Australia Private House Approvals MoM Final

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South Korea posted a current account surplus of $11.12 billion in September 2024, remaining in the black for the fifth consecutive month amid robust exports. September’s figure also increased significantly from a $6.5 billion surplus in August. The goods account recorded a $10.67 billion surplus as exports increased annually by 9.9% to $61.67 billion and as imports increased by 4.9% to $51.00 billion, both compared to a year earlier. Meanwhile, the services account posted a $2.24 billion deficit owing to deficits in the travel, the manufacturing services, and the use of intellectual property accounts. The primary income account recorded a $3.09 billion surplus due to an increase in the income on equity, while the secondary income account recorded a $0.39 billion deficit.

S. Korea Logs Current Account Surplus for 5th Month

HRC Steel decreased to an 8-week low of 694.00 USD/T. Over the past 4 weeks, Hot-Rolled Coil Steel lost 2.36%, and in the last 12 months, it decreased 31.65%.

HRC Steel Hits 8-week Low

New Zealand's stocks remained flat at around 12,649 in the Thursday morning session, marking a second consecutive day of muted activity. Gains in non-energy minerals and manufacturing were offset by losses in consumer and healthcare sectors.

New Zealand Shares Stay Subdued

The Central Bank of Brazil hiked its Selic rate by 50 bps to 11.25% in its November 2024 meeting, aiming to bring inflation back to target and support economic stability. The Committee highlighted risks of higher inflation, driven by persistent inflation expectations, resilient services inflation, and both domestic and global economic policies. On the downside, a sharper global slowdown and stronger-than-expected disinflation are key concerns. Domestically, while economic activity and the labor market remain robust, inflation has recently exceeded targets. Inflation expectations for 2024 and 2025 are 4.6% and 4.0%, respectively, with the Copom's projection for Q2 2026 at 3.6%. Policymakers indicated that future rate adjustments will depend on inflation trends and evolving risk factors.

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