Stocks in Asia traded cautiously Monday as investors brace for bond-market volatility and stimulus withdrawal. The dollar rose. Shares in Hong Kong advanced as technology stocks rebounded. They fell in South Korea, while China edged higher. U.S. futures swung between gains and losses after the S&P 500 posted the worst start to a year since 2016 as expectations of faster-than-anticipated U.S. interest-rate increases roiled bond markets. The tech-heavy Nasdaq 100 had its worst week since February amid a rotation out of high-growth equities. Japan is shut for a holiday Monday.
U.S. inflation data this week will be keenly watched as concerns grow the Fed is behind the curve in tackling elevated price pressures. U.S. employers added fewer staff than expected in December, but wages rose more than forecast, boosting the Fed’s case to tighten liquidity. Markets face increasing volatility as investors grapple with how to reprice assets as the pandemic liquidity that helped drive equities to record highs is withdrawn.
At the same time, the spread of omicron is posing a fresh test for economic activity. China is seeing its first omicron cases in the community, and as the Lunar New Year festivities approach, governments in Taiwan and Vietnam prepared to intensify curbs. Elsewhere, Bitcoin traded around $42,000 as cryptocurrencies continue to struggle. Crude oil steadied around $79 a barrel after recording the biggest weekly gain in a month.
Nikkei -Closed Hang Seng +0.75% CSI +0.30% Shanghai +0.25% Shenzen +0.44%
Eur$ 1.1334 CNH 6.3797 CNY 6.3739 JPY 115.79 GBP 1.3583 CHF 0.9203 RUB 75.4479 TRY 13.8214 WTI$ 79.02 +0.15% Gold 1,792.18 -0.24% BTC 42,180 -0.32% ETH 3,180 -0.30%
S&P +0.13% Nasdaq +0.37% EuroStoxx +0.39% FTSE +0.21% Dax +0.25% SMI /
Macro :
- China Wealth Fund CIC’s Ju Sees Slow Global Growth in 2022
- Beijing Steps Up Efforts to Contain Housing Risks: China Today
- Ethereum Beats Rivals with ‘Trade-Offs,’ Pantera’s Krug Says
- U.K. to Boost Scrutiny of Cloud Firms Incl. Google, Amazon: FT
- Strategist Who Called Retail Boom Sees S&P Bull Case Near 5,500
Spacs :
- Trump SPAC Financier’s Hydrogen Fuel Deal Gets Another Shot
- Branson Hints at Setting Up a Virgin Group SPAC in Amsterdam
Keep an eye on :
- ARL GY : Aareal Bank Motions for Supervisory Board Rejected by Court: HB
- AC FP : Hotel REITs Climb, Joining Friday Rally in Travel Stocks
- AML LN : Aston Martin Gauges Ford Executive’s Interest in Becoming CEO
- ATO FP : Atos CEO Warns on Profit, to Present Reorganization End-Feb.
- BSLN SW : Basilea Prelim FY Revenue Beats Estimates
- BCART BB : Biocartis Cash Position EU53.5M End-2021, Beats EU50m Guidance
- BMW GY : BMW Tops Lexus, Mercedes in U.S. Luxury Sales for Third Year
- CGG FP : CGG 4Q Segment Revenue Expected Around $301m, Up 12%
- CPG LN : PrimaryBid Set to Close Funding Round Led by SoftBank Fund: Sky
- CINE LN : Disney Shifts Pixar Film to Streaming in Latest Blow to Theaters
- CLASB SS : Clas Ohlson Dec. Sales +9%
- COV GY : Covivio to Buy More Than 640 Homes in Berlin for EU154m
- DAI GY : Mercedes to Build E-Drive Powertrains Fully In-House: AMW
- DHER GY : Foodpanda to Invest $22 Million in Taiwan, Hire 100 Engineers
- DIC GY : DIC Says Total Transaction Volume for 2021 Up to ~EU1.9B
- DIS US : Disney Shifts Pixar Film to Streaming in Latest Blow to Theaters
- IDIA SW : Swiss Biotech Idorsia Gets U.S. Approval for Insomnia Drug
- MOLN SW : Novartis Says Ensovibep Covid Drug Trial Meets Primary Endpoint
- NOVN SW : Novartis Says Ensovibep Covid Drug Trial Meets Primary Endpoint
- PEXIP NO : Pexip Adds $6.6m in Annual Recurring Rev During 4Q
- SKAB SS : Skanska Builds Bridge Replacement in New Jersey for $1.09b
- SMCP FP : European TopSoho Holds 8.03% of SMCP Capital: AMF
- SNH GY : Steinhoff’s Mattress Firm Group Files for IPO
- SWEDA SS : Dirty-Money Ties Worried Some at Swedbank While Bosses Kept Mum
- TGS NO : TGS Prelim 4Q Net Rev. About $119M
- VIE FP : Veolia Extends Tender for Suez Shares as Takeover Gets Closer