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The Hang Seng Index fell by 1.6%; Led by industrial and commercial stocks, the Hang Seng Index fell 1.6% to 20,072.69 in Hong Kong. In midday trading, industrial and commercial stocks led the market down, and all kinds of stocks fell; Of the 83 stocks, 75 fell and 7 rose. Meituan dragged down the index the most, falling by 2.8%. Budweiser Asia Pacific suffered the biggest decline, down 6.1%.German authorities predict that the German economy will stagnate in 2025. On the 12th, local time, Kiel Institute for World Economics, one of the authoritative German economic research institutes, released a winter forecast, predicting that the German GDP will stagnate in 2025, neither increasing nor decreasing, which is 0.5% lower than the previous autumn forecast. Germany's GDP will shrink by 0.2% in 2024, compared with the previous autumn forecast of 0.1%. The agency believes that Germany's potential signs of weak economic growth are emerging, not only facing the foreseeable impact of the US tariff increase, but also the domestic industrial crisis is intensifying. (CCTV Finance)The Philippines' current account deficit in the third quarter was $5.7 billion.

Market News: The motion of impeaching South Korean President Yin Xiyue was reported to the South Korean National Assembly.Guangdong has issued a batch of personnel appointments and dismissals. According to the news of WeChat official account, the Guangdong Provincial People's Government has appointed and dismissed staff. Appoint Guan Jin as the deputy director of the General Office of Guangdong Provincial People's Government for a trial period of one year; Appointed Chen Yongkang as Deputy Director of the Guangdong Provincial Department of Justice; Zhang Hezhi was appointed as the deputy director of the Development Research Center of Guangdong Provincial People's Government; Appointed Ke Mofu as Deputy Director of the Local Records Office of Guangdong Provincial People's Government; Liu Huilin was appointed as the deputy director of the Development Research Center of Guangdong Provincial People's Government for a trial period of one year. Li Mingliang was removed from the post of chairman of Guangdong Inspection and Certification Institute Group Co., Ltd.; Jin Ping was removed from the post of deputy director of the Guangdong Provincial Ethnic and Religious Affairs Committee and retired; Lai Haibin was removed from the post of director (deputy department level) of Guangdong Ecological Environmental Protection Supervision Office and retired; Jiao Fangtai was removed from the post of vice president of Guangdong University of Foreign Studies and retired; Chen Tinggen was removed from the post of vice president of Wuyi University and retired; Wu Qifeng was removed from the post of Dean of Guangdong Songshan Vocational and Technical College and retired; Jasmine Zhang was removed from the post of president of Maoming Vocational and Technical College and retired; Tan Xuerui was removed from the post of Dean of Shantou University School of Medicine and retired.Wang Tao of UBS: It is estimated that deficit ratio will approach 4% of its financial resources or increase its investment in social security medical care next year. Wang Tao, head of Asian economic research and chief China economist of UBS, said that China's fiscal deficit ratio is expected to approach 4% next year, and the scale of ultra-long-term special government bonds excluding capital injection into state-owned banks may be 2 trillion yuan, and the amount of new local government special bonds may be 4.5 trillion to 5 trillion yuan. In fact, the fiscal expansion next year is relatively mild compared with the fiscal stimulus in 2008-2009. Wang Tao believes that next year, the government will increase investment in social security and medical care, and establish a more perfect social security system while boosting residents' confidence in the short term.

India's NIFTY50 index fell 1% to 24,301.30 points, and India's SENSEX index fell 1% to 80,476.70 points.The turnover of Shanghai, Shenzhen and Beijing exceeded 1.5 trillion yuan, 67.5 billion yuan more than the previous day. Up to now, the turnover of Shanghai, Shenzhen and Beijing exceeded 1.5 trillion yuan, 67.5 billion yuan more than the previous day. Among them, the turnover of Shanghai Stock Exchange was 600.1 billion yuan, that of Shenzhen Stock Exchange was 885.3 billion yuan, and that of Beizheng 50 was 15.5 billion yuan.Guangzhou Metro won the Asian Games Avenue plot in Panyu District, Guangzhou with a reserve price of 1,183.96 million yuan. According to the website of Guangzhou Public Resource Trading Center, on December 13th, Guangzhou Metro Group Co., Ltd. won the Asian Games Avenue plot BD0210116 in Panyu District, Guangzhou, Guangdong Province with a reserve price of 1,183.96 million yuan. According to the transfer documents, the plot is planned to be a second-class residential land, a primary and secondary school land and a commercial land compatible with roads and transportation facilities; The parcel area is 99,936.54 square meters, of which the leased parcel area is 85,151.63 square meters, and the calculated floor area ratio is 118,396 square meters.