Asian equities fell Friday as a lack of details from a Chinese economic conference disappointed some traders and risk appetite weakened ahead of next week’s Federal Reserve meeting. A gauge of Asian stocks is headed for the worst week in nearly a month, with Japanese and Australian shares falling after selling on Wall Street Thursday. The S&P 500 ended 0.5% down as traders weighed higher-than-expected jobless claims against too-hot producer price data. Shares in China and Hong Kong slipped following a readout from China’s Central Economic Work Conference that lacked policy details of a fiscal stimulus even as authorities vowed to boost consumption. But their vow to cut policy rates as well as banks’ reserve ratios sent the Chinese 10-year government bonds to slide below 1.8% for the first time in history. Investors now must wait until March for more clarity. An index of dollar strength was little changed, largely holding on to gains from the previous five sessions. The stronger dollar was helped along by higher Treasury yields. Australian and New Zealand yields rose Friday. In Japan, confidence among large firms remained upbeat, broadly in line with the Bank of Japan’s view ahead of a policy meeting next week that’s dividing analyst opinions over whether a rate hike is coming. South Korea’s equity benchmark climbed, briefly recovering from all the losses triggered by President Yoon Suk Yeol’s failed bid to impose martial law. More than eight members from South Korea’s ruling People Power Party support Yoon’s impeachment motion, Munhwa Ilbo newspaper reported Friday. The won was little changed. Shares of data center operator DigiCo Infrastructure REIT slumped as much as 10% in their A$2 billion ($1.3 billion) debut in Sydney on Friday, with market watchers citing valuation concerns. In India, government data showed India’s inflation cooled last month, bringing some relief to the newly-appointed central bank chief. Elsewhere in Asia, data set for release Friday includes industrial production in Japan and gross international reserves for Thailand. Money supply data for China may be released any time through Dec. 15. The European Central Bank trimmed borrowing costs by 25 basis points as expected and indicated it may deliver further cuts in its upcoming meetings. The Swiss National Bank delivered a 50 basis point cut, more than anticipated. US economic data released Thursday offered a muddy outlook on the health of the economy. Weekly jobless claims rose more than expected, while producer price readings were mixed. US wholesale inflation accelerated in November due to a surge in egg prices. The data did little to shift expectations for a US rate cut next week. Swaps market pricing reflects around a 95% level of confidence the central bank will reduce borrowing costs by 25 basis points at the December meeting. In commodities, oil headed for a weekly advance as the prospect for tighter US sanctions against Iran and Russia countered persistent concerns around a sizable global glut next year. Gold rose, paring a drop of 1.4% Thursday, the biggest drop in two weeks. Bitcoin traded around $100,000. US After Hours RH +18.2%, AVGO +11.3% sharply higher on earnings; COST -0.5% a bit lower on earnings; EVGO +13% jumps after closing on US Dept of Energy loan facility.
Nikkei -0.95% Hang Seng -1.82% CSI -2.31% Shanghai -1.94% Shenzen -1.86%
Eur$ 1.0462 CNH 7.2863 CNY 7.2778 JPY 152.85 GBP 1.2659 CHF 0.8927 RUB 105.0000 TRY 34.9424 WTI$ 70.05 +0.04% Gold 2,688 +0.29% BTC 99,891 +0.29% ETH 3,908 +1.09%
S&P +0.11% Nasdaq +0.40% EuroStoxx -0.20% FTSE -0.23% Dax -0.06% SMI -0.03%
Macro :
- Oil Price Bulls Need More Than OPEC+ Cuts: Macro View
- Lutnick’s Cantor Pays SEC $6.75 Million for Alleged SPAC Abuses
- South Korean Stocks Briefly Erase Losses From Martial Law Fiasco
Keep an eye on :
Keep an eye on :
- ALB SM : Spain’s March Family Seeks to Delist Corporacion Financiera Alba
- ALAMG FP : France’s AMF Fines 7 Total of €4.15M Over Market Manipulation
- BA US : Boeing to Spend $1 Billion to Expand 787 Dreamliner Complex
- BA US : Boeing Delays Mean Trump Won't Fly on a New Air Force One -- WSJ
- BCP PL : BCP Says Pillar 2 Requirement From Jan. 2025 Is 2.25%
- AVGO US : Broadcom Gains as Results Show Strong AI Growth: Street Wrap
- AVGO US : Broadcom Gains as Results Show Strong AI Growth: Street Wrap
- CRAYN NO : SoftwareOne in Advanced Talks to Buy Norway’s Crayon Group
- DLAR LN : De La Rue in talks over near-GBP100 million deal to sell stake
- ENX FP : Euronext Makes No Changes to CAC 40 Index in Quarterly Review
- FER SM : Ferrovial to Book EU2.5b Gain on Sale of Heathrow Stake
- GOOGL US : Google Challenger Perplexity Promises Booming Growth, Rosy Margins
- GRF SM : Grifols’ Annus Horribilis Has Analysts and Short Sellers Divided
- HDLY NO : Huddly Offers NOK130m of Shares at NOK0.10/Share in Placement
- IBE SM : Iberdrola Sells Stake in Offshore Wind Farm for About EU150m
- INTC US : Intel’s Crash or Comeback? Foundry Breakup Key to Survival
- INTC US : Intel’s Crash or Comeback? Foundry Breakup Key to Survival
- KOMN SW : Komax Nominates Andreas Häberli as New Chairman
- MB IM : Mediobanca Says CET1 Requirement at 9.03% for ‘25 After SREP
- MUV2 GY : Munich Re Sees 2025 Profit EU6B
- OUT1V FH : Outokumpu Sees 4Q Adj. Ebitda Close to Break-Even or Negative
- ROG SW : Roche’s Vabysmo Prefilled Syringe Approved in EU
- SAN FP : Sanofi’s Tolebrutinib Designated Breakthrough Therapy by FDA
- SKAB SS : Skanska Gets US Contract Worth About SEK3.5b
- SWON SW : SoftwareOne in Advanced Talks to Buy Norway’s Crayon Group
- SUBC NO : Subsea 7 Wins Contract in US Gulf of Mexico with Value $50-150m
- SREN SW : Swiss Re Sees 2025 Net Income Above $4.4B
- TAP PL : Carlos Tavares Won’t Rule Out Becoming TAP Shareholder: Expresso
- TTG LN : TT Electronics Confident in Medium-Term Financial Framework