Asian stocks followed their U.S. peers lower Friday as traders weighed the economic threat of virus restrictions against optimism about the efficacy of vaccines.
Equity markets declined across Asia. U.S. futures were little changed after benchmarks ended a three-day rally amid losses consumer discretionary and real estate stocks. Treasuries were steady, with a lackluster sale of 30-year bonds paring gains on Thursday. Oil traded below $71 per barrel and Bitcoin edged higher. The dollar held overnight gains.
Chinese markets are in investors’ focus after China Evergrande Groupand Kaisa Group Holdings Ltd. officially defaulted on their dollar debt. Evergrande shares fell about 2%. Kaisa’s shares, which are also traded in Hong Kong, remained suspended.
China’s central bank took further steps to limit the yuan’s strength -- setting the weakest reference rate relative to estimates compiled by Bloomberg since 2018 -- a day after policy makers raised the foreign currency reserve requirement ratio for banks a second time this year. The yuan shrugged off the moves to advance further.
Meanwhile, the global equity rally faces further road bumps ahead from U.S. consumer inflation numbers on Friday and a Federal Reserve meeting next week that may give clues on the pace of tapering and interest rate increases.
The dollar was flat. It rose Thursday after a report showed applications for U.S. state unemployment benefits declined to the lowest level since 1969. However, economists flagged difficulties in seasonal adjustments to arrive at that figure.
US After Hours ORCL +10.5%, AVGO +6.3% up sharply on earnings; AOUT -19.1%, CHWY -7.7%, LULU -2.1% lower on earnings; AI +20.6% jumps on DoD deal
Nikkei -1% Hang Seng -0.90% CSI -0.69% Shanghai -0.29% Shenzen +0.21%
Eur$ 1.1296 CNH 6.3687 CNY 6.3645 JPY 113.58 GBP 1.3223 CHF 0.9248 RUB 73.69 TRY 13.85 WTI$ 70.64 GOLD 1773.30 -1.2% BTC 47,850 -150 ETH 4061 -100
S&P +0.06% Nasdaq +0.05% EuroStoxx -0.58% FTSE -0.45% Dax -0.60% SMI -0.41%
Macro :
- Bitcoin Losses Accelerate After Breaching Key Trading Levels
Keep an eye on :
- Bitcoin Losses Accelerate After Breaching Key Trading Levels
Keep an eye on :
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