Asian shares declined and currencies fluctuated amid caution in markets as investors await highly anticipated inflation data later Thursday. Stocks fell in Japan, Hong Kong and South Korea while US futures inched up after a sixth consecutive decline for the S&P 500, which fell to the lowest level since November 2020. The dollar held on to recent gains and the yen crept back from a fresh 24-year low that has put traders on watch for intervention from Japan.
Investors are on tenterhooks as they await US consumer price figures that may determine if the Federal Reserve delivers a fourth-straight outsized hike in interest rates, piling more pressure on an already struggling world economy. Minutes released on Wednesday from the Fed’s last meeting suggested some officials considered reducing the pace of rate hikes, which triggered a brief surge on Wall Street that quickly unwound. Yen traders prepared for a spike in volatility when the CPI report lands. The currency fell 2% minutes after last month’s release. The offshore yuan inched lower. Investors speculated that Chinese authorities are employing a tactic used in 2019 to steady the currency.
The pound declined slightly in Asia after a busy day of bond buying from the Bank of England, which reiterated the view that its emergency support for the gilt market would cease on Friday, contradicting a media report that suggested it could endure. UK pensions were found offloading assets around the world to shore up liquidity ahead of the move. The Biden administration is considering adding aluminum to economic sanctions against Russia. Shares in Rusal, the Russian aluminum giant that has a listing in Hong Kong, fell sharply. Vladimir Putin said any energy infrastructure in the world is at risk after the explosions on the Nord Stream pipelines. Oil fell. US After Hours AMAT -1.1% lowering guidance is the big headline, dragging down some chip equipment peers; QDEL +7.3% higher on bullish guidance; BMRN +3.4% as FDA accepts resubmission of BLA
Nikkei -0.47% Hang Seng -1.00% CSI -0.29% Shanghai +0.16% Shenzen +0.92%
Eur$ 0.9704 CNH 7.1838 CNY 7.1828 JPY 146.79 GBP 1.1087 CHF 0.9979 RUB 65.0618 TRY 18.5669 WTI$ 87.25 -0.02% Gold 1,670 -0.20% BTC 19,080 -0.46% ETH 1,285 -1.10%
S&P -0.07% Nasdaq -0.10% EuroStoxx -0.48% FTSE -0.15% Dax -0.40% SMI -0.61%
Macro :
- What Dimon’s ‘Easy 20%’ Drop in the S&P 500 From Here Looks Like
- Boaz Weinstein Predicts Years of Market Worry: ‘We’re in a Fog’
- Lithium Stocks Sink as Morgan Stanley Flags Price Drop
- US Chip Moves Offer Opportunites for Allies, Rahm Emanuel Says
Keep an eye on :
- AIR FP : Boeing Closes Deal With Cargolux for 777X Jet Freighters
- AF FP : EU Agrees on a Temporary Waiver From Airport Slot Rules
- ASML NA : ASML Orders US Employees to Stop Servicing Customers in China
- BNP FP : BNP Paribas Polish Unit to Post Net Loss in 3Q 2022
- BRAV SS : Bravida Denmark Gets Order Worth DKK139M
- CADLR NO : Cadeler Offering of 32.9m Shares Prices at NOK31/Share
- CCL LN : Norwegian Leads Cruise Stock Rally With UBS Positive on Bookings
- ELUXB SS : Electrolux to Divest Memphis Factory for SEK930m
- ENI IM : Eni Unit Plenitude in Exclusive Talks for Plt Energia: MF
- FAGR BB : Fagron 3Q Revenue EU173.0M Vs. EU142.4M Y/y
- HMB SS : H&M to Cut Staff in Swedish Store Network, SVT Reports
- HEIT LN : Harmony Energy Income Trust Offers 15m Shares at GBp100/Share
- KSS US : Activist Investor Urges Kohl's to Replace Board Members -- WSJ
- LSEG LN : LSE Widens Some Max. Spread Requirements to 5% From Oct. 13
- PHIA NA : Philips Should Cut Dividend to Invest in Business, Investor Says
- PROXI NO : Proximar Extends Application Period for Convertible Bond Issue
- SPOT US : TikTok Parent ByteDance Plans Music-Streaming Expansion: DJ
- SZU GY : Suedzucker Boosts FY Revenue Forecast, Beats Estimates
- TEVA IT : Teva Adderall Shortage Expected to Continue Into March, FDA Says
- TRYG DC : Tryg 3Q Profit After Tax Misses Estimates (1)
- VACN SW : VAT Sees 4Q Net Sales CHF285M to CHF315M