The offshore yuan fell after Chinese policy makers acted to restrain its strength by making it easier to bet against. Most Asian stocks gained led by China.
The yuan fell as much as 0.7% against the dollar, which ticked higher against major peers. S&P 500 futures fluctuated after the benchmark ended higher last week, with some traders betting lawmakers are moving closer to reaching an agreement on stimulus. Chinese shares led regional gains as investors mulled an expected visit by President Xi Jinping to Shenzhen this week amid optimism he could unveil plans to further open parts of the economy to foreign investment. Hong Kong stocks also climbed, with a more modest rise seen in South Korea and Australia. MSCI’s gauge of Asia Pacific stocks was at the highest since June 2018.
Elsewhere, Japanese equities bucked the trend and retreated. Crude oil declined and gold slipped. Treasuries won’t trade Monday due to a U.S. holiday.
Nikkei -0.22% Hang Seng +2.32% CSI +2.67% Shanghai +2.44% Shenzen +2.81%
Eur$ 1.1828 CNH 6.7139 CNY 6.7169 JPY 105.46 GBP 1.3040 RUB 76.9041 CHF 0.9103 WTI$40.52 -1.63%
S&P +0.31% Nasdaq +0.50% EuroStoxx +0.65% FTSE +0.15% Dax +0.65% SMI
Macro :
- EU Weighs Creating Bad-Banks Network, Boersen-Zeitung Says
- The Case for Buying Asia Stocks Over U.S. Ones as Election Nears
- U.K.’s Johnson Will Make Statement to MPs on Monday: Sky
- Europe’s Record Cash Pile Set to Prime Next Stage of Bond Rally
- ECB’s Schnabel Tells Germany Not to Fear Rising Public Debt
- JPMorgan Says U.S. Capital Gains Tax Hike May Briefly Hit Stocks
Spacs :
- Och-Ziff Founder Seeks to Raise Up to $750M for Blank Check Co.
- Boston Red Sox Owner Said to Be in Talks With Beane’s RedBall
- Blank-Check Firm Backed by Boston Omaha Cuts IPO Size to $150M
Keep an eye on :
- AIR FP : Aerospace Executives Urge Conditions for Green Fuel Use: FT
- AAPL US : Apple Starts Shipping Devices From Stores to Speed Up Deliveries
- ASML NA : ASML Traders See More Earnings-Day Swings; Philips Expect Less
- AZN LN : AstraZeneca to Get About $486M for Covid-19 Monoclonal Antibody
- IAG LN : London to New York ‘air corridor’ could be in place by November
- BZU IM ; Buzzi Unicem Plans Special Dividend EU0.75/Share
- CSGN SW : Vatican Sold Charitable Assets to Repay EU242m CS Loan: FT
- DBK GY : Deutsche Bank Executive Says Private Bank Key for Lender’s Goals
- DWNI GY : Deutsche Wohnen ‘Different’ to Vonovia, CEO Tells Handelsblatt
- EDP PL : EDP-Energias Says Nine-Month Electricity Generation Falls 5%
- ENGI FP : Engie Says Will Appeal Court Decision on Veolia-Suez: AFP
- ENX FP : S&P Places Euronext ‘A-’ Ratings on Watch Negative
- FIT US : EC Still Talking to Fitbit/Google Competitors in Review: CTFN
- IHG LN : U.K. Hospitality Industry to Challenge New Lockdown Rules: Rtrs
- SHBA SS : Handelsbanken Shares Worth Buying, Dagens Industri Says
- KPN NA : EQT Is Said to Explore Takeover of $11 Billion Carrier KPN (2)
- LAND SW : Landis + Gyr First Half Adjusted Ebitda $50.1 Mln
- NSKOG NO : Norske Skog Hires KPMG for Review of N.Z. Newsprint Operations
- PSON LN : Pearson Investors Push for Chairman Departure, FT Says (Earlier)
- SEV FP : Veolia Says Court Ruling Doesn’t Affect Ownership of Suez Shares
- RDSA LN : Shell Reploying Drill Ships, Offshore Crews After Delta Passes
- SOW GY : Software AG Confirms Public Data Release After Malware Attack
- STM GY : Stabilus Prelim Full Year Adjusted Ebit Margin 11.7%
- TECN SW : Tecan to Join SMIM Index on Oct. 16 Following Sunrise Takeover
- VIE FP : Veolia Says Is Appealing Interim Order by Paris Judge on Suez
- VNA GY : Deutsche Wohnen ‘Different’ to Vonovia, CEO Tells Handelsblatt
- VOW3 GY : Audi Sees Loss in 2020 on Coronavirus, CEO Tells Automobilwoche