Mixed Markets
- Hong Kong: Hang Seng closes down -0.07%
- China CSI 300 -0.44%
- Taiwan KOSPI +1.30%
- India Nifty 50+0.85%
- Australia ASX -0.34%
- Japan Nikkei -0.65%
- European bourses broadly up across the board
- US indices pretty flat across the board, weakness in YM, USD slightly down -0.25%
Overnight News/Data
- Turkey Earthquake death toll in Turkey rises to 6,234 – Disaster
Earthquake death toll in Syria surpasses 2,500 - India RBI hikes rates 25 bps to 6.50% as expected, hints more could come; India’s monetary tightening continues
- U.K. NIESR cuts growth outlook for 2023, warns on living standards
NIESR sees 2023 GDP at 0.2% y/y, 2024 at 1.0% y/y (vs. Prior estimates of 0.7% and 1.7%)
Shoppers to face fresh price hikes as stores, suppliers pass on costs
- South Korea: Dec current account swings back to surplus
Dec Current Account $2.677 Bln vs. Nov. rev. $-222.8 Mln
US DATA TODAY
COMMODITY HEADLINES OVERNIGHT
Metals
Copper climbs on Powell comments; supply headwinds help
Energy
US natgas output to hit record high in 2023, demand to fall
US natgas futures jump 5% with output slow to return, profit taking
TotalEnergies posts record net profits of $36.2 bln in 2022
Equinor posts record profit for 2022, Q4 beats expectations
Iraqi oil flows resume to Turkey, Azeri exports still stopped
US Agriculture
US Agri exports top $200 bln in 2022 as China grabs record share
