Asia Market Movers: China eyes pragmatic 2026 growth target near 5% (while onshore yuan surges higher!)

Tuesday, 16 Dec, 2025 News China eyes pragmatic 2026 growth target near 5% (while onshore yuan surges higher!) China is likely to set a pragmatic and flexible GDP growth target for 2026, with policymakers seeking to balance stabilisation objectives against mounting external and domestic pressures, according to Stocks ICYMI - Ford takes US$19.5bn EV charge as strategy pivots to hybrids Ford Motor is taking a major step back from its electric-vehicle ambitions, announcing roughly US$19.5 billion in charges largely tied to its loss-making EV operations, as the automaker pivots toward Learn more News New Zealand fiscal outlook darkens as finance minister Willis sticks to discipline New Zealand's government has signalled a prolonged period of fiscal strain, with updated forecasts showing no return to a budget surplus over the next five years, as Finance Minister Nicola Willis dou Central Banks PBOC sets USD/ CNY reference rate for today at 7.0602 (vs. estimate at 7.0444) The People's Bank of China (PBOC), China's central bank, is responsible for setting the daily midpoint of the yuan (also known as renminbi or RMB). The PBOC follows a managed floating exchange rate sy News Japan preliminary December PMI shows modest growth as services offset factory weakness Japan's private sector ended 2025 on a firmer footing, with business activity continuing to expand despite softer momentum and persistent weakness in manufacturing, according to the latest flash PMI d Central Banks PBOC is expected to set the USD/CNY reference rate at 7.0444 – Reuters estimate The People's Bank of China is due to set the daily USD/CNY reference rate at around 0115 GMT (2115 US Eastern time), a fixing that remains one of the most closely watched signals in Asian foreign exch News New Zealand bonds - NZDMO cuts near-term bond issuance but lifts medium-term outlook New Zealand's Debt Management Office (NZDMO) has trimmed its near-term bond issuance plans, offering modest relief to the government bond market even as borrowing needs remain elevated over the medium News Australian consumer sentiment falls sharply in December: Westpac Australian consumer confidence fell sharply in December, reversing the tentative improvement seen the previous month, as renewed concerns over inflation and interest rates weighed on household sentime Learn more Central Banks ECB/NFP preview - Morgan Stanley sees euro gain if ECB avoids rate pushback, 1.30 longterm The euro could be poised for further gains in the near term if European Central Bank President Christine Lagarde refrains from pushing back forcefully against market pricing for higher interest rates

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