Shares in Asia rose ahead of US economic data and meetings from major central banks that will give fresh clues about the likelihood of interest-rate cuts next year. Hong Kong equity gauges rose, while stocks steadied in mainland China, as traders await decisions from a meeting of Chinese economic policymakers that may indicate how much stimulus to expect next year. Equity benchmarks also advanced in South Korea and Australia, while paring gains in Japan. That’s after a benign start to the week in the US, where traders sent stocks higher for a third straight day. The dollar weakened slightly while Treasury 10-year yields extended losses by two basis points. European stock futures ticked higher. Tuesday’s consumer price index will give Wall Street a sense of whether the disinflation trend is continuing. In China, the 2023 Central Economic Work Conference is expected to end Tuesday. The meeting will likely indicate a more proactive role for fiscal policy, including more front-loading of funding and strengthening implementation to improve policy efficacy, according to Bloomberg Economics. Meanwhile, the yen pared losses from its biggest decline in more than a month Monday that was triggered by a report saying Bank of Japan officials see little need to rush to scrap negative interest rates this month. US CPI is forecast to be flat at 0% thanks to a drop in energy prices, with monthly core inflation at 0.3%, according to economists tracked by Bloomberg. A survey conducted by 22V Research shows 46% of the investors polled think the market reaction to CPI will be mixed or negligible, 28% are betting on a “risk-off” event and only 26% see a “risk-on” response. Elsewhere, natural gas futures settled at the lowest in six months as forecasts shifted warmer for the US into early next year, signaling lackluster demand as production hits fresh records. Oil rose after falling to near a five-month low with oversupply concerns in focus after OPEC+’s pledges to extend and deepen output cuts failed to halt a slump in prices. Gold ticked higher after falling 1.1% on Monday to trade back below $2,000 an ounce. Bitcoin rose after posting its steepest drop in almost four months as traders moved to lock in profits following a more than 150% rally this year, triggering large liquidations of bullish bets. In the corporate world, Japan’s top utility Tokyo Electric Power Co. fell, reversing its recent rally after a 39% surge over the last four days made it the most overbought stock on Nikkei 225 Stock Average. Changxin Memory Technologies Inc. is delaying its initial public offering and will instead consider raising funds at about a 140 billion yuan ($19.5 billion) valuation, becoming the latest Chinese company to call off a debut because of volatile market conditions. US After Hours TARO +9.2% up big on M&A news; DFS +1.6% edges higher after naming a new CEO; ORCL -7.6%, CASY -0.2% both down following quarterly results
Nikkei +0.16% Hang Seng +1.10% CSI +0.07% Shanghai +0.27% Shenzen +0.05%
Eur$ 1.077 CNH 7.1878 CNY 7.1768 JPY 145.46 GBP 1.2582 CHF 0.8765 RUB 90.9906 TRY 28.9976 WTI$ 71.78 +0.64% Gold 1,987 +0.25% BTC 41,522 +0.82% ETH 2,223 +0.28%
S&P +0.06% Nasdaq +0.16% EuroStoxx +.013% FTSE +0.14% Dax +0.11% SMI +0.01%
Macro :
- Citadel Securities Revenue Jumps to $1.8 Billion on Volatility
- London to Lead Long-Awaited Slowdown in UK Rent Growth Next Year
Keep an eye on :
Keep an eye on :
- ADS GY : Judge to Hold Hearing on Adidas, Thom Browne Case on the 21st of Dec. - WWD
- ALV GY : Some German Insurers Have Exposure to Signa Property Empire: FT
- BAMI IM : *BANCO BPM TARGETS €4B SHAREHOLDER REMUNERATION IN PLAN HORIZON
- BNP FP : Mirae Asset Buys Sharekhan From BNP Paribas for INR30b: ET
- BA US : Boeing Cuts More Jobs Than Expected in Strategy Ranks: Reuters
- BP/ LN : BP Escalates Venture Global Feud With Complaint to US Regulators
- AFX GY : Carl Zeiss Meditec FY Ebit Misses Estimates
- COTV US : KKR Nears Deal to Buy Stake in Cotiviti From Veritas Capital -- WSJ
- DB1 GY : Deutsche Börse’s aborted proposal to Euronext highlights Europe’s IPO woes
- EGLE US : Star Bulk to Buy Eagle Bulk for $52.60/Shr Equivalent in Stock
- ENGI FP : GDF Offers to Buy Fondul Proprietatea’s Stake in Engie Romania
- EQT SS : EQT Confirms Acquisition of Majority Stake in HES
- ERICB SS : AT&T’s $14 Billion Ericsson Deal Heralds Open Phone Networks
- EFUEL NO : Nel Agrees to Sell All Shares in Everfuel for NOK116.6M
- EFEUL NO : Itochu, Osaka Gas to Acquire Up to 40% of Everfuel, Nikkei Says
- FAST NA : Fastned Unlikely to Reach Goal of >60 New Stations in 2023
- General Atlantic IPO : General Atlantic Is Said to Confidentially File for US IPO
- GPOR US : Gulfport Energy Holders Said to Seek Up to $85.5M in Share Sale
- GBT FP : Guerbet’s Elucirem Gets Approval in EU
- HPQ US : Warren Buffett’s Firm Almost Halves Stake in PC Maker HP Inc.
- IDR SM : Bain, Cinven Approach Indra Over Tech Unit Sale: El Confidencial
- INPST NA : Inpost Sees Parcel Locker Network Rising by 3k in UK in 2024:PAP
- KNTK US : Kinetik Holder Said to Seek Up to $192M in 6M Share Sale, Offering by Holder Apache Prices at $31.50/Share
- M US : Macy’s Value Is All About Real Estate in Potential Take-Private
- MUV2 GY : Some German Insurers Have Exposure to Signa Property Empire: FT
- NEL NO : Nel Agrees to Sell All Shares in Everfuel for NOK116.6M
- NOD NO : Nordic Semiconductor Names Wollan CEO, Larsen Stepping Down
- NOKIA FH : Nokia Cuts Comp Operating Margin Target to at Least 13% by 2026
- NOKIA FH : Nokia, Deutsche Telekom Start Deploying German Open RAN Network
- NVDA US : US Is Looking Into Nvidia’s AI Chips for China, Raimondo Says
- ORA FP : EU to Restart Clock on Orange-Masmovil Tuesday: Expansion
- PRU US : Prudential Plans to Buy Back Up to $1 Billion Shares
- PUM GY : Puma to End Sponsorship of Israel’s National Football Team: FT
- SAN FP : Sanofi to Terminate Partnership With Maze After FTC Challenge
- SAP GY : *ORACLE FALLS 6% AFTER 2Q ADJUSTED REVENUE MISSES ESTIMATE
- SBOW US : SilverBow Resources Holder Said to Seek Up to $48M in Share Sale
- SXS LN : Spectris Sells Red Lion Controls for $345m, Plans Stock Buyback
- SRBNK NO : Fremtind Forsikring, Eika Forsikring Enter MOU for Merger
- SHEL LN : Shell to Sell Stakes in Two US-Based Renewable Energy Projects
- STS GY : Steico's MSCI ESG Rating Lowered to CCC from B
- SYENS BB : Syensqo to Join Belgium’s BEL 20, Barco to Leave
- SYENS BB : Syensqo to Join Belgium’s BEL 20, Barco to Leave
- URW FP : Mall REITs' Seven-Year Famine Pivots, With Feast Meager for Now
- UCG IM : UniCredit Says ECB Set Minimum CET1 Ratio at 10.03% for 2024
- X US : US Steel Investor Cashes in Call Spreads With Shares Rallying