Asian shares rose as traders trimmed bets on Federal Reserve interest-rate hikes following cooler-than-expected US inflation data, while the artificial intelligence trade gathered fresh momentum. Oil gained. MSCI’s Asia Pacific equities gauge climbed 2.3% — set for the biggest advance in a month — with technology shares among the best performers. South Korea’s Kospi jumped 8.2%, regaining the top spot as the world’s best-performing major stock benchmark this year. SK Hynix Inc. shares rose 13% after its American depositary receipts surged 27%. Equity-index futures pointed to gains in Europe and the US, extending the rally from Asia. Treasuries steadied after a rally sent yields sharply lower Tuesday as traders unwound bets that the Fed would begin raising rates as soon as this month. Sovereign debt gained in Japan and Australia. A sense of caution, however, lingered as oil climbed for a third day after President Donald Trump threatened further strikes on Iran. Earlier, the US resumed its blockade on the Islamic Republic’s shipping through the Strait of Hormuz. Global benchmark Brent advanced 1% to $85.55 a barrel after surging 11% in the previous two sessions. Tuesday’s weak US inflation numbers and a strong start to the earnings season have revived the AI trade, boosting technology stocks after a recent bout of volatility. While the data gives the Fed more room to keep rates on hold, escalating tensions in the Middle East continue to cloud the inflation outlook by threatening higher energy prices. Attention in Asia was once again focused on the chips sector after a volatile session on Tuesday. As sentiment improved, SK Hynix’s US-listed shares soared, pushing the premium of its ADRs over the Seoul-listed stock above 50% just three days after their trading debut. An Asian benchmark of semiconductor shares added 3.5% on Wednesday. Volatility “has died down and we’re seeing some repurchasing in the chip sector,” said Kazuhiro Sasaki, head of research at Phillip Securities Japan. “But rather than a full-blown return to tech, we’re seeing sector rotation continue — banks are attractive, especially after strong earnings in the US.” In other corners of the market, the dollar weakened against most of its Group-of-10 peers. Gold, which typically benefits when rates aren’t increased, gave up some of Tuesday’s gains and edged 0.6% lower to about $4,030 an ounce. Shares in mainland China were little changed after retail sales unexpectedly grew 1% after a 0.6% drop in May. Industrial production beat forecasts to rise 5.3%. The surveyed urban jobless rate eased to 5% from 5.1% in May. Even so, the country’s GDP growth slowed. In oil, traders are paying close attention to refined products. Fuel markets in the US and Europe are flashing record tightness as tensions flare up in the Middle East, threatening more pain for consumers already strained with high prices at the pump. Also, Russia is struggling to deliver all of the crude it’s being forced to ship overseas in the face of escalating Ukrainian drone strikes on its refineries. “The continuing conflict in the Middle East remains the main constraint on a broader improvement in risk sentiment,” said Rajeev De Mello, global macro portfolio manager at GAMA Asset Management. Elsewhere, in testimony before US lawmakers, Fed Chairman Kevin Warsh said central bank officials have no tolerance for high inflation, reiterating a vow to tame price growth. Warsh said the June inflation reading was better than expected, but has a long way to go. US After Hours PNR -14.6% sharply reduces guidance; AEHR +28.6%, SHMD +14.2% higher on earnings/guidance; LION +8.7% higher on Reuters report that co is considering buyout; KRMN +5.7% to join S&P SmallCap 600.
Nikkei +1.12% Hang Seng +1.51% CSI +0.47% Kospi +6.99% Shanghai +0.08% Shenzen +0.04%
Eur$ 1.1438 CNH 6.7694 CNY 6.7689 JPY 162.20 GBP 1.3403 CHF 0.8091 RUB 77.4539 TRY 47.0308 WTI$ 79.86 +0.61% Gold 4,031 -0.72% BTC 64,764 +0.39% ETH 1,877 +0.18%
S&P +0.20% Nasdaq +0.68% EuroStoxx +0.08% FTSE -0.33% Dax -0.35% SMI -0.07%
Macro :
- China’s GDP Growth Unexpectedly Dips Below Official Target Range
- China Party Mouthpiece Warns Against ‘Iron Curtain’ in World AI
- China Party Mouthpiece Warns Against ‘Iron Curtain’ in World AI
- Japan Mulls Lifting Ban on US Potato Imports, Nikkei Says
- *AI POWER DEMAND SWELLS TOP US GRID COSTS BY 60%, WATCHDOG SAYS
- Largest US Grid Misses Power Supply Target Amid AI Surge
- Ukraine to Buy Drone Parts From China Using EU Defense Loan: FT
- Handful of Vessels Crossing Hormuz as US Blockade Takes Effect
Keep an eye on :
Keep an eye on :
- AFRY SS : AFRY 2Q Net Sales Match Estimates
- AAF LN : Airtel Africa Hires More Bankers for Unit’s London IPO: FT
- AKRBP NO : Aker BP 2Q Revenue Beats Estimates
- ANTO LN : Antofagasta 2Q Copper Production Misses Estimates
- ASML NA : ASML 3Q Net Sales Forecast Beats Estimates, ASML Boosts FY Net Sales Forecast, Beats Estimates
- AXFP SS : Axfood 2Q Operating Profit Misses Estimates
- BAR BB : Barco 1H Ebitda Misses Estimates
- CAMX SS : Camurus 2Q Revenue Beats Estimates
- CAST SS : Castellum 2Q Revenue Beats Estimates
- CLAB SS : Cloetta 2Q Net Sales Meet Estimates
- COOR SS : Coor 2Q Ebit Meets Estimates
- 1COV GY : Covestro, BYD Set Long-Term Strategic Partnership
- CREDIA GA : CrediaBank Holder Thrivest Holding Offers Shares: Terms, Credia Bank Says Thrivest Sold 16.7% Stake in Lender
- DHER GY : Delivery Hero Confirms Advanced Takeover Talks With Uber
- CREDIA GA : CrediaBank Holder Thrivest Holding Offers Shares: Terms, Credia Bank Says Thrivest Sold 16.7% Stake in Lender
- DHER GY : Delivery Hero Confirms Advanced Takeover Talks With Uber
- DOCM SS : DocMorris Reports Prelim. 2Q External Revenue Growth of 15.2%
- ELANB SS : Elanders 2Q Sales Beat Estimates
- ELISA FH : Elisa 2Q Revenue Misses Estimates
- ELIS FP : Elis Holder CPPIB Offers About 19.3m Shares, Terms Show, Elis Offering by Holder Prices at EU24.60/Share
- ENEA SS : Enea Reports 2Q Revenue of SEK 218 Million, Compared With FactSet Estimates of SEK 219 Million (2 Est.)
- ENGI FP : Engie Brasil Said to Price Shares at BRL30.50 Each in Follow-on
- SHBA SS : Handelsbanken 2Q Net Interest Income Misses Estimates
- HTRO SS : Hexatronic 2Q Revenue Beats Estimates
- INWI SS : Inwido 2Q Net Sales Beat Estimates
- KTN GY : Kontron Gets Order Worth Nearly €100m From Railway Operator
- LION US : Lionsgate Said to Explore Sale Amid M&A Wave, Reuters Reports
- LCID US : LCID: Lucid weighs bankruptcy filing or going private, EV blog reports
- MOWI NO : Mowi 2Q Harvest Beats Estimates
- NA9 GY : Nagarro’s ‘22 Financial Report Inaccurate, German Regulator Says
- NEL NO : Nel 2Q Total Revenue NOK182M
- NETIB SS : Net Insight Reports 2Q Loss/Shr of SEK 0.09
- NDX1 GY : Nordex Orders Build, 10-12% Margin Target in View: 2Q Preview
- Open AI : OpenAI’s First Device Will Be Speaker Built as AI Companion
- PNDXB SS : Pandox 2Q Ebitda Beats Estimates
- PYPL US : Stripe, Advent Offer to Buy PayPal for $60.50/Share: Reuters
- PNR US : Pentair sharply lowers Q2 and FY26 guidance; cites a decline in Pool sales largely attributed to a more pronounced inventory realignment and worsening business conditions / -16% in After Hours
- PCG US : PG&E Says Power Shutoffs Likely Wednesday on Wildfire Risk
- PST IM : Poste Italiane Gets Bank of Italy OK for TIMFin Holding Deal
- CFR SW : Richemont 1Q Sales at Constant Exchange Rates Beat Estimates
- RIO LN : Rio Tinto Cuts FY Copper C1 Unit Cost/LB Forecast
- ROP SW : Roche to Test Brainshuttle Therapy in Bid to Prevent Alzheimer’s
- ROP SW : Roche: FDA Grants Priority Review to Gazyva/Gazyvaro
- SEBA SS : SEB 2Q Net Interest Income Beats Estimates
- SHOT SS : Scandic 2Q Net Sales Miss Estimates
- SONO US : OpenAI’s First Device Will Be Home Speaker Built as AI Companion
- STB NO : Storebrand 2Q Operating Profit Beats Estimates, Storebrand 2Q Solvency II Misses Estimates
- SVEDB SS : Svedbergs 2Q Sales Miss Estimates
- MSTR US : Strategy’s CEO Aims to Boost Preferred Shares, Buy More Bitcoin
- UBSG SW : UBS’ Aaron Nordvik Leaves Bank to Rejoin Moore Capital