๐ Asian Markets:
๐ฏ๐ต Japan: Nikkei soared +2.1% ๐, driven by stronger-than-expected Tokyo inflation data.
๐จ๐ณ China: CSI 300 rose +0.4% ๐, while ๐ฐ๐ท South Korea's KOSPI tumbled -1.5% ๐ amidst political turmoil over the impeachment vote for acting president Han Duck-soo.
๐ Tokyo Core CPI:
Accelerated to 2.4% in December (vs 2.2% in November), fuelling expectations for a potential BOJ rate hike ๐. Some policymakers hinted action might come "in the near future" but timing remains uncertain ๐ค.
๐ฑ Currencies:
๐น JPY strengthened as Finance Minister Kato issued warnings against excessive moves, with USD/JPY easing 0.3% to 157.59.
The ๐บ๐ธ Dollar Index held near two-year highs, pressuring most Asian currencies ๐ต.
๐ฎ๐ณ USD/INR hit new record highs above 85.7 ๐.
๐ญ China's Industrial Profits:
Declined -7.3% YoY in November (improved from -10% in October).
The World Bank revised China's 2024 growth forecast upward to 4.9% ๐ but flagged challenges in household confidence and property markets ๐๏ธ.
๐ข๏ธ Oil:
Steady: Brent at $72.76 & WTI at $69.61. Modest weekly gains expected on China stimulus hopes.
๐ญ API data: U.S. crude inventories fell -3.2M barrels; EIA report awaited later today.
๐ Precious Metals:
Gold: Flat at $2,633 but on track for a +0.3% weekly gain ๐.
Silver: Steady at $30.38.
Platinum: Unchanged at $954.50.
๐ช Bitcoin:
Holding around $96,000 ๐ as traders take profits ahead of Fridayโs massive options expiry ๐ฅ. Over $14B in Bitcoin options and $3.8B in Ethereum options set to expire, potentially sparking volatility ๐จ.
๐ BYD Controversy:
BYD faces backlash ๐ง๐ท in Brazil as authorities uncovered human trafficking at a factory site, raising concerns about the EV giant's global expansion ๐.
๐ Stay tuned for more updates! ๐
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