Wolf Money(world market review 6-12 Jan 2025)

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（Source: Met Service; Stay dry, Stay safe)


Market Summary 6-12 Jan 2025

*USA* 

+ US nonfarm employment increased by 256k MoM in Dec, healthcare added the most jobs at 46,000 

+ US unemployment drops to 4.1% reached 6.9m from 4.2%, average hourly earnings up by 0.3% to US$35.69

-US consumer confidence sentiment index declined by 1.1% in Jan MoM at 73.2, figure plunged by 7.3% on annual level 

+ US private businesses added 122k workers to their payrolls in Dec 2024, the least in 4 mths

-US consumers’ 1-year inflation expectations jumped do 3.3% in Jan, highest level since May on tariff fears  

+ US online spending rose 8.7% YoY during the holiday season: Adobe Analytics 

-S&P 500 erasing its 2025 gains after an upbeat jobs reports stocked fresh inflation dears 

-US average rate on 30-year fixed mortgage backed by Freddie Mac rose to 6.93% to 6-mth high 

-US employers announced 761,358 job cuts in full 2024, the most since 2020, up 5.5% from 2023 

-US insurers stocks slid as analysts estimated insured losses from LA wildfire could reach as high as US$20bn 

-US plans to finalise rule next week aimed at cracking down on Chinese vehicle software and hardware 

-US added Tencent and CATL to its lists of “Chinese military companies” 

-US antitrust supports on Elon Musk’s lawsuit seeking to block OpenAI’s conversion to a public company

+ Tesla launched an updated version of Model Y in China aiming to regain sales momentum 

-Zuckerberg slammed Apple on its lack of innovation and ‘random rules’ 

+ Ford CEO says China operations earned US$600m in 2024

*NORTH AMERICA*

-Canadian PM Trudeau to step down as both party leader and PM once replacement for him is selected

*CHINA*

+ China unveiled growth target for 2025 with focus on boosting opening-up, consumption and innovation 

+ China’s annual consumer prices edged lower to 0.1% in Dec 2024, up 0.2% YoY in 2024

-China’s producer prices declined by 2.3% YoY in Dec 2024, vs 2.5% drop in Nov, 27th straight mth of producer deflation 

+ Chinese Caixin General Services Business activity index came in at 52.2 in Dec, up 0.7 pts from Nov 

+ PBoC halting the purchase of treasury bond due to supply shortage

+ PBoC stated its goals are to “maintain ample liquidity” and guide financial institutions to increase monetary and credit supply 

-China to see significant fiscal deficit increase in 2025: MOF

+ China has signed 23 FTAs with partners on 5 continents: MOFCOM 

+ China expands equipment upgrade and trade-in subsidies by US$11bn in 2025 

+ China’s NEV sales surpass fossil fuel-powered cars for 7 consecutive mths, total sales hitting 11m units in 2024 

+ Country Garden requesting permission from local authorities to reallocate locked-up presale funds to finish building homes 

+ China Cinda, State-owned bad asset manager launching US$2.7bn fund with affiliates to aid struggling real estate developers  

+ Shanghai encouraged set-up of wholly foreign-owned hospitals in a trial program to boost healthcare sector opening-up 

-China to initiate a sunset review probe on countervailing measures against imported US solar-grade polysilicon: MOFCOM

+ China announced the measured n indicated lithium reserves have increased significantly, account for 16.5% of global resources 

+ China discovered major uranium exploration deposit in Ordos Bason located in the northwestern region 

+ China’s e-commerce logistics index averaged 113.7 pts in 2024 at 7-year high 

+ China’s express deliveries totalled 174.5bn parcels in 2024, up 21% YoY 

+ WeChat has been removed from US’ so-called notorious markets list 

-TSMC cuts ties with Singapore-based firm PowerAIR over chip found in Huawei processor: sources 

*EUROPE*

-Euro has fallen to its weakest level against USD in  >2 yrs, reaching EUR/USD 1.03

+ EU import LNG shipped by Russia hit record high in 2024: Bloomberg  

+ Airbus increased aircraft deliveries to 766 in 2024, higher than 735 aircraft delivered in 2023

+ Germany purchased Russian uranium surged 70% in 2024 YoY to 60.8 tons 

+ Germany’s 10-year bond yield climbed above 2.53% to over 5-mth high 

+ Germany’s exports fell 3.5% to €127.3bn in Nov, imports down 2.9% to €107.6bn on yearly basis  

- Germany’s trade surplus with US between Jan-Nov 2024 exceeded €65bn, well above previous €63.3bn in 2023

-Volkswagen deliveries down 1.4% to 4.8m vehicles in 2024 

-UK 10-year yield surged above 4.8%, highest since Aug 2008, 30-year gilts climbed 5.47%, highest since 1998 

+ France’s 10-year govt bond climbed to near 3.4% at over 1-year high  

-Credit Suisse withheld data about Nazi accounts: WSJ 

-Swiss unemployment rate rose to non-seasonally adjusted 2.8% in Dec 2024, highest since 2021 

-Russian takes temporary control of AB InBev’s JV, thwarting the brewery plana to exit via a deal with Turkish partner 

-Ukraine stopped transit of Russian gas to EU after a 5-year deal expired 

*ASIA*

+ Japan companies expected to post record profits for the 5th consecutive business yr, supported by robust chip demand driven by AI 

-Japan Coincident Index (factory output, employment and retail sales) declined to 115.3 in Nov 2024, down from 5-mth peak 

-Japan household spending fell in real terms by 0.4% YoY in Nov 2024, 4th consecutive mth of decrease 

+ Japan’s 10-year govt bond yield hitting the highest point since Jul 2011 to 1.173%

+ Indonesia had formally joined BRICS as a full member  

+ Indonesia’s consumer confidence increase to 127.7 in Dec 2024 from 125.9 in Nov, highest reading since Apr 

+ Vietnam proposed ‘unprecedented’ policies for financial centres in HCM city, Da Nang 

+ Malaysia-Singapore formalised JS-SEZ at leaders’ retreat 

+ Malaysia’s growth set to surpass 5% in 2025: Minister 

+ Malaysia industrial production expanded 3.6% YoY in Nov 2024 at 3-mth high 

+ Johor will rival Klang Valley in 10 years with JS-SEZ: Minister Rafizi 

+ Malaysia unveiled tax incentives for Johor-SG SEZ 

+ Johor-Singapore SEZ could add RM125bn yearly to GDP: Rafizi 

+ Sg-China upgraded protocol of FTA took effect on Dec 31, 2024 

+ SGX securities turnover value up 5% in Dec 2024 despite lower market volume 

+ Micron to invest US$7bn in Woodlands advanced packing site; 1400 jobs to be created 

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Disclaimers 

All investments is highly speculative in nature and involves substantial risk of loss. We encourage our reader to invest very carefully. We also encourage reader to get personal advice from your professional investment advisor and to make independent investigations before acting on information that we publish. Much of our information is derived directly from information published by companies or submitted to governmental agencies on which we believe are reliable but are without our independent verification. Therefore, we cannot assure you that the information is accurate or complete. We do not in any way whatsoever warrant or guarantee the success of any action you take in reliance on our statements. All information provided are for education only. Buyer beware,do you own due diligence.



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