Equity markets trade modestly lower after declines on Wall Street
|General trend
- US equities declined amid stronger US data [technicals and corporate earnings also noted (Micron)]
- More US data due later today [includes Core PCE, Durable Goods, Personal Spending, Consumer Confidence, New Home Sales]
- Markets pared losses [news? Short covering?]
- SGD rose on hotter CPI data
Headlines/economic data
Australia/New Zealand
- ASX 200 opened -0.2%.
- (AU) Australia Nov Private Sector Credit M/M: 0.5% v 0.6% prior; Y/Y: 8.9% v 9.5% prior.
Japan
- Nikkei 225 opened -1.1%.
- (JP) Said that Japan PM Kishida is considering a cabinet reshuffle in early 2023 - Press.
- (JP) Japan Nov national CPI Y/Y: 3.8% V 3.9%E; CPI ex-fresh food (CORE) Y/Y: 3.7% V 3.7%E (fastest pace since Feb 1982).
- (JP) Bank of Japan (BOJ) Oct Minutes (two decisions ago): One member said that there was no need to immediately change monetary policy.
- (JP) Japan Govt Official: Next spike in food prices likely to come in Feb 2023; Measures on electricity and gas bills likely to show impact starting in Feb.
- (JP) Japan Expected to use 'several hundreds of billions' in Construction bonds for warships - Press.
- (JP) Said that Japan PM Kishida could Replace Reconstruction Min Akiba as soon as Dec 26th.
- (JP) Japan Chief Cabinet Sec Matsuno: Need wage gains that aren't less than inflation.
- (JP) Said that Japan PM Kishida could Replace Reconstruction Min Akiba as soon as Dec 26th.
Korea
- Kospi opened -1.3%.
- (KR) South Korea Vice Fin Min: Will focus on stabilizing prices and creating jobs; Working on stabilizing markets and property prices.
China/Hong Kong
- Hang Seng opened -1.5%; Shanghai Composite opened -0.5%.
- (CN) China PBOC Open Market Operation (OMO): Sells CNY2.0B in 7-day reverse repos v CNY4B prior; Sells CNY203B in 14-day reverse repos v CNY153B prior; Net inject CNY164B v net inject CNY155B prior.
- (CN) China PBOC sets Yuan reference rate: 6.9810 v 6.9713 prior.
- (CN) China Foreign Ministry: To impose sanctions against Miles Yu and Todd Stein.
- (CN) China Ministry of Finance (MOF) Sells 3-month, 6-month bills and 2-year bonds.
North America
- (US) Noted that US airlines have cancelled >4.3K flights, with >2.0K on Dec 23rd.
- (US) Colorado Interstate Gas Co: Declares force majeure at CIG Wamsutter Compressor Station; to cut capacity to 125K from 265K.
- MSFT Said to have responded to FTC suit on Activision-Blizzard Acquisition, files formal challenge to the FTC's lawsuit - Press.
Europe
- (RU) Russia Dep PM Novak: May decrease oil production by up to 7% [500-700K bpd] in early 2023 as a response to EU price caps; Gas Production in 2022 expected at 671BCM, -18% to -20% - Press.
Levels as of 00:20 ET
- Nikkei 225, -1%, ASX 200 -0.6% , Hang Seng -0.8%; Shanghai Composite -0.3% ; Kospi -1.7%.
- Equity S&P500 Futures: +0.1%; Nasdaq100 +0.1%, Dax +0.5%; FTSE100 +0.3%.
- EUR 1.0612-1.0586 ; JPY 132.81-132.15 ; AUD 0.6693-0.6660 ;NZD 0.6282-0.6233.
- Gold +0.5% at $1,803/oz; Crude Oil +1% at $78.30/brl; Copper +0.3% at $3.7752/lb.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.