Japan 3-Month Bill Auction

Japan Capacity Utilization MoM

Japan Industrial Production YoY Final

Japan Industrial Production MoM Final

The Bank of Japan's index for big manufacturers' sentiment inched up to 14 in Q4 of 2024 from 13 in the prior two periods, marking the highest reading since Q3 of 2022 and defying market consensus of 12. Meantime, large firms planned to increase capital expenditure by 11.3% in the current FY ending in March 2025, pointing to the strongest rise in a year and topping forecasts of 9.6%.

Japan Q4 Business Mood Highest in 11 Quarters

The NZX 50 rose 26 points, or 0.2%, to 12,719 around noon on Friday after retreating in the previous session, supported by gains in communication services, industrials, and utilities. Traders welcomed the results of a meeting of China’s top leaders, as New Zealand's top trading partner plans to increase the budget deficit, issue more debt, and loosen monetary policy to maintain a stable economic growth rate. However, caution was built ahead of a slew of economic data from China due Monday, including retail sales and industrial production. Adding to the pressure, Wall Street ended lower after a hotter-than-expected U.S. inflation report weighed on market sentiment. On the fresh data, visitor arrivals in New Zealand accelerated sharply to 6.9% in October, while factory activity shrank the most in four months. For the week, the index is heading for a 0.7% fall amid global political uncertainty and ahead of the Fed interest rate decision next week.

New Zealand Shares Head for Losses Weekly

Peru’s central bank left its benchmark interest rate unchanged at 5% in December 2024 meeting, the lowest level since May 2022, maintaining its lowest level since May 2022. The decision was based on recent inflation data, with inflation slightly rising to 2.3% in November. Global inflation continued to decline, and domestic economic activity remained stable, with inflation expectations staying within the target range. The BCRP will continue to monitor inflation and economic trends, adjusting policy as needed. Specific interest rates for financial operations were also set during the meeting.

Peru Maintains Interest Rate at 5%

Uruguay’s GDP grew by 4.1% in the third quarter of 2024, up from a revised 4% in the prior quarter. This was the highest rate of growth since June quarter of 2022 fueled by a rise in exports, which increased by 11.8%, although slower than the 14.9% growth in the previous quarter. Imports continued to decline by 3.1% (vs. -3.3% in Q2), and government spending grew at a slower rate of 3% (vs. 4.3% in Q2). Capital formation showed improvement, turning positive at 1.4% (vs. -2.5%). However, household consumption growth slowed to 0.8% from 1%, indicating some softness in domestic demand.

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