Headlines discussed at LNWM”s Monday morning briefing:
— Orders for US durable goods fell by 2% in Nov. (from the month earlier) well below the 1.5% increase expected.
— Profits at Chinese industrial firms rose 5.4% in Nov. (year-over-year), but weak domestic demand could hurt 2020 outlook.
— US new home sales (12% of the market) rose 1.3% in Nov. and 17% from a year ago, boosted by lower interest rates.
— Oil prices gained on lower US inventories and optimism about global growth, given US-China Phase 1 agreeement.
— Despite six months of massive protests, falling retail sales and GDP, Hong Kong’s stock market is up about 12% in 2019.
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