Caixin China services PMI climbs to highest since August
The Caixin China services purchasing managers’ index for November climbed to its highest in three months, diverging from China’s official PMI reading that showed a contraction.
This private survey reading came in at 51.5 in November, according to a release dated Dec. 5, rising from 50.4 in October and 50.2 in September.
China’s official non-manufacturing PMI services sub-index for November released last week came in at 49.3, showing a contraction for the first time since December 2022.
Tokyo inflation rate slides to 2.6%, lowest since July 2022
The headline inflation rate in Japan’s capital city of Tokyo rose by 2.6% in November, its slowest rise since July 2022.
This comes after the capital city’s inflation rate spiked to 3.3% in October, after being largely on a downward trend from its peak in January. Tokyo’s inflation readings are largely considered to be a leading indicator of nationwide trends.
Reserve Bank of Australia holds rates at 4.35%, in line with expectations
Australia’s central bank held its benchmark policy rate at 4.35% in its December meeting, in line with expectations from economists polled by Reuters.
Investors clambered into high-yield bond ETFs in November, embracing risk, State Street says
November’s rally, which saw heathy returns for stocks and price appreciation for bonds, spurred investors to snap up exchange traded funds, according to State Street.
Small caps will be favored in 2024, says strategist
Small caps are likely on pace to continue their recent outperformance heading into 2024, said Olivier d’Assier, head of applied research, APAC at Axioma.
Gitlab shares jump in after hours trading
Gitlab shares rallied more than 16% Monday post market after posting better-than-expected fiscal third quarter results.
Stock futures open little changed Monday
U.S. stock futures opened slightly below the flatline on Monday night. Dow Jones Industrial Average futures fell 31 points, or 0.1%. Futures tied to the S&P 500 and Nasdaq Composite also slipped 0.1%.