Asian stocks rallied, with MSCI’s regional gauge nearing a record high, after US inflation and jobless claims data cemented expectations the Federal Reserve will cut interest rates next week. Benchmark share indexes rose in Japan, South Korea, Australia and Hong Kong, outweighing a mixed day for mainland China equities. Chipmakers including SK Hynix Inc., Samsung Electronics Co. and Taiwan Semiconductor Manufacturing Co. were among the biggest contributors to Friday’s gains. The MSCI regional equity gauge has now climbed more than 20% this year, and is within 0.3% of its all-time high set in 2021. The bullish moves Friday followed new record on Thursday for the S&P 500, the tech-heavy Nasdaq 100 and MSCI index of global shares. US inflation data published Thursday showed consumer price index data stripping out food and energy rose 0.3% in August, in line with economists forecasts. Weekly jobless claims increased to the highest level in almost four years, emboldening bets Fed policymakers will lower rates at their Sept. 16-17 meeting. Alibaba Group Holdings Ltd. shares jumped as much as 7.3% in Hong Kong after the company’s US-listed depositary receipts rallied 8% Thursday amid optimism over the company’s steps to boost its AI infrastructure budget. Treasuries edged lower in Asia after rallying Thursday following the US economic data. Bloomberg’s gauge of the dollar gained 0.1%, but still heading for its biggest weekly decline in a month. In Asia, data on the docket for release includes industrial production for Japan and inflation for India. Money supply and new loans data for China may be released any time through Sept. 15. Elsewhere, Hyundai Motor Co. said a battery plant that was raided by US immigration authorities is being delayed as the companies faced labor shortages. Oil fell for a second day after the International Energy Agency projected an even bigger surplus next year, with the bearish outlook offsetting concerns about global geopolitical tensions. Gold headed for a fourth weekly gain. Microsoft Corp. shares climbed in post-market trading after the tech giant and OpenAI said they had reached an agreement, while Adobe Inc. shares also advanced in extended trading after it gave a strong quarterly revenue outlook. A slowing US jobs market has prompted markets to price a more aggressive trajectory of policy easing. Swaps pricing indicates traders anticipate the equivalent of between two or three quarter point cuts through year-end. US After Hours ADBE +3.3% trading higher on earnings; SMCI +4.3% on availibility of NVIDIA's Blackwell Ultra Systems; RH -3.3% lower on earnings.
Nikkei +1.01% Hang Seng +1.41% CSI -0.13% Shanghai +0.24% Shenzen +0.26%
Eur$ 1.1722 CNH 7.1193 CNY 7.1220 JPY 147.52 GBP 1.3552 CHF 0.7970 RUB 84.7993 TRY 41.3599 WTI$ 61.85 -0.83% Gold 3,653 +0.53% BTC 115,344 +0.53% ETH 4,512 +2.15%
S&P +0.02% Nasdaq +0.07% EuroStoxx +0.26% FTSE +0.25% Dax +0.28% SMI +0.14%
Macro :
- EU Watchdog Seeks to Fix Equivalence Dilemma for UK Covered Debt
- Utah Governor Says Plans to Pursue Death Penalty in Kirk Killing
- Japan, US Won’t Manipulate FX for Competitive Advantage
- Bessent, Chinese Vice Premier to Meet in Madrid Next Week: Rtrs
- Ackman Says He’ll Create $1m ‘Endowment’ for Kirk’s Family
Keep an eye on :
- BABA US : Alibaba’s Shares Soar After Investors Buy Into Big AI Moves
- RNA US : Avidity Biosciences Upsized Offering Prices at $40/Share
- AVIO IM : Rocket Maker Avio May Weigh €300 Million Capital Raise
- BALN SW : Helvetia, Baloise Receive Further Approvals for Merger
- BAVA DC : Bavarian Nordic Shareholders Unite Against Takeover, Finans Says
- BBVA SM : Sabadell Board Recommends Shareholders Not to Accept BBVA Bid
- BNP FP :US trial begins over alleged BNP Paribas role in rights abuses in Sudan, Bank’s lawyer responds that it ‘isn’t to blame’ as class action by Sudanese refugees kicks off in New York courtroom - FT
- BA US : Boeing Falling Behind Certification Timeline for 777X Jet
- CAMT US : Camtek Said to Offer 30% to 35% Premium on $400 Million Convert
- Clearscore IPO : Clearscore Mulls IPO Within Next 2 Years, Eyes UK Listing: FT
- ENX FP : Euronext to Be Added to CAC 40 Index; Teleperformance Excluded
- Gemini Space IPO : Gemini Space Station IPO Shares Priced at $28 Each
- KER FP : Artemis Won’t Exit Puma Stake at Current Market Value: Reuters
- KESKOB FH : Kesko Aug. Comparable Sales +0.2%
- Legence IPO : Legence IPO Prices at $28/Share, in Upper Half of Range
- MTG SW : Meier Tobler to Launch Second Tranche of Share Buyback
- MSFT US : Microsoft to Put More Computing Power Behind In-House AI Models
- NVDA US : Nvidia Backs PsiQuantum in Round at $7 Billion Value
- NVDA US : OpenAI, Nvidia CEOs Set to Announce UK Data Center Investments
- OCDO LN : Ocado Shares Fall as US Grocer Kroger Focuses on Store Delivery
- PLX FP : Pluxee Agrees to Buy ProEves; No Terms
- RHM GY : Rheinmetall chief calls for more investment in low-cost anti-drone capabilities
- RYA ID : Ryanair prepared to cut 1mn more seats from Spain flights next summer
- SAB SM : Sabadell Board Recommends Shareholders Not to Accept BBVA Bid
- SFER IM : Salvatore Ferragamo CFO La Tour to Depart Effective Sept. 26
- SFER IM : Salvatore Ferragamo CFO La Tour to Depart Effective Sept. 26
- StubHub IPO : StubHub IPO Is Said to Be Oversubscribed on Early Demand
- TEP FP : Euronext to Be Added to CAC 40 Index; Teleperformance Excluded
- TEM US : Tempus Shares Climb 17% After AI Radiology System Gets Clearance
- TSLA US : Tesla Is Approved to Begin Testing Autonomous Vehicles in Nevada
- VK FP : Petrobras Chooses Vallourec to Support Offshore OCTG Projects
- VK FP : Petrobras Chooses Vallourec to Support Offshore OCTG Projects
- WBD US : Paramount Reportedly Preparing Bid For Warner Bros: TMT Wrap