Shares tumbled Monday amid intensifying concern over rising global interest rates and as Chinese investors returned from a week-long holiday to tighter restrictions on American technology. A gauge of Asian equities dropped by more than 1%, led by tech stocks in Hong Kong, while US futures also slid. A rebound in Covid cases in China added to the downbeat tone. Commodities declined as traders weighed mounting risks to economic growth. The US measures include restrictions on the export of some types of chips used in artificial intelligence and supercomputing, and also tighter rules on the sale of semiconductor equipment to any Chinese company. Bond yields climbed in Australia and New Zealand, following gains in Treasury yields on Friday, after strong US labor data solidified wagers that the Federal Reserve will raise rates by 75 basis points for a fourth straight time next month. The dollar fluctuated versus its Group-of-10 counterparts while China set its reference rate for the yuan stronger than expected for a 28th day. Oil eased as risks to energy demand stemming from tighter monetary policy halted a rally triggered by OPEC+’s decision to cut supply. Gold steadied in Asia after plunging below the $1,700 an ounce mark last week. All eyes will now be on this week’s US inflation data after a hotter-than-expected reading in August tempered hopes of a nascent slowdown. Separately, minutes from the Fed’s September meeting will give clues into the central bank’s tolerance for economic pain. Markets are closed for a holiday in Japan. The US bond market is closed but the stock market will be open.
Nikkei -0,7&% Hang Seng -2,40% CSI -0,96% Shanghai -0,48% Shenzen -0,92%
Eur$ 0,9738 CNH 7,1224 CNY 7,1126 JPY 145,43 GBP 1,1079 CHF 0,9940 RUB 62,1750 TRY 18,6263 WTI$ 91,76 -1% Gold 1,687,64 -0,5% BTC 19,460 -1,3% ETH 1324 +2%
S&P -0,49% Nasdaq -0,54% EuroStoxx -1,12% FTSE -0,64% Dax -1,08% SMI -0,82%
Macro :
- Investors on Guard as Stocks Rally Sputters Ahead of Data Deluge
- ECB’s Nagel Wants Significant Rate Hikes to Fight High Prices
- EU Wants US to Rethink Inflation Reduction Act Tax Breaks: FT
- German Commission Proposes Two-Step Gas Price Cap Plan: Spiegel
- Bitcoin Chart Pattern Brings Warning of Volatility Spike, Losses
Keep an eye on :
- AAL LN : Angola Raises Capital Levels for Lenders to 15 Billion Kwanzas
- AMZN US : Amazon to Invest EU1b in European EV Fleet in Next 5 Yrs: Rtrs
- AMS SW : AMS-Osram CFO Ingo Bank Won’t Extend Contract Beyond April 2023
- CSGN SW : Credit Suisse’s Wild Week Saw Jittery Clients, Big Stock Swings
- EDF FP : UK, France Plan to Take Control of Sizewell C Nuclear Plant: FT
- EDF FP : EDF Struggling to Restart Nuclear Reactors for Winter: Les Echos
- FRAS LN : Frasers Group Buys Sneakerboy for Undisclosed Amount: AFR
- GAM SW : Bantleon Cuts Stake in Gam Holding, Now Holds 9.41% of Shares
- G IM : €2.8 Trillion Italy-Debt Crisis Risks Ensnaring Generali, Unipol
- GLEN LN : BHP-Glencore Mine Says Peru Project May Get Approval This Year
- INPST NA : InPost: Polish 2022 E-Commerce Market Volume to Rise by 10%-15%
- ISP IM : Intesa Rules Out Participation in East African Crude Oil Project
- B4B GY : Sligro Registered as Interested Party in Metro Belgium Ops
- PIRC IM : Pirelli Set to Name Sinochem’s Li Fanrong as New Chairman
- RNO FP : Nissan Presses Partner Renault to Sell Down Its Stake -- WSJ
- RNO FP : Nissan Mulls Raising Funds to Buy Renault Stake, Reuters Says
- SLIGR NA : Sligro Registered as Interested Party in Metro Belgium Ops
- STLA IM : GME, Stellantis Signs Non Binding MOU on Nickel, Cobalt
- TSLA US :
- TGS NO : TGS Prelim 3Q IFRS Net Revenue About $135M Vs $200M Year Earlier
- TTE FP : TotalEnergies Offers Earlier Pay Talks If Refinery Strikes End
- TWTR US : Twitter Drifts Away From Musk’s Offer as Funding Doubts Loom
- VWS DC : Vestas, Clean-Tech Peers Could Get Boost From European Carbon
- VOD LN : American Tower Is Said to Weigh Offer for Vantage Stake