Here's what happened in China's markets last trade day (12/11):

1. Huawei hasn’t finished surprising the US with its ability to defy the strongest tech sanctions leveled at any company:
- Huawei defies intense US sanctions, releasing the 5G-capable Mate 60 Pro smartphone and hinting at more breakthrough products in 2024.
- Mate 60 Pro competes with Apple's iPhone, and rumors suggest Huawei's launch of a 5nm chipset laptop, signifying China's technological leap.

2. China's CPI & PPI Drop:
- China's Consumer Price Index (CPI) falls 0.5% in November, below market expectations, signaling potential deflation concerns.
- Producer Price Index (PPI) drops 3%, worse than expected, marking the 14th consecutive YoY decline, indicating ongoing struggles for manufacturers.

3. Surge in China's Auto Sales:
- China's automobile sales surge 27.4% YoY in November, reaching 2.97 million units, with electric vehicles (NEV) driving growth.
- NEV industry records a 39.8% sales increase in November, contributing to a projected record-high annual sales figure.

4. Brokerage Closures Amid Hong Kong's Bear Market:
- Hong Kong Stock Exchange reports 30 local brokerages closing in 2023, adding to last year's 49 closures, reflecting the bear market.
- Hong Kong's market struggles with declines, reduced IPO deals, and a 14% drop in average daily turnover, signaling industry challenges.

5. TikTok's E-commerce Revival in Indonesia:
- TikTok resumes its e-commerce efforts in Indonesia through a joint venture, acquiring 75% of Tokopedia for $840 million.
- The move poses a threat to local incumbents like Sea Limited's Shopee and Alibaba's Lazada, expanding TikTok's overseas presence.