Australian Building Permits MoM Prel (Dec) M/M -14.9% vs. Exp. -5.7% (Prev. 15.2%, Low. -9%, High. 0.5%)
The Australian Building Permits for December showed a significant drop of 14.9%, well below the expected decline of 5.7%.
Korea Exchange activates sidecar to halt program trading briefly on benchmark KOSPI after sharp equity rise
PRE-MARKET TAIWAN AND SINGAPORE STOCKS NEWS: ASE Technology (3711 TT) is accelerating capacity expansion across multiple locations, while its unit commissions plant engineering project for TWD 1.8bln
Australian Building Permits MoM Prel (Dec) M/M -14.9% vs. Exp. -5.7% (Prev. 15.2%, Low. -9%, High. 0.5%)
PBoC is expected to set USD/CNY mid-point at 6.9598 (prev. 6.9695)
[MARKET UPDATE] Asia-Pac stocks rebounded from the prior day's sell-off as the region takes impetus from the positive handover from Wall St, where markets rallied after a strong ISM Manufacturing report
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This sharp contraction signals potential weakness in the construction sector, suggesting that housing demand may be faltering, which could have implications for economic growth and monetary policy expectations moving forward.
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