Australian Building Permits YoY Final (Dec) Y/Y 0.4% (Prev. 19.4%)
The Australian Building Permits YoY data showed a significant decline to 0.4% from the previous 19.4%, indicating a sharp slowdown in building activity.
PRE-MARKET TAIWAN AND SINGAPORE STOCKS NEWS: Taiwan Exports in January surged by around 70% Y/Y
Venezuela's largest refinery, Amuay, is out of service after a power blackout, according sources
Australian Building Permits YoY Final (Dec) Y/Y 0.4% (Prev. 19.4%)
PBoC is expected to set USD/CNY mid-point at 6.9135 (prev. 6.9523)
[MARKET UPDATE] Asia-Pac stocks are higher as the region takes impetus from the gains on Wall St, where the S&P 500 approached closer towards its record levels and the Nasdaq outperformed as the tech rebound persisted
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This drop could signal weakening momentum in the construction sector, which may raise concerns for overall economic growth and impact future monetary policy decisions. Market participants should monitor this trend for implications on housing and potential shifts in related asset classes.
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