🌏 Asia-Pacific markets are trading mixed but noticeably firmer than the late Wall Street close. Chinese indices are up 0.10–0.40%, Japan’s JP225 slips 0.20%, while Singapore’s SG20cash adds 0.07%.
📈 Wall Street sentiment improved after Micron’s earnings. The stock jumped 8% in after-hours trading as the company guided for adjusted Q2 EPS of $8.42 - nearly double market expectations.
🧠 Micron highlighted tight memory supply and surging AI data-centre demand as key drivers of rising prices. Management warned the market will remain undersupplied at least through 2026, with many clients receiving well below ordered volumes. The company is negotiating multi-year contracts, lifting 2026 capex to $20 billion and restructuring operations.
💱 FX markets: The yen is again among the weakest G10 currencies. Chief Cabinet Secretary Kihara said authorities are “closely monitoring” FX moves and long-term yields, without signalling intervention.
🇳🇿 New Zealand: Q3 GDP beat expectations. Production-based GDP rose 1.1% q/q (vs 0.9% expected) and expenditure-based GDP climbed 1.3% q/q. Investment drove the rebound, while household consumption remained soft. On a yearly basis, output is still 0.5% below last year, showing the recovery is not yet complete.
🇺🇸 US politics: President Trump announced a one-time “warrior dividend” of $1,776 for every active-duty service member before the holidays. The $2.5 billion transfer carries limited macro impact but strong political symbolism.
🌏 Geopolitics: Washington approved a record $10+ billion arms package for Taiwan, including HIMARS, ATACMS, artillery and drones. The move significantly boosts Taiwan’s long-range strike capability and is likely to escalate tensions with Beijing.
🏦 Central banks today:
🇬🇧 The Bank of England is expected to cut the bank rate by 25 bp to 3.75%.
🇪🇺 The ECB is expected to keep rates unchanged while signalling that the main easing phase is nearing completion.
🪙 Crypto & markets: Coinbase announced a major expansion, adding zero-commission US stock and ETF trading, integrating prediction markets and derivatives, and outlining plans for tokenised stocks and 24/7 trading as part of a broader on-chain push.
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