Asian Currencies Trade Sideways as Dollar Weakens Ahead of Key U.S. Data 
Gold and Silver Prices Dip as Markets Await Key U.S. Economic Data 
RBA Unlikely to Cut Interest Rates in 2026 as Inflation Pressures Persist, Says Westpac 
Asian Stocks Edge Higher as Tech Recovers, U.S. Economic Uncertainty Caps Gains 
Gold and Silver Surge as Safe Haven Demand Rises on U.S. Economic Uncertainty 
Asian Stocks Slide as AI Spending Fears and Global Central Bank Decisions Weigh on Markets 
Wall Street Futures Slip as Tech Stocks Struggle Ahead of Key US Economic Data 
South Korea Warns Weak Won Could Push Inflation Higher in 2025 
Singapore Growth Outlook Brightens for 2025 as Economists Flag AI and Geopolitical Risks 
Japan Exports to U.S. Rebound in November as Tariff Impact Eases, Boosting BOJ Rate Hike Expectations 
Korea Zinc to Build $7.4 Billion Critical Minerals Refinery in Tennessee With U.S. Government Backing 
U.S. Stock Futures Edge Higher as Micron Earnings Boost AI Sentiment Ahead of CPI Data 
Chinese Robotaxi Stocks Rally as Tesla Boosts Autonomous Driving Optimism 
Dollar Holds Firm Ahead of Global Central Bank Decisions as Yen, Sterling and Euro React 
Bank of Japan Poised for Historic Rate Hike as Inflation Pressures Persist 
Australian Consumer Sentiment Slumps in Early December as Inflation Fears Resurface 
Chinese Stocks Rally to Two-Year Highs: Optimism Over Beijing Stimulus
Chinese stock markets experienced strong gains over the past three weeks, with the Shanghai Shenzhen CSI 300 and Shanghai Composite indexes surging between 16% and 20% since late September. This rally pushed the indices to their highest levels in two years, driven by growing optimism over Beijing’s fiscal stimulus measures.
UBS Analysts Maintain Positive Outlook
Despite the recent cool-off in the rally, UBS analysts remain optimistic. They emphasized that while Chinese stocks are no longer as undervalued as a month ago, there is still significant upside. UBS continues to maintain an Overweight rating on local stocks, pointing to long-term growth potential.
Beijing's Fiscal Stimulus: Progress and Concerns
China's Ministry of Finance recently introduced a range of fiscal measures, including increased debt issuance, property market relief, and more support for provincial governments. However, investor sentiment was dampened by the lack of specific details on the timing and scope of these measures. There is also concern over the absence of initiatives aimed at boosting consumer spending, a key driver of economic recovery.
Capital Outflows from India Signal Market Shift
Interestingly, UBS analysts noted that China's recent stock market gains coincided with significant capital outflows from India, another major emerging market. This shift in sentiment aligns with UBS’s Underweight rating on Indian stocks, indicating a broader trend of investor preference for Chinese markets amid Beijing’s ongoing stimulus efforts.
