Asian stocks declined Friday after a slew of Federal Reserve officials signaled they will combat inflation aggressively and the Nasdaq 100 fell to its lowest level since October. Equities tumbled across the region, with indexes in Japan and Korea down more than 1%. U.S. futures fluctuated after American stocks tumbled Thursday, led by technology companies, which are seen as most sensitive to higher rates. Treasury yields rose, while Japan’s five-year yields climbed to their highest level since 2016. In addition, earnings may come into play: the valuation gap between Big Tech and the rest of the market is likely to narrow as the pace of earnings-per-share growth remains below that of the S&P 500 into the fourth quarter. In Asia, the Bank of Korea raised interest rates on Friday for the third time since the summer. The rare back-to-back hike likely indicates that Governor Lee Ju-yeol had become increasingly uncomfortable about waiting to move again, following recent signs that the Fed will probably raise borrowing costs earlier and more aggressively. Oil headed for a fourth weekly advance, the longest streak since October, amid signs the market is tightening.
US After Hours SAM -7.9% falls on lowered guidance; SAP +3% and PRO +1.3% higher on upside guidance
Nikkei -1.28% Hang Seng -0.39% CSI -0.82% Shanghai -0.96% Shenzen +0.02%
Eur$ 1.1480 CNH 6.3546 CNY 6.3542 JPY 113.72 GBP 1.3733 CHF 0.9098 RUB 76.1213 TRY 13.5347 WTI$ 81.94 -0.22% Gold 1,827.81 +0.29% BTC 42,890 +.12% ETH 3300 +0.25%
S&P +0.24% Nasdaq +0.31% EuroStoxx -0.85% FTSE -0.39% Dax -0.57% SMI -0.47%
Macro :
- *CHINA DEC. TRADE BALANCE 604.7B YUAN; EST. 453.7B YUAN
- Strategist Forecasts for Germany’s DAX in 2022 ( Average 16,850 implied 5.2%)
- Strategist Forecasts for U.K’s FTSE 100 Index in 2022 ( Average 7623 implied3.2%)
Keep an eye on :
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- AIR FP : Helicopter Operations May Be Grounded By New 5G Towers: Group
- AF FP : Air France Says KLM CEO Elbers Won’t Seek Third Term
- BME LN : B&M European Holder SSA Investments Offers About 40m Shares
- BBVA SM : BBVA Shifts $573 Million of Credit Risk to Swedish, Dutch Funds
- CAST SS : Castellum Says Ylva Sarby Westman to Leave as Deputy CEO & CFO
- DWS GY : DWS Prelim 4Q Adjusted Pretax Profit Beats Estimates
- EDF FP : EDF Cuts 2022 Nuclear Output Estimate on Outage Extensions
- EDF FP : EDF Withdraws 2022 Net Financial Debt/Ebitda Guidance
- EDF FP : EDF Finds Corrosion Cracks at its Penly-1 Nuclear Reactor: AFP
- RF FP : Eurazeo Buys Majority Stake in Ikaros Solar
- F US : Ford at $100 Billion Joins Rare Club With Market Cap Below Sales
- G IM : Generali Vice Chairman Resigns, Criticizes Board Procedures
- GSK LN : Glaxo, Lilly Medicines Get WHO’s Endorsement to Treat Covid
- GSF NO : Grieg Seafood Prelim 4Q Harvest About 23,700 Metric Tons
- NOD NO : Nordic Semiconductor Prelim 4Q Revenue Beats Estimates
- PGHN SW : Partners Group Assets Under Management $127B
- PAH3 GY : Porsche to Invest Over EU1b in Sustainable Energy Sources: HB
- SAP GY : SAP's Early 4Q Results Bode Well for Cloud Providers: React
- SAP GY : SAP Announces Up to EUR 1 Billion Share Buyback Program
- SLBEN PL : Benfica SAD Says Investor Textor Aims to Buy 16% Stake
- SOON SW : Sonova Holding to Buy Alpaca Audiology for $310 Million in Cash
- TM17 LN : TEAM17 to Buy Astragon for Up to EU100m; Starts Placing
- UMG NA : Pimco, BMG to Partner to Buy Music Catalogues: FT
- WCH GY : Wacker Chemie Prelim FY Ebitda About EU1.5B, Est. EU1.41B
- WDI GY : Prosecutors File First Charges in Wirecard Case: FT
- WDI GY : Wirecard Administrator Seeks EU140m Damages From Ex-Managers: SZ