S&P 500 — US Large Cap Index
FTSE 100 — UK Blue Chips
Euro Stoxx 50 — Eurozone Leaders
DAX 40 — German Equities
CAC 40 — French Market Index
Nikkei 225 — Japan Benchmark
Hang Seng — Hong Kong Index
Shanghai Composite — China Mainland
ASX 200 — Australian Market
TSX Composite — Canada Index
Nifty 50 — India Large Cap
STI Index — Singapore Market
KOSPI — South Korea Index
Bovespa — Brazil Equities
JSE Top 40 — South Africa Index
IPC Index — Mexico MarketThe offshore yuan traded around 6.96 per dollar on Friday, hovering near its strongest level since May 2023, fueled by renewed corporate demand for the currency. Chinese banks facilitated record foreign currency sales into yuan in December, driven by expectations of further gains and seasonal demand. Additional support came from the PBoC, whose daily reference rate has strengthened steadily, signaling tolerance for managed appreciation. As the yuan continued to rally, global banks are revising forecasts upward, with Morgan Stanley now seeing it reach 6.85 per dollar in Q1, while Australia & New Zealand Banking Group expects 6.85 by year-end, and Macquarie Group 6.8. Meanwhile, Deputy Governor Zou Lan said there is “some space” to cut reserve requirements and policy rates. Starting Monday, the PBOC will trim rates on structural monetary tools by 25 bps, lowering the one-year relending rate to 1.25% from 1.5%. Over the week, the yuan is poised for its largest weekly gain since May 2023.
