General trend

- Follow Up: China to hold press conference on COVID at 3 pm local time (7 GMT) [updates the time] – financial press.

- Hang Seng rebounds after prior decline.

- Japanese equities trade modestly lower.

- Japan reported a surprise current account deficit.

- Energy cos. lag in Australia.

- Taiwan Semi may report monthly sales this week.

- China’s Commerce Ministry (MOFCOM) sometimes holds weekly news conferences on Thurs.

Headlines/economic data

Australia/New Zealand

ASX 200 opened flat.

- (AU) Reserve Bank of Australia (RBA) Assistant Gov of Financial Systems Jones gives speech called "The Economics of a Central Bank Digital Currency in Australia".

- (NZ) New Zealand sells NZ$400M v NZ$400M indicated in 2028, 2032 and 2037 bonds.

- (AU) Reserve Bank of Australia (RBA): Information Provided to the Review of the Reserve Bank of Australia.

- (AU) Australia Oct Trade Balance (A$): 12.2B v 12.1Be.

- (AU) Australia Treasurer Chalmers says RBA review to guide decision related to RBA Gov – Australia media.

Japan

Nikkei 225 opened -0.2%.

- (JP) Japan MoF sells ¥2.5T v ¥2.5T indicated in 0.005% 5-year JGBs; Avg Yield: 0.1210% v 0.0600% prior, bid-to-cover: 3.58x v 3.31x prior.

- (JP) Japan Nov Tokyo Avg Office Vacancies: 6.4% v 6.4% prior.

- (JP) Bank of Japan (BOJ) offers to buy 5-10 year JGBs at fixed rate of 25bps; Opens window to buy unlimited amount of 10-year JGBs at 0.25% [as expected].

- (JP) Japan Investors Net Buying of Foreign Bonds: ¥522.2B v ¥51.2B prior; Foreign Net Buying of Japan Stocks: -¥349.3B v ¥442.9B prior.

- (JP) Japan Nov Bank Lending Y/Y: 2.7% v 2.7% prior; Bank Lending (ex-trusts) Y/Y: 3.0% v 3.0% prior.

- (JP) Japan Oct BoP Current Account: -¥64.1B v + ¥621.7Be; Adj Current Account: -¥609.4B v +¥352.7Be.

- (JP) Japan Q3 FINAL GDP Q/Q: -0.2% V -0.3%E; GDP annualized Q/Q: -0.8% V -1.0%E.

Korea

Kospi opened +0.2%.

- (KR) Bank of Korea (BOK) Dep Gov: To raise amount of repo purchases to >KRW6.0T - policy report to parliament.

- (KR) South Korea Govt said to have ordered truckers that haul Steel and Petrochemicals back to work [in line] - Press.

- (KR) South Korea Govt said to have asked the National Pension Service to increase its FX Hedging ratio to 10% - Korean press.

China/Hong Kong

- Hang Seng opened +0.8%; Shanghai Composite opened -0.1%.

- (CN) China PBOC Open Market Operation (OMO): Sells CNY2.0B in 7-day reverse repos v CNY2.0B prior; Net drains CNY8.0B v net drains CNY168B prior.

- (CN) China PBOC sets Yuan reference rate: 6.9606 v 6.9975 prior.

- (CN) China Nov Domestic Excavator sales 14.4K, +2.7% y/y.

- (HK) Hong Kong expected to decrease isolation period for coronavirus patients to 5 days - Press.

- (CN) China securities regulator (CSRC) Vice Gov Li: Looking into expanding REIT pilot program to more sectors [includes long-term rental and commercial properties].

- (HK) Said that Hong Kong is considering easing coronavirus testing rules for arrivals - Press.

North America

- TSLA: Said that bankers are considering new margin loans on CEO Musk's Tesla shares to replace the high interest loans to acquire Twitter - Press.

-(US) MBA Mortgage Applications w/e Dec 2nd: -1.9% v -0.8% prior.

-(US) Q3 final nonfarm productivity: 0.8% v 0.6%e; unit labor costs: 2.4% V 3.1%E (lowest Unit Labor Costs Q/Q increase since Q4 2021).

-Nov Manheim Used Vehicle Value Index: -0.3% M/M; -14.2% Y/Y; First time the MUVVI (14% y/y) has dropped below 200.0 since August 2021.

-(CA) Bank of Canada (BOC) raises interest rate by 50BPS TO 4.25%; as expected; Inflation is still too high, CPI expectations remain elevated.

-(US) DOE crude: -5.2M V -1.5ME; GASOLINE: +5.3M V +1.5ME; DISTILLATE: +6.2M V +1ME.

-(US) Oct consumer credit: $27.1B V $28.0BE.

Europe

- (UK) UK Nov RICS Housing Balance -25% v -10%e [lowest since May 2020].

- (DE) Germany Chancellor Scholz says the risk of Russia using nuclear weapons has declined, cites international pressure – German press.

-(EU) EU Commission Pres Von der Leyen: Confident EU will agree on gas price cap by year-end.

-(UK) PM Sunak Spokesperson: PM thinks it is right to look at further ways to curtail impact of strikes.

-(EU) ECB’s Kazimir (Slovakia): Many reasons to keep tightening pace in Dec.

-(RU) Russia Pres Putin: The threat of nuclear war is on the rise; No sense at all to conduct additional mobilization today in current conditions.

Levels as of 00:20 ET

- Nikkei 225, -0.5%, ASX 200 -0.8% , Hang Seng +2.5%; Shanghai Composite -0.1% ; Kospi -0.9%.

- Equity S&P500 Futures: -0.2%; Nasdaq100 -0.2%, Dax -0.2%; FTSE100 -0.2%.

- EUR 1.0515-1.0494 ; JPY 137.24-136.24 ; AUD 0.6730-0.6698 ;NZD 0.6372-0.6326.

- Gold -0.2% at $1,794/oz; Crude Oil +0.9% at $72.69/brl; Copper flat at $3.8442/lb.

All information provided by Trade The News (a product of Trade The News, Inc. "referred to as TTN hereafter") is for informational purposes only. Information provided is not meant as investment advice nor is it a recommendation to Buy or Sell securities. Although information is taken from sources deemed reliable, no guarantees or assurances can be made to the accuracy of any information provided. 1. Information can be inaccurate and/or incomplete 2. Information can be mistakenly re-released or be delayed, 3. Information may be incorrect, misread, misinterpreted or misunderstood 4. Human error is a business risk you are willing to assume 5. Technology can crash or be interrupted without notice 6. Trading decisions are the responsibility of traders, not those providing additional information. Trade The News is not liable (financial and/or non-financial) for any losses that may arise from any information provided by TTN. Trading securities involves a high degree of risk, and financial losses can and do occur on a regular basis and are part of the risk of trading and investing.

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