Asian stocks rallied as cooling US inflation strengthened the view that the Federal Reserve’s monetary tightening cycle is nearing an end. The dollar and Treasury yields extended declines. An Asian share gauge headed for the highest close in more than three weeks, supported by gains in Hong Kong, Australia and Japan. Sony Group Corp. climbed more than 5% in Tokyo after Goldman Sachs Group Inc. upgraded its recommendation to buy from neutral. US stock futures rose. Technology stocks in Hong Kong rallied for a fourth day after Chinese Premier Li Qiang met with senior executives from the country’s leading technology firms on Wednesday. The news added to optimism the government is ending its crackdown on the industry amid a weakening economy. A gauge of the dollar added to Wednesday’s 0.9% drop to fall to the lowest in over a year. The yen was little changed after surging 1.3% versus the dollar the previous day. Emerging market currencies rallied, with the South Korean won leading the gains. The yuan is steady, after data showed that China’s exports fell for a second straight month in June. With imports also down, the weak trade data may reinforce calls for more policy support for the economy. Some top money managers said the greenback is poised for further losses as US exceptionalism wanes. Treasury yields extended declines in Asian hours. The yield on two-year Treasuries, which is more sensitive to imminent policy moves, dropped around four basis points to 4.71% after sliding 13 basis points Wednesday on the inflation data. The inflation data propelled the S&P 500 to its highest close since April 2022. The tech-heavy Nasdaq 100 outperformed, jumping 1.2%. oil ticked higher on optimism that the Fed’s rate hike cycle is nearing an end. Gold was little changed. US After Hours Quiet after hours; CYRX -24.5% lower on weak guidance; MLKN -3.6% lower on earnings; VSAT -20.9% falls on satellite mishap.
Nikkei +1.46% Hang Seng +2.49% CSI +1.26% Shanghai +1.03% Shenzen +1.15%
Eur$ 1.114 CNH 7.1750 CNY 7.1702 JPY 138.63 GBP 1.3006 CHF 0.8659 RUB 90.4576 TRY 26.1329 WTI$ 75.96 +0.28% Gold 1,957 +0.01% BTC 30,307 -0.15% ETH 1,866 -0.36%
S&P +0.22% Nasdaq +0.35% EuroStoxx -0.04% FTSE +0.03% Dax -0.05% SMI +0.09%
Macro :
- Novogratz Sees Bitcoin Rising, Says ETFs Likely to Be Approved
- Whistleblower Awarded $9 Million After SEC Enforcement Action
- Bitcoin Caution Grows as Jump in Global Markets Bypasses Crypto
- Argentina’s Wheat Area Cut Even as Rains Improve Crop Conditions
Keep an eye on :
Keep an eye on :
- AKSO NO : Aker Solutions Sees FY Revenue +30%, Saw Above +15%
- BARN SW : Barry Callebaut 9M Sales CHF6.29B
- BAS GY : BASF Cuts FY Adjusted Ebit Forecast, Misses Estimates
- CARM FP : Carmila to Acquire Galimmo for €294 Million in All-Cash Deal (1)
- CO FP : Casino Prelim 2Q France Retail Sales EU3.32B
- CO FP : Casino Bidders Work to Charm Creditors, Firm With Better Terms
- CON GY : Continental's 2Q Ebit Margin Miss Likely a Timing Issue: React
- DIS US : Disney Extends Robert Iger’s Contract as CEO Through 2026
- ENEL IM : Enel to Sell 50% of Green Power Australia at ~€400M Ent. Value
- ENEL IM : Enel Group to Sell PV Portfolio in Chile to Sonnedix for $550m
- EPR NO : Europris 2Q Net Income Beats Estimates
- FIE GY : Fielmann Prelim 1H Ebitda +21%, Confirms FY Outlook
- IMAX UD : Imax Offers to Take Over Publicly Traded Chinese Subsidiary
- BAER SW : Julius Baer in Talks With Suitors Over Sale of Kairos: Sole
- NDX1 GY : Nordex Group Achieves Order Intake of 1.6 GW in 2Q
- NVDA US : AI Drug Discovery Firm Surges After Nvidia Investment
- PPGN SW : PolyPeptide Sees Improved 2H Ebitda, Plans to Update FY Outlook
- RNO FP : Renault’s Mobilize Financial Services Buys MeinAuto; No Terms
- ROG SW : Roche’s Ocrevus 10-Min Injection Met Main Goal of Phase 3 Trial
- ROG SW : Roche’s Ocrevus 10-Min Injection Met Main Goal of Phase 3 Trial
- SIE GY : Scholz Embraces Siemens in Bid to Stem Exodus of German Money
- SW FP : Co-op Group Set to Pick Ex-Interserve Chief White as Chair: Sky
- SOW GY : Silver Lake Secures 71% of Software AG Shares as Deadline Nears
- SZU GY : Suedzucker Maintains FY Revenue Forecast, Beats Estimates
- UHR SW : Swatch 1H Operating Profit Beats Estimates
- TTE FP : TotalEnergies Wins Leases for Two Offshore Wind Farms in Germany
- TYMN LN : Tyman to Buy Lawrence Industries for $57m
- UBSG SW : Techem Owners Work With Goldman, Morgan Stanley and UBS on Sale
- VAR NO : Var Energi Prelim 2Q Avg Production 202,000 BOE/D
- VASN SW : VAT Prelim 1H Net Sales Beats Estimates
- VPLAYB SS : Viaplay Group Withdraws 2023 Outlook Amid Weaker Nordic Ops
- VSAT US : ViaSat Drops After Reporting Unexpected Event on Satellite
- VOW GY : CEOs Urge EU to Clear Red Tape Bogging Down Bloc’s Green Shift