Newsquawk Daily Asia-Pac Opening News - 8th December 2025

• US stocks were mixed on Friday but ultimately finished the session with an upward bias, as the SPX, NDX and DJI closed in the green, but RUT lagged and finished lower. Sectors were also mixed, in which Communication, Tech and Consumer Discretionary led the gains, while Utilities, Health Care and Industrials underperformed, while focus was largely on US data, in which PCE leaned softer than expected in September, while UoM beat forecasts with declining inflation expectations. Nonetheless, the data had little impact on Fed expectations, while T-notes were sold across the curve as they tracked Canadian bonds lower after a very strong Canadian jobs report.


• Ukrainian President Zelensky said he had a substantive call with US envoy Steve Witkoff and Jared Kushner, while he stated they agreed on the next steps and format for talks with America, as well as noted that Ukraine is determined to continue working honestly with the US side in order to bring real peace. Zelensky separately commented that talks with US representatives on a peace plan were constructive but not easy.


• Japanese Defence Minister Koizumi said Chinese military planes directed radar at Japan's self-defence forces twice.


• Looking ahead, highlights include Japanese Labour Cash Earnings & Q3 Revised GDP, Chinese Trade Data, Supply from Australia, Philippines Holiday Closure.

LOOKING AHEAD

• Highlights include Japanese Labour Cash Earnings & Q3 Revised GDP, Chinese Trade Data, Supply from Australia, Philippines Holiday Closure.


• Click for the Newsquawk Week Ahead.

US TRADE

• 
  US stocks were mixed on Friday but ultimately finished the session with an upward bias, as the SPX, NDX and DJI closed in the green, but RUT lagged and finished lower. Sectors were also mixed, in which Communication, Tech and Consumer Discretionary led the gains, while Utilities, Health Care and Industrials underperformed, while focus was largely on US data, in which PCE leaned softer than expected in September, while UoM beat forecasts with declining inflation expectations. Nonetheless, the data had little impact on Fed expectations, while T-notes were sold across the curve as they tracked Canadian bonds lower after a very strong Canadian jobs report.


• 
  SPX +0.19% at 6,870, NDX +0.43% at 25,692, DJI +0.22% at 47,955, RUT -0.38% at 2,521.


• Click here for a detailed summary.

TARIFFS/TRADE

• Canadian PM’s office said PM Carney agreed with US President Trump and Mexican President Sheinbaum.


• US Treasury Secretary Bessent said during a constructive call on Friday with Chinese VP He Lifeng and USTR Greer that they discussed the ongoing implementation of the Busan arrangement between Presidents Trump and Xi, which is going well, while they also reaffirmed US commitment to continued engagement with China.


• USTR said China’s trade commitments are going in the right direction and that they are seen to be in compliance so far.


• 
  French President Macron warned that the EU could hit China with tariffs if nothing is done to reduce its widening trade deficit with the EU, according to Les Echos.


• 
  EU is to expand the carbon border tax to garden tools and washing machines, as it seeks to close loopholes in the law to prevent carbon-intensive imports, according to FT.


• US Embassy in India said US Under Secretary of State for Political Affairs Allison Hooker will visit New Delhi and Bengaluru, India on December 7th-11th.

NOTABLE HEADLINES

• US President Trump signed a Presidential Memorandum directing the Department of Health and Human Services to fast-track a comprehensive evaluation of the vaccine schedules from other countries around the world, and better align the US vaccine schedule.


• White House said it will establish food supply chain security task forces to protect competition.


• US Treasury Secretary Bessent said the US will finish the year with 3% GDP growth.

COMMODITIES

• Qatar’s Energy Minister said there will be a lot of demand for LNG going forward and that 600-700 MTPA will be required by 2035, while AI energy needs will drive growth in gas demand. Furthermore, he said plenty of oil capacity is available and the first LNG train of Qatar’s North Field will come online in Q4 2026.


• UAE’s ADNOC set the January Murban crude official selling price at USD 65.53/bbl (prev. USD 65.79/bbl in December).


• 
  PBoC increased its gold reserves for a 13th consecutive month with its bullion holding increasing by 30k troy ounces in October to around 74.12mln troy ounces, according to Bloomberg.

GEOPOLITICAL

MIDDLE EAST

• 
  Israeli PM Netanyahu said he will meet with US President Trump this month, while he said they believe there is a path to a workable peace with their Palestinian neighbours and that the sovereign power of security from the Jordan River to the Mediterranean will always remain in Israel’s hands. Furthermore, he said political annexation of the West Bank remains a subject of discussion, and the status quo in the West Bank will remain for the foreseeable future, as well as noted that they are close to the second phase of Trump’s Gaza plan.
  


• 
  Palestinian PM Mustafa said Israel is stepping up the ‘creeping annexation’ of the West Bank and is intensifying efforts to make the West Bank unliveable and drive people out of the occupied territory, according to FT.


• Turkey’s Foreign Minister said Hamas is ready to hand over the Gaza administration to the Palestinian committee to advance the Gaza ceasefire deal. He also commented that Hamas disarmament in the first phase of the Gaza deal may not be a realistic and doable objective, while other steps are needed first.


• 
  US, Israel and Qatar were reportedly holding a trilateral meeting in New York on Sunday to rebuild relations, according to Axios.

RUSSIA-UKRAINE

• 
  Ukrainian President Zelensky said he had a substantive call with US envoy Steve Witkoff and Jared Kushner, while he stated they agreed on the next steps and format for talks with America, as well as noted that Ukraine is determined to continue working honestly with the US side in order to bring real peace. Zelensky separately commented that talks with US representatives on a peace plan were constructive but not easy.
  


• Ukrainian military conducted a strike on Russia’s Ryazan oil refinery.


• Russian Defence Ministry said Russian forces captured Kucherivka in Ukraine’s Kharkiv region and completed the capture of Rivne in Ukraine’s Donetsk region, while they carried out a group strike on Ukraine’s transport infrastructure facilities, fuel and energy complexes, and long-range drone complexes.


• Russia and China held their third joint anti-missile drills on Russian territory.


• Russia’s Kremlin said it welcomed the removal of Russia from the list of US direct threats in the new national security strategy.

OTHER

• 
  Japanese Defence Minister Koizumi said Chinese military planes directed radar at Japan's self-defence forces twice. It was separately reported that Japanese PM Takaichi said the incident involving Chinese fighter jets directing radar at Japanese planes is extremely regrettable, while she said they will respond calmly and resolutely to the development.
  


• 
  Japan is reportedly frustrated at the Trump administration’s silence over the row with China and urged the US to give PM Takaichi more public support, according to FT.


• 
  Australia’s Defence Minister Marles said they are deeply concerned about the actions of China following the air incident near Japan, while Marles discussed with Japanese Defence Minister Koizumi common serious concerns about the situation in the South China Sea and East China Sea. Furthermore, they discussed how to work together to maintain a free and open Indo-Pacific, while Marles also commented that they want the most productive relationship they can achieve with China.
  


• Pakistan and Afghanistan exchanged heavy fire in a border region on Friday.

ASIA-PAC

NOTABLE HEADLINES

• Hong Kong held its legislative election on Sunday to elect 90 Legislative Council members from the 161 government-vetted candidates.

DATA RECAP

• Chinese Foreign Reserves (USD)(Nov) 3.346tln vs Exp. 3.359tln (Prev. 3.343tln)

EU/UK

NOTABLE HEADLINES

• UK PM Starmer said former Deputy PM Angela Rayner will return to the cabinet after resigning in September, while he described her as “hugely talented”.


• ECB’s Rehn said they must be aware of upside and downside inflation risks, while he added that inflation risk is slightly tilted to the downside in the medium-term. Furthermore, he said they should not impose unnecessary bars or floors on policy, and that the position on interest rates is not fixed.


• French President Emmanuel Macron called for a change in the ECB’s approach to monetary policy to boost the single market and protect it from the risks of a financial crisis, while he commented that reasserting the value of the European internal market means it can't let inflation be its sole objective, but also growth and employment.


• 
  European Commission may announce a package to support the auto industry on December 16th, according to industry sources.


• 
  German Chancellor Merz and French President Macron are set to discuss the fate of the Franco-German fighter jet project FCAS in the week of December 15th, according to an industry source.

07 Dec 2025 - 22:27- ForexAsian Research- Source: Newswires