Asian stocks rose, recouping their losses from last week’s rout, bolstered by an advance in Japanese shares. Japan’s equities gained after a holiday, as a weaker yen was seen providing support for exporters. MSCI’s Asia-Pacific gauge rose as much as 1%. That erased losses from last week’s tumble, when a risk-off move sent indexes around the world plummeting and the VIX US volatility index above 65 at one point, compared with a lifetime average of around 19.5. Stocks in Hong Kong and mainland China fluctuated, as sentiment remains bearish after share transactions in China shrank to their lowest level in over four years. US equity futures ticked higher ahead of inflation data later Tuesday and Wednesday. Treasuries held Monday’s gains. Oil remained near the $80 level it hit on Monday, as the US sees an Iranian attack against Israel as increasingly likely. Israel’s sovereign debt was cut by one notch by Fitch Ratings, which kept a negative outlook on the credit as continued military conflict weighs on the country’s public finances. Asia’s stock benchmark had tumbled 6.1% last Monday to mark its worst day since 2008 as fears of a worsening US economy, an extended selloff in Japanese equities and a rotation away from tech shares weighed on the market. Both the Nikkei 225 and the Topix are down more than 8% since the end of July, when the Bank of Japan raised its benchmark interest rate and unveiled plans to reduce its bond purchases. The benchmarks slid into a bear market on Aug. 5, when losses exceeded 20%. The rate hike had spurred yen gains before the central bank commented that it won’t tighten so quickly as to risk further market volatility. Investors globally unwound carry trades, in which they had funded purchases of assets from stocks to emerging market bonds with the currency. After last week’s turmoil, markets will be focused on Wednesday’s US consumer price index to see if the Fed will have a freer or more constrained hand in refocusing on the labor market and front-loading rate cuts sufficiently to secure a soft landing, according to Krishna Guha at Evercore. Elsewhere in Asia, regulators told commercial banks in China’s Jiangxi province not to settle their purchases of government bonds, taking some of the most extreme measures yet to cool a market rally that has alarmed Beijing. At least four Chinese brokerages have started fresh measures to cut back trading of domestic debt beginning last week, people familiar with the matter said. The crackdown is beginning to take a toll on corporate debt markets, as the average yield for one-year corporate yuan bonds with AA ratings — typically considered junk debt in the onshore market — saw the largest jump since December 2022. In the corporate world, shares of baby-products retailer Brainbees Solutions Ltd. jumped on their debut in Mumbai, the latest deal to boost India’s burgeoning market for new share sales. US After Hours PACS +9.5% and RUM +4.2% jump on earnings; SYRS -70.3% plummets on clinical trial update.
Nikkei +3.07% Hang Seng +0.04% CSI -0.17% Shanghai -0.14% Shenzen -0.15%
Eur$ 1.094 CNH 7.1790 CNY 7.1793 JPY 147.63 GBP 1.2779 CHF 0.8671 RUB 90.9375 TRY 33.5065 WTI$ 79.67 -0.50% Gold 2,460 -0.53% BTC 59,222 +0.62% ETH 2,660 -0.78%
S&P +0.20% Nasdaq +0.34% EuroStoxx +0.36% FTSE +0.30% Dax +0.27% SMI +0.00%
Macro :
- Boaz Weinstein’s BlackRock-Targeted Fund Jumped 22% This Year
- US, Israel View an Attack by Iran as ‘Increasingly Likely’
- US, Israel View an Attack by Iran as ‘Increasingly Likely’
- Stocks Halt Rebound as Oil Hits $80 on War Angst: Markets Wrap
Keep an eye on :
Keep an eye on :
- MT NA : Shell’s green play: Interest heats up for Sprng Energy assets, with ArcelorMittal, CPPIB, among contenders
- BSLN SW : Basilea Boosts FY Operating Income Forecast
- BELL SW : Bell 1H Ebitda CHF151.6M Vs. CHF147.9M Y/y
- GBF GY : Bilfinger 2Q Adjusted Ebita EU70M Vs. EU43M Y/y
- BNR GY : Brenntag Sees FY Oper Ebita EU1.10B to EU1.20B, Est. EU1.19B
- ENI IM : Vedomosti: Eni has begun supplying oil from Kazakhstan via Druzhba
- ENT LN : Entain BetMGM Cash-Out Looks Less Appealing for Equity Value
- ALESK FP : Esker Says It’s in Talks With Bridgepoint on a Potential Offer
- GALD SW : Galderma Gets FDA Approval for Nemluvio Skin Drug
- HFG GY : HelloFresh 2Q Adjusted Ebitda Beats Estimates
- HEN3 GY : Henkel Boosts FY Adjusted Ebit Margin Forecast
- INH GY : Indus Holding Cuts FY Ebit Forecast
- ISS DC : ISS Narrows FY Organic Revenue Forecast
- KOMN SW : Komax 1H Revenue Beats Estimates; Sees FY Revenue -20%
- MDC IM : Donaldson Closes Purchase of 49% Minority Stake in Medica S.P.A.
- MBTN SW : Meyer Burger Postpones Publication of 1H results to Sept. 16
- NOEJ GY : Norma 2Q Adjusted Ebit Meets Estimates
- NOVOB DC : Lilly Leads Peers as Pharma Sales, EPS Beats Lift 2024 Outlook
- PNDORA DC : Pandora Boosts FY Organic Revenue Forecast
- PPGN SW : PolyPeptide Group 1H Ebitda EU2.87M Vs. Loss EU19.4M Y/y
- PRY IM : Prysmian Gets $96.5m in Trade Secrets Suit Against Sterlite
- RVRC SS : RVRC Holding 4Q Net Sales Misses Estimates
- RWE GY : RWE Wins Two Sites in German Offshore Wind Auction
- RWE GY : RWE Wins Two Sites in German Offshore Wind Auction
- SANN SW : Santhera Closes Financings, Secures Funds for Break-Even Goal
- SQN SW : Swissquote FY Pretax Profit Forecast Misses Estimates
- TEG GY : TAG Immobilien 1H FFO Misses Estimates
- TECN SW : Tecan 1H Ebitda CHF67.9M Vs. CHF101M Y/y
- TWEKA NA : TKH FY Adjusted Ebita Forecast Misses Estimates
- VLA FP : Valneva 1H Net Income EU34.0M Vs. Loss EU35M Y/y
- VWS DC : Vestas Falls After Narrowing FY Revenue Forecast on Service Cost
- VOW GY : Volkswagen to Push Back Key Electric SUV to 2032: Handelsblatt
- WAC GY : Wacker Neuson 2Q Ebit EU46.9M
- WAWI INO : Wallenius Wilhelmsen 2Q Ebitda Beats Estimates