Asian stocks fluctuated as traders assessed how close the Federal Reserve is to peak interest rates after US inflation data. Alibaba Group Holding Ltd. dragged Hong Kong shares lower on a report its early backer is moving to cut its holdings. Emerging-market currencies in Asia strengthened, following their global peers, as some investors bet the the Fed will just hike one more time. The Aussie rallied after job data beat forecasts. Shares of Alibaba slid as the Financial Times said SoftBank Group Corp. is selling the majority of its stake in the Chinese tech giant. Embattled property developer Sunac China Holdings Ltd. tumbled by a record when its stock trading resumed in Hong Kong after a yearlong halt, dragging sentiment down. US futures edged higher on Thursday after both the S&P 500 and tech-heavy Nasdaq 100 closed Wednesday near session lows. The US dollar weakened against most of its major peers, while Treasury yields stayed in a narrow range, with the two-year holding below 4%. US inflation data offered evidence for both bond bulls and bears. While the year-on-year headline figure fell, core prices edged higher. Swaps markets showed the odds are still in favor of a quarter-point Fed hike in May, while traders maintained their expectations the central bank will cut rates later this year. Minutes of the Fed’s March meeting published Wednesday showed policymakers scaled back expectations for rate hikes this year after a series of bank collapses roiled markets. On the economic front in Asia, Australian employers added 53,000 jobs in March from the prior month, more than double economists’ forecasts, to help drive the Australian dollar higher. China said exports jumped almost 15% in March from a year ago in dollar terms, compared with estimates for a decline. The yen swung to a loss after strengthening earlier on haven demand when news broke that North Korea launched a suspected ballistic missile toward waters off Japan’s east coast. oil slipped, but still traded near the highest close since November on signs of a tighter global market. Gold rose for a third day. US After Hours Pretty quiet after hours; SPWH -16.1% falls on earnings, CEO retirement; BABA -2.5% lower on FT report SoftBank looking to sell down most of its BABA stake.
Nikkei +0,23% Hang Seng -0,50% CSI -0,60% Shanghai -0,20% Shenzen -0,71%
Eur$ 1,0986 CNH 6,8798 CNY 6,8745 JPY 133,27 GBP 1,2486 CHF 0,8972 RUB 82,2674 TRY 19,3216 WTI$ 82,95 Gold 2,016 BTC 30,107 +0,40% ETH 1,918 +0,50%
S&P +0,06% Nasdaq +0,11% EuroStoxx +0,14% FTSE -0,11% Dax -0,11% SMI +0,04%
Macro :
- Fed’s Daly Says More Hikes May Not Be Needed to Slow Inflation
- Fed Stresses Vigilance on Credit as Rate Views Scaled Back
- ECB Has Completed Most of Its Rate-Hiking Journey, Villeroy Says
- Novogratz Says ‘Clearest Trades’ Are Long Gold, Euro, Bitcoin
- Qatar, Bahrain Agree to Restore Diplomatic Ties, QNA Reports
Keep an eye on :
- BABA US : SoftBank Moves to Sell Down Most of Its Alibaba Stake: FT
- BABA US : *ALIBABA SINKS 5.2% IN HK AFTER SOFTBANK STAKE SALE REPORT
- AAPL US : Apple Triples India iPhone Output to $7 Billion in China Shift
- ASML NA : US Is Buying Chipmaking Machines From Taiwan More Than Ever
- DBK GY : EU Banks' €1 Trillion TLTRO Repayment Heralds Tighter Credit
- ENEL IM : Italy Nominates Cattaneo at Enel as Meloni Shakes Up State Firms
- RF FP : Eurazeo Holder Rhone Plan to Sell Shares
- FAGR BB : Fagron 1Q Revenue EU181.4M Vs. EU156.4M Y/y
- FAST NA : Fastned 1Q Revenue Related to Charging EU13.3M
- FER SM : Billionaire Brothers Face Off on Ferrovial Exit in Dynasty Split
- JUVE IM : Juventus Says It Correctly Applied Accounting Standards
- GIVN SW : Givaudan 1Q Sales Misses Estimates
- FII FP : Lisi Appoints Jean-Philippe Kohler as Chairman
- MC FP : LVMH 1Q Fashion & Leather Goods Organic Sales Beats Estimates
- MC FP : LVMH to Buy Platinum Invest Group; No Terms: WWD
- NDX1 GY : Nordex Group 1Q Order Intake Declined to 1.0 GW From Prior Year
- OBEL BB : Orange Says It Has No Plans for a Tender Offer on Orange Belgium
- ORA FP : Orange Says It Has No Plans for a Tender Offer on Orange Belgium
- ENR GY : US Can Lead Energy Transition With IRA, Siemens Energy CEO Says
- STLA US : Chinese Battery Supplier to Stellantis Plans Five Europe Plants
- TGS NO : TGS Prelim 1Q Net Revenue $229M
- TTE FP : TotalEnergies ENEOS in Solar Project with Bedmutha Industries
- UBSG SW : Swiss Watchdog Learned SEC-Credit Suisse Probe Details in March
- UCG IM : EU Banks' €1 Trillion TLTRO Repayment Heralds Tighter Credit
- VACN SW : VAT 1Q Net Sales CHF232.7M Vs. CHF263.0M Y/y
- VLTSA FP : Voltalia to Invest $800 Million in Brazil With Focus on Solar
- VNA GY : Vonovia, LEG German-Housing Pipeline Cuts Likely Tip of Iceberg
- ZEAL DC : Zealand Pharma Is Said to Tap Centerview for Partnership Deals