Stocks fell across Asia as oil prices extended gains ahead of a key US inflation report that may give a better guide on Federal Reserve’s policy outlook. An Asian equity gauge headed for the lowest close in almost a week, with tech firms in Japan and China leading the drop in a sign of nervousness about a potential consensus-beating US consumer price reading. The sector’s weakness prompted Hong Kong and mainland Chinese shares to swing to losses even as developers rallied on news that Country Garden Holdings Co. won creditor support to extend repayment on seven yuan bonds. US stock futures edged lower after a rout in technology companies Tuesday saw the Nasdaq 100 slide 1.1%. Apple Inc., which unveiled the iPhone 15 and other products, dropped almost 2%. West Texas Intermediate rose for a second day and Brent extended gains above $92 per barrel as production cuts by leaders of OPEC+ added to projections for the tightest supply in a decade. The advance added to concern about inflation. Treasury two-year yields, which are more sensitive to Fed policy than longer maturities, stayed firm above 5%, while their 10-year peers held at 4.28%. A US 10-year auction Tuesday drew the highest yield since 2007 as investors demand extra compensation for elevated inflation and rising debt issuance. The dollar traded in narrow ranges against its Group-of-10 peers ahead of the CPI data. The yen weakened for a second day, eroding a rally Monday following Bank of Japan Governor Kazuo Ueda’s comments on the possibility of ending negative interest rates. German bund futures slipped in Asian trading on a report that the European Central Bank expects inflation in the euro zone to remain above 3% next year. The euro was little changed. There’s been a “dramatic shift” in investors’ equity allocation, namely a rush toward the US and an exodus from emerging markets, Bank of America Corp.’s latest global fund manager survey showed. That’s had an impact on emerging-markets equity allocation, which fell to a net 9% overweight in September from 34%, the lowest reading since November 2022. In contrast, allocation to US equities rose 29 percentage points to a net 7% overweight — the first overweight reading since August last year, according to the survey. US Agfter Hours TMUS to acquire spectrum from CMCSA; RCKT +30.2% jumps on FDA news; MOR +2.2% receives FDA Fast Track designation.
Nikkei -0.07% Hang Seng -0.21% CSI -1.03% Shanghai -0.87% Shenzen -1.49%
Eur$ 1.0752 CNH 7.2851 CNY 7.2804 JPY 147.38 GBP 1.2493 CHF 0.8913 RUB 94.5140 TRY 26.9167 WTI$ 89.12 +0.32% Gold 1,911 -0.15% BTC 25,907 -0.64% ETH 1,588 -0.62%
S&P -0.16% Nasdaq -0.12% EuroStoxx -0.61% FTSE -0.42% Dax -0.62% SMI -0.54%
Macro :
- Frankfurt Is Looking to Close Gap With Zurich, Milan: ECM Watch
Keep an eye on :
- AIR FP : Airbus Inks Pact With DG Fuels For US-Based SAF Plant, Boosts Sustainability
- AIR FP : Airbus Plans to Merge Two Fighter Businesses: Reuters
- AAPL US : France Tells Apple to Halt iPhone 12 Sales, Le Parisien Says
- ARM LN : Arm Is Said to Expect to Price IPO at Top End of Range or Higher
- BSLN SW ; Basilea Holder Offers Up to 475,000 Shares: Terms
- BMW GY : BMW Backtracks From Charging Subscriptions for Heated Seats
- BP/ LN : BP Chief’s Surprise Exit Leaves Questions Over Green Strategy
- DBK GY : Deutsche Bank continued to push risky derivatives years after probe found mis-selling
- DTE GY : T-Mobile to Buy Up to $3.3 Billion of Airwaves From Comcast
- EDF FP : EDF to Supply Renewable Electricity to Plastic Omnium
- EDF FP : EDF Purchase of GE’s Nuclear Turbines Unit Is Delayed: Les Echos
- F US : Ford to Double Output of Hybrid F-150 Truck as EV Sales Slow
- FRA GY : Fraport Aug. Frankfurt Airport Passengers +12.9%
- HHFA GY : MSC Unit Offers to Buy HHLA For €16.75 per A-Share
- ITX GY : Inditex 1H Ebit Beats Estimates
- MAIRE IM : Maire to Issue Up To €200m Sustainability-Linked Bond
- MERY FP : Mercialys to Acquire Imocom Partners
- MOR GY : Morphosys Endometrial Cancer Drug Gets Fast Track Designation
- NESN SW : EU Consumer Staples Need Gloom for Underperformance to Reverse
- OR FP : EU Consumer Staples Need Gloom for Underperformance to Reverse
- POM FP : EDF to Supply Renewable Electricity to Plastic Omnium
- TMV GY : Teamviewer Cuts Scope of Manchester United Partnership
- FHZN SW : Zurich Airport Aug. Passenger Traffic +18.3%