Japanese stocks powered ahead toward a fresh three-decade high, bucking declines across Asia, while broader market sentiment remained muted as investors await a key US inflation data. The broad Topix index rose above a September intraday high to touch a 34-year peak as a weaker yen supported exporter stocks. The Nikkei 225 index jumped over 2% after the benchmark hit its highest since 1990 on Tuesday. Their gains helped nudge a gauge of Asian equities higher even as markets including mainland China and Hong Kong traded lower. US equity futures were little changed. The S&P 500 closed Tuesday down 0.2%, while the tech-heavy Nasdaq 100 managed an advance by the same magnitude, extending a rebound in tech stocks following heavy selling last week. Bitcoin rose over 1% to trade at around $46,167 after a bout of volatility that was spurred by speculation the US Securities and Exchange Commission had approved spot-Bitcoin exchange traded funds. The SEC said in a statement that it hadn’t yet given the nod for the ETFs, and said a conflicting post minutes earlier on the regulator’s official X account was untrue. Treasury 10-year yields and the dollar were steady in Asia trading. The yen extended its weakness against the dollar as a sharp slowdown in Japanese worker wage growth was seen limiting the Bank of Japan’s ability to exit its ultra-loose policy stance. Investor are looking to the US inflation report for guidance on the timing of the Federal Reserve’s rate cut. The cooling in headline inflation is set to reverse in the December data, according to Bloomberg Economics. A growing mismatch between aggressive pricing for US interest rate cuts and resilient economic fundamentals reducing the need for such easing risks creating a “reverse Goldilocks” scenario for global markets, according to Max Kettner at HSBC Holdings Plc. He sees the Fed starting its easing cycle in June, later than market pricing indicating May or even March. Among other data from Asia, Australia’s inflation moderated, boosting the case for interest rates to be kept unchanged. The Australian dollar rose against the greenback. China’s inflation, trade and credit reports are also due in the following days, and will offer a health check on the world’s no. 2 economy. Geopolitics remained in focus. China’s US envoy said the country had no room to compromise with those advocating for Taiwan independence. Oil rose on signs that US crude stockpiles are continuing to drop, and as more attacks on vessels in the Red Sea raised the risk that Middle East supply could be disrupted. US After Hours ETWO +12.7%, SGH +9.4%, PSMT +9%, WDFC +6.3% up on earnings; AEHR -15.6% tumbling after slashed FY24 guidance; crypto-related stocks falling after Bitcoin ETF approval head fake
Nikkei +2.01% Hang Seng -0.83% CSI -0.26% Shanghai -0.34% Shenzen -0.54%
Eur$ 1.0932 CNH 7.1844 CNY 7.1745 JPY 144.74 GBP 1.2704 CHF 0?8522 RUB 89.72 TRY 29.9701 WTI$ 72.61 Gold 2,029 BTC 45?952 ETH 2,384
S&P -0.11% Nasdaq -0.08% EuroStoxx -0.33% FTSE -0.30% Dax -0.32% SMI -0.42%
Macro :
- EU faces potential €450mn post-Brexit bill on empty London offices
- Convertibles Demand to Keep Growing Despite Rate Cuts: ECM Watch
- Convertibles Demand to Keep Growing Despite Rate Cuts: ECM Watch
- SEC X Account Compromised to Falsely Say Bitcoin ETFs Approved
- DeepMind spin-off aims to halve drug discovery times following Big Pharma deals
- RBC’s Calvasina Downgrades US Tech Stocks on Lofty Valuations
Keep an eye on :
Keep an eye on :
- ANIM IM : Italy Set to Clear Pignataro’s Ion Bid for Asset Manager Prelios
- ALC SW : Alcon Reports Positive Topline Results in Phase 3 Comet Trials
- MT NA : ArcelorMittal May Back Italy Control of Ex-Ilva Plant: Ansa
- BARC LN : Barclays 15% Pay Hike, SocGen, BNP 5-15% FICC Cuts Top 4Q Agenda
- BONAVA SS : Swedish Landlord Bonava Gets Approval to Extend Bonds to 2027
- CPRI US : Bill Gross Rides His Capri M&A Bet Even as Doubts Linger on Deal
- CPR IM : Campari Offering €1.2 Billion Shares, Bonds for Courvoisier Deal
- CGG FP : CGG Prelim FY Segment Revenue About $1.12B, Est. $1.12B
- DBHN GY : Deutsche Bahn Loses Court Bid to Stop Train-Drivers’ Strike
- FER SM : Ferrovial US Move Shows Pressure on Smaller Exchanges: ECM Watch
- GRF SM : Spain Securities Regulator Seeks to ‘Clarify’ Grifols Situation
- GRF SM : Grifols Denies Gotham Claims as Short Seller Triggers 26% Rout
- HLN LN : Haleon Deleverage Over Dividend Choice May Aid Growth vs. Kenvue
- IDIA SW : Idorsia Postpones Results; Cash Reserves to Last to Early April
- IMCD NA : IMCD Buys 70% of Valuetree in India; No Financial Terms
- INPST NA : InPost 4Q Parcel Volume 268.4M Vs. 222M Y/y
- JNPR US : HPE to Buy Juniper Networks for $14 Billion in Networking Bet ( HP Enterprise to Buy Juniper for $40 per Share)
- MBG GY : Neometals Says Primobius Received Order From Mercedes-Benz
- NIO US : Chinese EV-Maker Nio Cut at BofA on Dimmer Sales Outlook
- NN BA : NN Settles Unit-Linked Insurance Products Case for EU300m
- NDX1 GY : Nordex Group Gets Orders for 197 MW From UKA in Germany
- NOVOB DC : Novo Nordisk CEO Expects To Add Significant WEGOVY Volumes In 2024
- PKTM AV : Pierer Mobility Prelim FY Rev. EU2.65B to EU2.67B, Est. EU2.65B
- RDC GY : Redcare Pharmacy NV Prelim 4Q Revenue Beats Estimates
- RNO FP : Renault to End Car-Sharing Service Zity in Paris
- ROG SW : Roche CFO Still Sees 2023 Sales, Profit at Upper End of Guidance
- ROG SW : Roche Hunts for More Deals to Challenge Lilly, Novo on Obesity
- SIKA SW : Sika FY Sales Misses Estimates
- SKAB SS : Skanska Takes Property Related Impairment Charges of SEK2b
- SKAB SS : Skanska May Face More Property Headaches After 4Q Charge
- SW FP : Sodexo Says Pluxee Listing Prospectus Approved, Now on Website
- STAN LN : StanChart funds Rs 700 crore debt for ReNew arm
- TSLA US : Tesla Says Upgraded Model 3 Now Available in North America
- WIZZ LN : Wizz Air CEO Says Manufacturers Need Quality Control
- WIZZ LN : Wizz Air CEO Says Manufacturers Need Quality Control