Asian equities climbed, aided by some encouraging signs in China’s economy and a retreat in the dollar. The MSCI Asia Pacific Index rose 0.4%, its first gain this week, following data that showed China’s retail sales expanded at the strongest pace in eight months and property prices fell at a slower pace. Japanese benchmarks advanced about 0.8%, supported by weakness in the yen. US contracts slipped.
A gauge of the dollar halted a five-day gain that was helped by Federal Reserve Chair Jerome Powell’s comments that the central bank will be in no rush to cut interest rates. Friday’s action gives a welcome respite to emerging market assets after they were sold off for most of the week on US President-elect Donald Trump’s cabinet picks and uncertainties over China’s recovery. US two-year yields were little changed after surging in the previous session as traders pared back their expectations for an interest-rate cut in December. More clarity on the Fed’s path can emerge as the US releases retail sales data and a host of Fed officials are set to speak. A gauge of emerging markets equities was on pace for its worst week since June 2022, while a separate index of emerging markets currencies came close to erasing its gains for the year. Among key earnings in Asia, Alibaba Group Holding Ltd. reports later Friday after another Chinese consumption bellwether JD.com Inc posted a moderate expansion in revenue. China’s retail sales were “pretty good,” and a result of the central bank’s stimulus policy in late September, according to Jason Chan, senior investment strategist for Bank of East Asia. ““Fiscal stimulus is on the way, probably more details would be announced in December.” In commodities, oil headed for a weekly drop, weighed down by the impact of a stronger dollar and concerns the global market will flip to a glut next year. Gold held near a two-month low. Data earlier Thursday in the US showed producer prices exceeded consensus forecasts. Jobless claims were below expectations and touched the lowest level since May. Several policymakers have urged a cautious approach to further rate cuts in comments this week, in light of a strong economy, lingering inflation concerns and broad uncertainty. Their comments come at a time when the equity market is showing signs of fatigue following a post-election surge that spurred calls for a pause, with several measures highlighting “stretched” trader optimism. In the US, the S&P 500 dropped 0.6%, while the Nasdaq 100 slipped 0.7%. Automakers like Tesla Inc. and Rivian Automotive Inc. slumped as Reuters reported Trump plans to eliminate the $7,500 consumer tax credit for electric-vehicle purchases. Walt Disney Co. jumped on a profit beat. US After Hours AMAT -5.6% lower on earnings; ASTS -14.2%, GLOB -3.7% also lower; DPZ +7.3% as Berkshire Hathaway takes new position; DESP +16.3%, CWCO +5.1% higher on earnings.
Nikkei +0.28% Hang Seng +0.23% CSI -1.21% Shanghai -0.97% Shenzen -1.91%
Eur$ 1.0542 CNH 7.2441 CNY 7.2333 JPY 156.39 GBP 1.2674 CHF 0.8894 RUB 98.9494 TRY 34.3977 WTI$ 68.07 -0.92% Gold 2,566 +0.03% BTC 87,810 -0.45% ETH 3,058 -1.98%
S&P -0.50% Nasdaq -0.72% EuroStoxx -0.58% FTSE -0.42% Dax -0.46% SMI -0.64%
Macro :
- Oaktree’s Marks Sees Opportunity to Invest in China: Sohn Latest
- Oil supply to exceed demand by over 1m barrels a day in 2025
- Citigroup's Ties to Russian Oligarch Kerimov Draw Federal Scrutiny
- Citigroup's Ties to Russian Oligarch Kerimov Draw Federal Scrutiny
- Large Swath of US Faces Power Supply Risk During Extreme Cold
- Fed Refuses to Back Basel Climate Plan, Leaving Talks in Limbo
- Vaccine Stocks Fall on Report RFK Jr. to be Named HHS Secretary
- Bitcoin Speculative Fervor Cools, Traders Await Next Trump Steps
- Michael Burry Boosts China Stakes But With Cautious Hedges
Keep an eye on :
Keep an eye on :
- AGN NA : Aegon 3Q Adj. Oper Capital Generation EU336M Vs. EU354M Y/y
- AMUN FP : Amundi Buys Aixigo in Transaction Worth €149 Million
- ASTS US : AST SpaceMobile Buys Rocket Launches From Bezos’ Blue Origin
- BAVA DC : Bavarian Nordic 3Q Revenue Misses Estimates
- BESI NA : BE Semiconductor Declines to Comment on Merger Reports
- BA US : Boeing Hires Northrop Executive to Revamp Pentagon Projects -- WSJ
- BOL SS : Boliden Said to Close In on Deal to Buy Lundin’s European Mines
- BWO NO : BW Offshore Boosts FY Ebitda Forecast
- CGCBV FH : Cargotec to Sell €480 Million MacGregor Business to Triton
- CTEC LN : Convatec FY24, 25 View Unchanged Despite Local Medicare Coverage
- DSFIR NA : DSM-Firmenich Sold Stake in Robertet for Gross Amount of €115M
- DSFIR NA : DSM-Firmenich Sold Stake in Robertet for Gross Amount of €115M
- DPZ US : Buffett’s Berkshire Buys Stakes in Domino’s Pizza, Pool Corp.
- EQNR NO : Equinor Says Halt to Review Rosebank Permit Risks Years of Delay
- EGLA IM : Eurogroup Laminations Sees FY Revenue Low End of EU900M
- EVT GY : Halozyme Confirms Proposal to Combine with Evotec for €11.00 Per Share in an All-Cash Transaction
- G IM : Generali 3Q Operating Profit Beats Estimates
- GVS IM : GVS 9M Ebitda EU76.6M Vs. EU67.3M Y/y
- HALO US : Halozyme Confirms Proposal to Combine with Evotec for €11.00 Per Share in an All-Cash Transaction
- JD US : JD.com Falls in HK as 4Q Investments Raise Concerns: Street Wrap
- KINVB SS : Kinnevik Chairman James Anderson Won’t Stand for Reelection
- LAND LN : Land Sec. 1H Revenue Profit Meets Estimates
- MRL SM : Merlin Properties 9M Net Income EU225.4M
- MSFT US : Elon Musk Adds Microsoft to Suit Against OpenAI
- BMPS IM : How Italy Swayed Its Tycoons to Pile Into Master Plan for Paschi
- NEOEN FP : Neoen Wins 164 MW of Solar Projects in Latest French Tender
- NEX FP : Nexans Holder Bpifrance Offers 1.09m Shares: Terms, placed @ 115/share
- NLFSK DC : Nilfisk 3Q Revenue Misses Estimates
- NOVOB DC : US Obesity Crisis Expected to Worsen by 2050, Study Warns
- PRY IM : Prysmian to Establish €3b EMTN Program to Refinance Debt
- RENE PL : REN 9M Net Income EU84.2M Vs. EU96.2M Y/y
- RBT FP : DSM-Firmenich Sold Stake in Robertet for Gross Amount of €115M
- SDZ SW : Sandoz Gets EU Approval for Biosimilar Afqlir
- SAN FP : Sanofi’s Sarclisa Gets EU Marketing Recommendation
- SAN FP : Sanofi’s Dupixent sBLA to Get FDA Review for CSU Treatment
- SCATC NO : Defic Globe, Scatec to Build 190MWP Solar Plants in Romania
- STLN SW : Swiss Steel Group Cuts 800 Jobs, Will Further Cut 530 Positions
- TOKMAN FH : Tokmanni 3Q Comparable Ebit Beats Estimates Tokmanni Will Pay Second Dividend of €0.38 Per Share
- VK FP : Vallourec 3Q Ebitda Misses Estimates
- VLA FP : Vaccine Stocks Fall on Report RFK Jr. to be Named HHS Secretary
- VKTX US : US Obesity Crisis Expected to Worsen by 2050, Study Warns
- WBD US : Webuild Maintains FY Ebitda Forecast
- WUW GY :