Nikada
Japan (NKY:IND) -0.80%. Japan’s manufacturing shrinks for an eighth consecutive month amid weak demand.
Japan data – December exports +9.8% y/y (expected +9.1%).
Further, Bank of Japan governor Kazuo Ueda’s latest remarks revived speculation about a possible shift in the country’s monetary policy.
China (SHCOMP) +1.80%. People’s Bank of China Governor Pan Gongsheng announced on Wednesday at a press conference in Beijing, that China will cut reserve ratio requirements by 50 basis points from Feb. 5, while providing 1 trillion yuan in long-term capital in its latest attempt to boost growth in the world’s second largest economy.
Hong Kong (HSI) +2.24%.
India (SENSEX) +0.37%. The HSBC Flash India Manufacturing PMI rose to 56.9 in January 2024 from 54.9 in December, pointing to the strongest growth in the factory sector in four months. Services PMI rose to 61.2 in January 2024 from 59 in December, pointing to the strongest growth in the services sector in six months.
Australia (AS51) +0.06%. Australia January preliminary PMIs: Manufacturing 50.3 (prior 47.6) Services 47.9 (47.1).
In the U.S. on Tuesday, all three major indexes ended mixed, amid strong corporate earnings results.
U.S. stock futures rose on Wednesday after Netflix reported a new record subscriber count in the fourth quarter: Dow +0.17%; S&P 500 +0.38%; Nasdaq +0.59%.
In the US, fourth quarter GDP data and the Fed-preferred PCE inflation numbers will be released this week, ahead of the Federal Reserve’s policy meeting next week.
Markets also look ahead to the European Central Bank’s policy decision this week, where it is expected to push back on interest rate cut bets for this year.
Currencies: (JPY:USD), (CNY:USD), (AUD:USD), (INR:USD), (HKD:USD), (NZD:USD).