Stocks in Asia gained on bets that the upcoming US consumer price report will allow the Federal Reserve to start easing in September. The New Zealand dollar slumped following a surprise rate cut by the country’s central bank. The MSCI Asia Pacific Index climbed for a fourth session, with shares in New Zealand and Taiwan jumping more than 1%. The gains came after the US producer price index rose less than forecast, helping to fuel a 1.7% rally in the S&P 500. Japanese stocks fluctuated alongside the yen. The easing of price pressures in the US has bolstered confidence that officials can start lowering borrowing costs and refocus on supporting the labor market. The revival in risk sentiment and softness in the dollar supported Asian currencies. Indonesia’s rupiah gained as much as 1% while the Singapore dollar hovered near this year’s high. Treasuries were little changed after rising across the curve in the previous session, with positioning data showing traders remain bullish. A Bloomberg gauge of the dollar steadied around a four-month low. New Zealand’s 10-year benchmark bond yields slumped as the central bank cut rates by 25 basis points. The local currency weakened 1% as the governor said a half-point reduction was considered. The earlier-than-expected start of an easing cycle by the Reserve Bank of New Zealand has the potential to reshape interest-rate dynamics in Asia, given it has typically spearheaded the region’s monetary cycle. In Japan, the Nikkei pared gains after Prime Minister Fumio Kishida said he won’t run for a second term as leader of the long-ruling Liberal Democratic Party in September. The yen steadied after earlier strengthening toward the 146-per-dollar mark. Elsewhere in Asia, Chinese stocks fell following data that showed bank loans to the real economy contracted for the first time in 19 years. Investors await earnings from Tencent Holdings Ltd. and its buyback plans. Overnight, the S&P 500 saw its biggest four-day rally this year. The Nasdaq 100 climbed 2.5%. Wall Street’s favorite volatility gauge — the VIX — tumbled to around 18. Swap traders priced in an about 40 basis-point Fed cut in September and a total rate reduction of over 105 basis points for 2024. The US producer price index for final demand increased 0.1% from a month earlier, less than the 0.2% seen in a median forecast. For the data due Wednesday, forecasters expect the consumer price index, and a “core” gauge excluding food and energy, to have both advanced 0.2% in July, according to the median estimates in a Bloomberg survey. Oil climbed in Asia trading, rebounding from losses on Tuesday, as an industry report pointed to a sizable drop in US crude stockpiles and tensions simmered in the Middle East. Gold fell. US After Hours FLUT +9.2%, MRCY +8.8%, XP +7.2%, INTA +6.1% higher on earnings; GOOG -1.1% on Bloomberg report that DOJ considers breaking up Google following court ruling.
Nikkei +0.44% Hang Seng -0.43% CSI -0.53% Shanghai -0.44% Shenzen -0.52%
Eur$ 1.0992 CNH 7.1496 CNY 7.1502 JPY 146.93 GBP 1.2861 CHF 0.8647 RUB 91.0197 TRY 33.5410 WTI$ 78.80 +0.57% Gold 2,461 -.20% BTC 61,080 +0.81% ETH 2,721 +0.80%
S&P +0.01% Nasdaq +0.05% EuroStoxx +0.47% FTSE +0.32% Dax +0.32% SMI +0.89%
Macro :
- Germany Seeks Arrest of Suspected Nord Stream Saboteur, SZ Says
- Sudan's Burhan rejects Geneva peace talks
- Goldman, JPMorgan Say Markets Pricing in Higher Recession Odds
- US Approves Possible $18.8 Military Sale to Israel
- US Approves Possible $18.8 Military Sale to Israel
- Norway’s $1.7 Trillion Fund Trims Meta, Novo and ASML Stakes
- Jain Global Lures Away BofA Commodity Trader Lee to Join Fund
- Ex-Goldman Partner Gets HK License for Millennium-Backed Fund
Keep an eye on :
Keep an eye on :
- AZN LN : AstraZeneca vaccine project in doubt as UK Treasury seeks to cut state aid
- AV/ LN : CKI-Led Consortium Buys UK Wind Farm Assets for £350m From Aviva
- BAVA DC : Bavarian Nordic Says FDA Accepted BLA for Chikungunya Vaccine
- BAVA DC : Bavarian Nordic Says FDA Accepted BLA for Chikungunya Vaccine
- BAVA DC : Bavarian Nordic Gets EU Order for Mpox Vaccine
- CARLB DC : Carlsberg Boosts FY Organic Operating Profit Forecast, Carlsberg Guidance Boost Led by Europe, Cost Curbs
- CARLB DC : Carlsberg Boosts FY Organic Operating Profit Forecast, Carlsberg Guidance Boost Led by Europe, Cost Curbs
- CTM SS : Catena Media 2Q Total Revenue EU12.8M
- CEC GY : Ceconomy 3Q Sales Beats Estimates
- DMP GY : Dermapharm 1H Adjusted Ebitda EU153.0M Vs. EU168M Y/y
- PBB GY : Deutsche PBB 1H Profit After Tax EU40M Vs. EU69M Y/y
- DFDS DC : DFDS 2Q Ebit Misses Estimates
- DOU GY : DOUGLAS Group continues strong financial and business performance in third quarter 2023/24
- ELST IT : Elbit Systems 2Q Net Income $78.4M Vs. $62.4M Y/y
- EMMN SW : Emmi 1H Ebit Meets Estimates
- EOAN GY : E.On 1H Adjusted Ebit Meets Estimates
- EOAN GY : EON Boosts Spending on Energy Transition as Europe Electrifies
- EVT GY : Evotec SE 2Q Revenue EU182.1M
- FLTR LN : Flutter Shares Rise After Revenue Beat, Year Outlook Boost
- VH2 GY : FRIEDRICH VORWERK increases EBITDA by 121% in the second quarter with sales growth of 27% and raises forecast for
- GCY GY : Grand City Properties Boosts FY FFO I Forecast
- HHFA GY : Hamburger Hafen 1H Port Logistics Ebit EU51.7M Vs. EU40.5M Y/y
- HLAG GY : Hapag-Lloyd 1H Ebit Margin 9%
- SDF GY : K+S Narrows FY Ebitda Forecast
- KESKOB FH : Kesko July Sales From Continuing Operations EU975.7M
- KESKOB FH : Kesko Buys 3 Companies to ‘Significantly’ Expand in Denmark
- K US : Mars Close to $30 Billion Deal for Snack Maker Kellanova: WSJ
- 992 HK : Lenovo May Ride AI Spending to Near-Double-Digit Growth: Preview
- MBB GY :
- MLP GY : MLP 1H Ebit EU48.7M Vs. EU37.4M Y/y
- AERO SW : Montana Aerospace 1H Adjusted Ebitda Beats Estimates
- NETC DC : Netcompany 2Q Revenue Meets Estimates
- PAT GY : Patrizia Assets Under Management EU56B
- 2382 TT : Apple Supplier’s Convertible Bond Expands Taiwanese Funding Wave
- RHM GY : Rheinmetall-Loc M&A Aimed at XM30, Common Tactical Truck
- RR/ LN : Rolls-Royce CEO Didn't Need PE to Get Rich: Chris Bryant
- RWE GY : RWE Maintains FY Adjusted Ebitda Forecast
- SWTQ SW : Schweiter 1H Ebitda CHF45.9M Vs. CHF42.9M Y/y
- SHUR BB : Shurgard Raises FY Rev. Growth Outlook
- SIP BB : Sipef 1H EPS $2.41 Vs. $3 Y/y (1)
- SIP BB : Sipef 1H Palm Oil Output 174,747 Metric Tons Vs. 185,321 Y/y
- STMN SW : Straumann 1H Ebit Beats Estimates
- STLN SW : Swiss Steel Group 1H Adjusted Ebitda Loss EU20.9M
- TLX GY : Talanx 1H Ebit EU2.52B
- TKA GY : Thyssenkrupp 3Q Adjusted Ebit EU149M Vs. EU243M Y/y, New Orders, Sales Fall on Broad Industry Slowdown
- TUI1 GY : TUI 3Q Underlying Ebit Beats Estimates
- UBSG SW : UBS Profit Beats Estimates as Client Inflows Hit $27 Billion
- VAR1 GY : US Hedge Fund Whitebox Backs New Restructuring Option for Varta
- VWS DC : Vestas 2Q Revenue Misses Estimates, Vestas 2Q Ebit Loss Before Items EU185M, Est. Profit EU64M
- VWS DC : Vestas Says Fehrman Leaves Board After Getting CEO Job at AEP
- WIE AV : Wienerberger 2Q Revenue Beats Estimates, Lowers FY Forecast
- FHZN SW : Zurich Airport July Passengers 3.11M