Japan’s stocks led an advance in Asian equities while the dollar fell as investors awaited US inflation data that will help clarify the path for Federal Reserve policy. Benchmark Japanese share gauges were poised to notch fresh three-decade highs, thanks in part to the yen’s recent weakness. Stock indexes on mainland China were locked in a narrow range while US equity futures extended the morning session’s gains. Stocks in Hong Kong were on course to snap their longest stretch of losses since August. Over in China, global fund giant Loomis Sayles & Co. is turning more positive on the nation’s battered real estate sector, saying recent debt restructuring arrangements are bearing fruit. South Korea’s equities and bonds edged higher after the central bank shifted to a more neutral policy stance, with the board essentially calling time on any further rate hikes after standing pat. US stock futures built on Wednesday’s gains when the S&P 500 closed 0.6% higher and the tech-heavy Nasdaq 100 rose 0.7%. The moves extended a rebound in tech following heavy selling last week and come ahead of fourth-quarter earnings season, which broadly kicks off with a slew of bank results Friday. Contracts for the region-wide Euro Stoxx 50 index also gained. A gauge of global equities has climbed this week after registering its biggest weekly loss since October amid expectations that the Fed is set to lower rates this year. The US Securities and Exchange Commission approved ETFs that directly invest in Bitcoin. The digital currency rose as much as 3.8% to trade above $47,700 early Thursday before paring gains to hover around $46,600.
Treasuries were broadly flat in Asian trading after declines in the prior session while the dollar weakened against all its Group-of-10 peers. Investors are gearing up for a bout of turbulence when the US consumer price data come out later Thursday. Bond traders have trimmed bets on gains for Treasuries this month, and the swaps market shows a lower chance of expected Fed cuts by March relative to pricing late last year. Economists tracked by Bloomberg expect year-over-year core inflation to fall to 3.8% in the December data from 4% in the prior month. Fed Bank of New York President John Williams said Fed officials need to see more signs of cooling in the economy before reducing interest rates, but noted current policy levels are adequate to bring inflation back to the central bank’s target. In Asia, Australia’s trade balance for November rose more than expected as imports fell and exports grew more than consensus forecasts. Other data set for release includes consumer confidence in Japan, while December new lending and M2 money-supply data for China could be released as soon as today. South Korea’s central bank will hand down a monetary policy decision. The offshore yuan eked out a gain as China’s central bank set its currency fixing at the strongest since November relative to estimates, in a sign of support after a recent slump.
Oil held a drop after an unexpected increase in US stockpiles, which overshadowed rising geopolitical risks in the Middle East. Gold edged higher. US After Hours DCGO +6% on guidance, short seller report rejection; KBH -2.9% slipping following earnings; C -2.1% down on Q4 pretax results.
Nikkei +1.77% Hang Seng +1.61% CSI +0.50% Shanghai +0.25% Shenzen +1.53%
Eur$ 1.0976 CNH 7.1733 CNY 7.1621 JPY 145.41 GBP 1.2764 CHF 0.8497 RUB 89,6194 TRY 29.9721 WTI$ 71.66 Gold 2,032 BTC 46,348 ETH 2,610
S&P +0.23% Nasdaq +0.37% EuroStoxx +0.69% FTSE +0.36% Dax +0.62% SMI +0.28%
Macro :
- SEC Approves Bitcoin-Spot ETFs in Milestone for Digital Assets
- UK Commits to Another Large-Scale Nuclear Plant in Net Zero Push
- Citi Quants Favor Growth Stocks, Suggest Leaning Into Value
Keep an eye on :
Keep an eye on :
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