Asian stocks pared losses following the worst Wall Street session since 1987, as U.S. futures pushed higher. Still, most benchmarks remained in the red, with investors spooked that emergency fiscal and monetary packages won’t be enough to stave off a recession.
S&P 500 contracts reversed losses of as much as 3% and climbed over 2%, while futures in the U.K. saw gains. Losses in Japan and South Korea eased, and Australian stocks rose. Global equities are still heading for their worst week since 2008 as investors price in a severely weaker outlook due to the impact of the coronavirus pandemic. The U.S. benchmark lost 9.5% on Thursday.
Treasury yields fluctuated, while bonds in Australia and Japan declined, as investors rushed to raise cash. The won and rupiah sank while India’s rupee fell to a record low versus the dollar. Oil pushed higher.
Nikkei -6.08% Hang Seng -2.79% CSI -1.41% Shanghai -1.23% Shenzen -1.08%
Eur$ 1.1180 CNH 6.9999 CNY 6.9882 JPY 105.77 1.2572 CHF 0.9446 RUB 73.1871 TRY 6.2929 WTI $ 3.49
S&P +4% eUROsTOXX +2.25% dAX+1.77% smi +2.67%
Macro :
- OECD’s Boone Says Global Outlook Much More Pessimistic: HB
- Pictet Says Equities to Rally In Short-Term, Trims Cash Holdings
Keep an eye on :
- AF FP : Air France KLM: Examining Network Capacity Adjustments
- AF FP : Air France-KLM: Has Drawn Down EU1.1B Revolving Credit Facility
- BANB SW : Bachem Full Year Dividend Per Share CHF3 Vs. CHF2.75 Y/y
- BAYN GY : Brazil Antitrust Regulator Investigates Bayer, Monsanto
- BLUE FP : Bollore Seeks to Withdraw Blue Solutions From Trading
- EDF FP : Vattenfall Sells U.K. Unit iSupply Energy to EDF
- ENX FP : Parts of Oslo Stock Exchange Building Closed Due to Coronavirus
- FCA IM : Fiat Lets Office Workers Go Remote But Keeps Factories Running
- FRA GY : Fraport Full Year Ebitda Meets Estimates
- G IM : Generali Full-Year Profit Boosted by Disposals, Asset Growth
- HMB SS : H&M Closed All Its 181 Stores in Italy
- HSBA LN : HSBC to Reopen Nine Service Outlets in H.K.; 16 Remain Closed
- IMPN SW : Implenia Wins German Order Worth Around EU52 Million
- KESKOB FH : Kesko Oyj Feb. Comparable Sales +8.4%
- LI FP : Klepierre Says Mall Visits in Italy Drop 30% on Coronavirus
- LHA GY : Lufthansa Group to Continue Serving Chicago, Newark and DC
- LUPE SS : Lundin Petroleum Has No Plans to Cut Dividend Amid Oil Drop: DI
- MMT FP : Groupe M6: Opening up Bedrock’s Capital for RTL to Take 50%
- NOKIA FH : France to Allow Some Huawei Equipment in 5G Network: Reuters
- NDX1 GY : Nordex Group Gets Contract for 48 MW Wind Farm in Sweden
- ROG SW : Roche Gets Clearance for Coronavirus Test That’s 10 Times Faster
- SHBA SS : Danish Bank Facility Won’t Have Large Effect: Handelsbanken
- TOD IM : Tod's Full Year Dividend Per Share EU0.60 Vs. EU1 Y/y
- UBXN SW : u-blox Full Year Revenue Meets Estimates
- UCB BB : UCB’s Arise Study Misses Statistical Significance for Endpoints
- VOW GY : VW’s Lamborghini Shuts Italian Factory Amid Coronavirus Outbreak
- WDI GY : Wirecard Says No Need So Far to Correct 2016-2018 Statements
- WLN FP : Worldline to Join CAC 40 Index, TechnipFMC to Exit: Euronext