Shares in Asia declined as investors positioned themselves for an action-packed week, including the release of US consumer price data that may confirm the inflation battle isn’t over, dashing hopes of a Federal Reserve rate pivot. The negative sentiment reverberated across major indexes in Asia, with a regional equity benchmark headed for its lowest close in more than a month. Contracts for US stock futures slid. The S&P 500 ended last week 1.1% lower, while the tech-heavy Nasdaq 100 slipped 2.1%, the worst weekly performance this year for the two indexes. The yen weakened after whipsawing Friday following news reports that Kazuo Ueda would be picked to become the Bank of Japan’s next governor. Investors initially interpreted the decision as a potentially hawkish choice. Those gains were trimmed after Ueda spoke to reporters and said the BOJ’s stimulus should stay in place. Japan’s government is set to officially announce the nomination of the new BOJ governor on Tuesday. Investors are reassessing how high US interest rates will rise this year, with inflation and jobs data likely to still come in hot later this week. That has fueled bets for the Fed rate to peak at 5.2% in July, up from less than 5% a month ago. Philadelphia Fed President Patrick Harker was the latest central banker to unveil expectations for rates to climb above 5% after a drum-beat of commentary last week that included a prediction from Minneapolis Fed President Neel Kashkari that the level would reach 5.4%. Singapore on Monday reported 2022 economic growth at 3.6%, compared with 3.8% previously seen. The city state reaffirmed its growth forecast for this year at between 0.5% to 2.5% as authorities focus on combating stubborn core inflation and slowing demand. The Singaporean dollar slipped. Traders will also keep a keen eye on geopolitical developments after the Pentagon shot down an unidentified object that it tracked over Michigan, according to US officials familiar with the matter. This was the fourth time in eight days a balloon or high-flying craft has been shot down over the US or Canada.
oil fell as Russia’s plan to curb supply in retaliation for western sanctions was offset by concerns about slowing global growth. Gold edged lower.
Nikkei -0.95% Hang Seng -0.20% CSI +0.79% Shanghai +0.62% Shenzen +0.97%
Eur$ 1.0680 CNH 6.8392 CNY 6.8292 JPY 132.19 GBP 1.2047 CHF 0.9256 RUB 73.7059 TRY 18.8304 WTI$ 78.80 -1.17% Gold 1,860 -0.31% BTC 21,842 +0.46% ETH 1,519 +0.53%
S&P -0.33% Nasdaq -0.37% EuroStoxx +0.05% FTSE +0.13% Dax +0.07% SMI +0.16%
Macro :
- Investor Who Called Stock Rally Sees Further Gains: China Today
Macro :
- Investor Who Called Stock Rally Sees Further Gains: China Today
- Ken Griffin's Miami Pick Resonates Worldwide: MLIV Pulse
- Costa Rica Says JPMorgan, Santander to Underwrite $1.5B in Bonds
- Euro-Zone Inflation Seen Lingering Above ECB’s Target Into 2025
- Morgan Stanley’s Wilson Sees Fed Driving Stocks to Low in Spring
Keep an eye on :
Keep an eye on :
- ADYEN NA : Adyen’s Business May Accelerate in 2024, MS Says (Feb. 12)
- ALC SW : Alcon to Pay J&J $199M as Part of Eye Surgery Device Settlement
- BG AV : Bawag FY Dividend per Share Beats Estimates
- BONN SS : Bonnier Has 64% of Readly Shares, Extends Acceptance Period
- CAST SS : *CASTELLUM TO CARRY OUT RIGHTS ISSUE OF ABOUT $955M
- CSGN SW : Hedge Fund Qube to Hand Cash to Dozens of External Managers
- EKTAB SS : Elekta Buys Thai Distributor, to Establish Office in Bangkok
- ENI IM : Repsol, Eni Gas Venture Hit by Venezuelan PDVSA Idle Ship
- ENI IM : Repsol, Eni Gas Venture Hit by Venezuelan PDVSA Idle Ship
- FRA GY : Fraport Jan. Frankfurt Airport Passengers +65.5%
- FCX US : Freeport Sees 1Q Sales Outlook Missing on Indonesia Disruption
- GALP PL : Galp 4Q Adjusted Net Beats Estimates
- IMPN SW : Implenia, Demathieu Bard JV Win €331.4M Toulouse Metro Contract
- LEO GY : Leoni Prelim FY Sales Beats Estimates
- LHA GY : Unions Call Strike for ITA Airways Workers on Feb. 28
- META US : Meta May Seek Opex Cuts to Feed Capex for ChatGPT Type AI: React
- ORA FP : *FRANCE’S ORANGE IS SAID TO WEIGH OPTIONS FOR AFRICAN TOWERS
- ORP FP : Orpea 4Q Organic Revenue +5.7%
- PTEC LN : Caliplay, Playtech Engage in Mutually Agreed Resolution Process
- RATOB SS : Ratos FY Dividend per Share Misses Estimates
- RNO FP : Nissan Aims to Make Europe a Core Market for Car Sales, FT Says
- REP SM : Repsol, Eni Gas Venture Hit by Venezuelan PDVSA Idle Ship9
- ROTH FP : Chanel Owners May Invest in Rothschild & Co., Les Echos Reports
- SPM IM : Saipem Signs New Credit Lines For Overall EU860m
- SAND SS : Sandvik Manufacturing Solutions President to Leave on Aug. 11
- SAS SS : SAS Sees Equity Raise in March as Carrier Seeks Chapter 11 Exit
- TEF SM : Telefonica, Liberty Global Plan Sale of 25% of Cornerstone: Rtrs