📈 Asian Markets Rally
Asian stocks surged after softer U.S. PCE inflation data boosted hopes for policy easing:
🌏 MSCI Asia-Pacific ex-Japan: +0.3%
🇰🇷 South Korea: +1.3%
🇹🇼 Taiwan: +2.6%
🇯🇵 Japan’s Nikkei: +1.2%, driven by reports of a potential Honda-Nissan merger targeting completion by June 2025.
📉 Emerging Market Outflows
Emerging markets saw heavy outflows last week:
💵 Bond funds: -$1.5B (Hard currency bonds: -$1B)
📊 Equity funds: -$4.6B (ETFs: -$3.1B)
Year-to-date: Bonds (-$28.2B), Equities (-$30.3B).
🇸🇬 Singapore Inflation Falls
Core inflation in Singapore eased to 1.9% in November 📉, the lowest since 2021 and below the forecast of 2.1%. Analysts believe the Monetary Authority of Singapore (MAS) might delay policy changes until later in 2025 amid global uncertainties.
🚗 Honda-Nissan Merger Buzz
Reports suggest Honda and Nissan could finalise merger terms by June 2025, potentially joined by Mitsubishi Motors. If successful, the alliance would form the world’s third-largest automaker 🚘, addressing challenges in overseas sales and EV markets.
💵 Currencies & Dollar Watch
The dollar held near two-year highs.
USD/JPY: 156.59
USD/CNY: Hit one-year highs.
🇮🇳 Indian rupee stabilised after record lows above 85.
🇸🇬 Singapore dollar steady ahead of inflation data.
🛢️ Oil Update
Brent: $73.29 ⬆️
WTI: $69.86 ⬆️
Concerns over a supply surplus limit gains, while Sinopec forecasts China's oil demand peaking in 2027. Druzhba pipeline resumed operations, easing European worries.
🏅 Metals Recap
Gold: $2,626 (+0.2%) 🟡
Silver: $30.14 (+0.6%)
Platinum: $940.15 (+0.8%)
📉 Crypto Slump
Bitcoin fell over 7% to $94,344 📉, marking its first weekly decline since Trump’s election.
Ethereum: $3,288
Despite short-term volatility, analysts remain bullish on crypto for Q1 2025.
🌍 Diplomatic Sparks
President-elect Trump’s comments on reasserting U.S. control over the Panama Canal triggered sharp criticism from Panama’s President Mulino, raising concerns over potential shifts in U.S. foreign policy 🇺🇸🤝🇵🇦.
Stay tuned for more updates! 📰
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