Stock Market Update

The S&P 500 futures currently trade one point below fair value.

Equity indices in the Asia-Pacific region had a mostly lower showing on Wednesday, but overall movement was limited. BlackRock may abandon the Panama ports deal due to China's demand for a majority stake for its main shipping company. Japan's 30-yr yield briefly hit a fresh high for the year at 3.40% after it was confirmed that debt issuance in fiscal 2026 will reach a record of JPY29.6 trln. Rate hike expectations for the Bank of Japan have receded with the likelihood of a hike by June sitting around 57%.

• In economic data:
  • Japan's November Corporate Services Price Index 2.7% yr/yr, as expected (last 2.7%). November Leading Index 109.8 (expected 11.0; last 108.6)
  • South Korea's December Consumer Confidence 109.9 (last 112.4)

---Equity Markets---

• Japan's Nikkei: -0.1%
• Hong Kong's Hang Seng: +0.2%
• China's Shanghai Composite: +0.5%
• India's Sensex: -0.1%
• South Korea's Kospi: -0.2%
• Australia's ASX All Ordinaries: -0.3%

Equity markets in Germany, Italy, and Switzerland are closed for Christmas Eve while the U.K.'s FTSE just closed early. Markets in Spain and France are also nearing their close, making for a quiet session overall. The French parliament passed a bill to keep the government running until an agreement is made on a budget for 2026 with the original deadline just a week away.

• No data today

---Equity Markets---

• STOXX Europe 600: +0.4%
• Germany's DAX: CLOSED
• U.K.'s FTSE 100: -0.2%
• France's CAC 40: flat
• Italy's FTSE MIB: CLOSED
• Spain's IBEX 35: -0.1%