investingLive Asia-Pacific FX news wrap: Prospect of a BoJ Dec 19 rate hike firms further

• Reserve Bank of India rate cut by 25bp
• BOJ likely to hike in December, Bloomberg says; yen jumps on report
• PBOC reins in yuan strength, signalling comfort with current level before key policy event
• USD/INR eases from record highs as markets await RBI decision and guidance
• Chinese GPU makr surges 400% amid booming demand for Nvidia alternatives: "China's Nvidia"
• Japan’s PM Takaichi shifts tone to calm markets as rising yields test fiscal credibility
• Copper rally accelerates on electrification and AI demand, with forecasts up to $14,000/t
• SoftBank’s Son nears plan for Trump-branded AI factories funded by Japan
• Gold’s explosive rally may reflect a monetary regime shift, not a classic bubble
• India stocks to rise ahead of RBI call as rupee slide challenges rate-cut bets
• Recap: Japan household spending drops sharply, adding pressure ahead of BOJ rate decision
• PBOC sets USD/ CNY reference rate for today at 7.0749 (vs. estimate at 7.0751)
• INR traders heads up: Reserve Bank India rate cut expected today at 0430 GMT/2330 Eastern
• Japan finmin Katayama: Will closely monitor market developments (plus wider comments)
• Poll: RBA expected hold at 3.60% this month as outlook shifts to long pause through 2026
• China debt crackdown pushes LGFVs into costly shadow loans, reviving hidden-risk worries
• Japan metalworkers union seeks bigger wage hikes, reinforcing BOJ rate-hike expectations
• Japan data huge miss - Household spending plummets in Oct, down 3% y/y vs. +1% expected
• Gold steady around $4,210 as markets await PCE data and next week’s Fed meeting
• BOJ secures support for December hike but long-term rate path remains unclear
• USTR Greer calls for smaller, balanced China trade and tighter USMCA enforcement
• US stocks finish flat as Fed-cut hopes rise but Amazon drags S&P 500
• AMD ready to ship licensed AI chips to China and pay 15% Trump fee
• JP Morgan says Strategy risk, not gold, is key to bitcoin’s $170k. Read between the lines.
• investingLive Americas market news wrap: Initial jobless claims tumble

Local markets traded in a relatively subdued fashion on Thursday as investors looked ahead to Friday’s U.S. Personal Income and Outlays report (0830 ET), which will finally deliver the delayed September PCE and core PCE inflation readings following the government shutdown.

From Japan, October household spending disappointed sharply, falling 3.0% y/y and 3.5% m/m, well below expectations. The slump highlights fragile consumer demand and adds a layer of complexity to the Bank of Japan’s assessment ahead of its December policy meeting.

The Wall Street Journal reported that SoftBank CEO Masayoshi Son is working with the White House on a plan to build “Trump Industrial Parks” on U.S. federal land, potentially deploying hundreds of billions of dollars in capital linked to the recent U.S.–Japan trade deal.

In China, Friday’s USD/CNY fixing almost fully removed the recent strengthening bias following a rebound in the U.S. dollar. By setting the fix close to market estimates, the PBOC signalled comfort with current yuan levels and appears intent on maintaining currency stability ahead of the Central Economic Work Conference and Politburo meetings later this month.

Commodities were mixed:

• Gold held around USD 4,200–4,215/oz.
• Copper touched a three-month high on the LME.
• Oil softened slightly.

In corporate news, reports that Netflix is in exclusivity talks to acquire Warner Bros. Discovery’s studios and streaming assets for $28 per share.

On the central-bank front, Bloomberg reported that the BOJ is leaning toward a 25bp rate hike at its 18–19 December meeting, which would lift Japan’s policy rate to 0.75%, the highest since 1995. Officials reportedly believe markets correctly interpreted Governor Ueda’s recent comments as a strong hint toward tightening and may signal openness to further cautious hikes if conditions allow.

Meanwhile, the Reserve Bank of India delivered a 25bp rate cut despite rupee weakness and resilient domestic growth. The cut was expected, but the expectations was by no means unanimous given improved data recently.

Asia-Pac stocks:

• Japan (Nikkei 225) %
• Hong Kong (Hang Seng) %
• Shanghai Composite %
• Australia (S&P/ASX 200) %