loveguli/E+ via Getty Images
Japan (NKY:IND) -1.37%. Japan services and composite PMI revised downward in November
China (SHCOMP) -1.60%. China services and composite PMI edges higher in November
Moody’s affirmed China’s credit rating at A1 on December 5th but revised the outlook from ‘stable’ to ‘negative’.
Hong Kong (HSI) -2.49%.
Retail sales in Singapore dropped 0.1% year-on-year in October 2023, the first decline since January, reversing an upwardly revised 0.8% gain in the previous month.
South Korea’s economy expanded 0.6% quarter-on-quarter in the September quarter of 2023, the same pace as the prior quarter, a second reading showed.
India (SENSEX) +0.40%.
Australia (AS51) -0.89%. The Reserve Bank of Australia maintained its cash rates at 4.35% during its final meeting of the year, as widely expected; The Judo Bank Australia Services PMI fell to 46 in November 2023, from 47.9 in the previous month, final readings showed.
In the U.S. on Monday, all three major indexes ended lower, while Treasury yields rose as bonds sold-off. The moves came after a massive rally that saw Wall Street’s benchmark S&P 500 (SP500) notch a 2023 closing high on Friday.
According to the CME FedWatch tool, markets are now pricing in a ~50% chance of the Fed delivering a 25 basis point rate cut in March 2024. That probability was about 21% last Monday.
U.S. stock futures traded in negative territory: Dow -0.23%; S&P 500 -0.38%; Nasdaq -0.56%.
Coming up in the session: Services PMI numbers from US, European countries and UK expected today.
Currencies: (JPY:USD), (CNY:USD), (AUD:USD), (INR:USD), (HKD:USD), (NZD:USD).