Asian stocks fell to a two-month low on concerns that US President-elect Donald Trump’s proposed tariffs and picks for key administration posts may stoke inflation. Equity benchmarks in Japan, Hong Kong and Australia retreated as a regional gauge touched the weakest level since Sept. 13. The Bloomberg Dollar Spot Index edged higher ahead of a report on US consumer-price inflation, while the yen hovered near the key level of 155 per greenback. Treasury 10-year yields were little changed after surging 12 basis points on Tuesday. Traders are now pricing in about two US rate cuts through June, against almost four seen at the start of last week. US and European stock futures slipped.
Sentiment toward Asian equities has turned cautious since Trump’s election, as traders expect his planned policies to further drive up inflation and slow the pace of interest-rate cuts. The president-elect’s picks for key government posts are also fueling jitters, as he piles his Cabinet with people set to carry out his “America First” policies on the border, trade, national security and economy. The US election outcome continues to reverberate across the globe, with an MSCI gauge of equities excluding the US capping its worst day since the Aug. 5 global rout. An index of developing-market currencies has lost more than 1% following the US vote, coming close to erasing this year’s gains. Meanwhile, China indicated its discomfort with yuan weakness through its daily reference rate for the currency amid the threat of higher US tariffs under a Trump administration. The fixing was 445 pips stronger than the average estimate in a Bloomberg survey. Beijing started marketing dollar bonds in Saudi Arabia, marking the country’s first debt sale in the US currency since 2021. On the economic front, US data due Wednesday may reinforce concerns about an acceleration in inflation, with analysts predicting that the overall consumer price index probably increased 0.2% for a fourth month. Fed Minneapolis President Neel Kashkari on Tuesday said he’ll be watching the inflation data closely to determine whether another interest-rate cut is appropriate at the US central bank’s December meeting. Bitcoin declined after a chartbusting rally took the digital asset to almost $90,000 for the first time. Meanwhile, Trump said Elon Musk and Vivek Ramaswamy will lead the Department of Government Efficiency. In corporate news, Seven & i Holdings Co. is said to be considering a management buyout to take itself private with funding from banks, Itochu Corp. and the founding Ito family in a transaction that could be worth ¥9 trillion ($58 billion). In the commodities market, oil steadied near its lowest level this month, with the outlook for demand in focus after OPEC cut projections on China’s slowdown. Gold edged higher. US After Hours DAVE +32.4%, PAY +26%, CAVA +16.2%, ICUI +6.7%, SPOT +6.4% higher on earnings; RIVN +8.2% to launch JV with VW; HNRG +17.7% on deal with data center developer.
Nikkei -1.66% Hang Seng -0.55% CSI +0.59% Shanghai +0.46% Shenzen +0.03%
Eur$ 1.0602 CNH 7.2346 CNY 7.2242 JPY 155.14 GBP 1.2736 CHF 0.8832 RUB 98.0285 TRY 34.3817 WTI$ 68.33 +0.31% Gold 2,604 +0.25% BTC 86,820 -1.70% ETH 3,150 -4%
S&P -0.23% Nasdaq -0.30% EuroStoxx -0.51% FTSE +0.15% Dax -0.20% SMI -0.28%
Macro :
- Trump’s Mass-Deportation Plan to Hurt Farming, Co-Op Chief Says
- Bitcoin Rally Cools After More Than 30% Jump Since Trump Victory
Keep an eye on :
Keep an eye on :
- ABN NA : ABN Amro 3Q Net Interest Income Beats Estimates, ABN Amro Says Potential Room for Buyback Postponed to 2Q 2025
- ACS SM : ACS 9M Net Income EU605M Vs. EU576M Y/y
- AIR FP : Airbus Nears Deal on Funding, Payment Terms W/ Spirit Aero: Rtrs
- AIR FP : Boeing, Airbus Throw Supplier Lifeline Ahead of Takeover (2)
- ALV GY : Allianz 3Q Operating Profit Beats Estimates
- AAPL US : Apple Readies Smart Home Push With AI-Focused Wall Tablet Device
- TATT GA : Attica Bank Agrees Sale of NPE Portfolios to Davidson Kempner
- AG1 GY : AUTO1 Boosts FY Adjusted Ebitda Forecast, Beats Estimates
- BDT GY : Bertrandt Prelim 4Q Revenue About EU265M
- BNP FP : BNP Cuts 10% of China Dealmaker Jobs After 2022 Expansion
- BBVA SM : Spanish Watchdog Opens In-Depth Probe for BBVA’s Sabadell Bid
- Cox ABG IPO : Spain’s Cox ABG to Extend IPO Book-Building Period to Nov. 13
- PBB GY : Deutsche PBB 9M Pretax Profit EU87M Vs. EU91M Y/y
- DISH US : DirecTV Plans to Cancel Dish Deal Unless Debt Swap Resolved (1)
- EVO SS : Galaxy Gaming® Stockholders Approve Acquisition by Evolution
- FNAC FP : Fnac Darty and Ruby Secure 91.15% of Share Capital of Unieuro
- FRA GY : Fraport Oct. Frankfurt Airport Passengers 5.7M
- IMCD NA : IMCD Raises €300M at €141.50/Shr Through Accelerated Bookbuild
- ITP FP : Interparfums Inc 2025 EPS Forecast Misses Estimates
- TKWY NA : US Startup Buys Just Eat Takeaway’s Grubhub for $650 Million
- KOG NO : Kongsberg Gets US Navy Missile Contract Valued at NOK10 Billion
- HLUNB DC : Lundbeck 3Q Net Income Beats Estimates
- EMG LN : Man Group Planning Job Cuts as It Reviews Budget, Talent Needs
- NEX FP : Nexans Sees 2028 Adjusted Ebitda EU1.15B
- 7201 JP : Nissan Enters New Era of Turmoil as Effissimo Takes Stake
- Nordic Bioscience : Nordic Bioscience Hires Banks for Possible IPO, Borsen Says
- PKTM AV : Pierer Mobility in Talks to Secure KTM’s Liquidity Requirements
- R3NK GY : Renk 3Q Sales €268M, Up 10.5% Y/Y; Confirms Forecast
- RWE GY : RWE Plans 1.5 Billion-Euro Share Buyback After Elliott Pressure
- SAN FP : Sanofi Treatment Granted Orphan Drug Status by FDA
- STG DC : Scandinavian Tobacco 3Q Sales Meets Estimates
- STG DC : Scandinavian Tobacco 3Q Sales Meets Estimates
- SDRL US : Seadrill Boosts FY Adjusted Ebitda Forecast
- 3382 JP : Seven & I Is Said to Consider $58 Billion Management Buyout
- ENR GY : Siemens Energy Raises Mid-Term Targets for FY 2028
- SAVE US : Spirit Airlines Shares Drop on Report of Bankruptcy Preparations
- SWON SW : SoftwareONE Maintains FY Revenue Goal, Plans More Cost Savings (1)
- SAX GY : Stroeer 3Q Adjusted Ebitda Misses Estimates
- TEG GY : TAG Immobilien Sees FY FFO High End of EU170M to EU174M
- TEG GY : TAG Immobilien to Resume Dividend Payments After Two Years
- UBSG SW : US Probes Russia Accounts UBS Took Over From Credit Suisse: Rtrs
- UNIR IM : Fnac Darty and Ruby Secure 91.15% of Share Capital of Unieuro
- DG FP : Vinci Wins Waste Plant Contract Worth Over €100M From Veolia
- VKTX US : Viking Therapeutics Phase 2B NASH/MASH Study Meets Endpoints
- VOE AV : Voestalpine 2Q Ebitda Misses Est., No Europe Rebound Visible
- VOS GY : Vossloh Offers Up to 1.76m New Shares In Private Placement, Vossloh Offering of 1.76m Shares Prices at EU41/Share
- VOW GY : Volkswagen Boosts Bet on Rivian’s EV Tech by $800 Million
- YIT FH : YIT Sets New Strategy, Financial Targets for 2025-2029
- YPSN SW : Ypsomed 1H Ebit Misses Estimates