Shares in Asia climbed after another record high on Wall Street fueled by technology shares. Oil dropped as concerns eased about Israel attacking Iranian energy facilities. MSCI’s Asia Pacific Index rose as much as 0.7% on the back of gains in the chip sector. Taiwan Semiconductor Manufacturing Co. and Tokyo Electron Ltd. were two of the biggest contributors to the benchmark’s advance. Japan’s Nikkei 225 Stock Average Index climbed back up to reach the highest levels since July. Benchmarks in Australia and Taiwan also advanced. Oil dropped after the Washington Post reported that Israel doesn’t plan on striking Iranian oil or nuclear facilities. Shares in China and Hong Kong slid, with investors on the watch for further stimulus from the Chinese government. Equity benchmarks in the country had risen on Monday even after a highly anticipated Finance Ministry weekend briefing lacked specific new incentives to boost consumption in the world’s biggest crude importer. China may raise 6 trillion yuan ($846 billion) from ultra-long special government bonds over three years as part of its efforts to boost the sputtering economy, Chinese media outlet Caixin reported. Still, there are more signs of economic weakness as a report Monday showed export growth in September unexpectedly climbed just 2.4% in dollar terms from a year earlier to the lowest level since May. A gauge of US-listed Chinese shares fell more than 2% overnight. “The fundamentals need to see this tailwind from policy to kick the economy going again,” said Steve Brice, Standard Chartered Wealth Solutions Group CIO, on Bloomberg Television. Meanwhile, in a show of hot demand for Japan’s biggest listing in six years, Tokyo Metro Co.’s initial public offering has raised ¥348.6 billion ($2.3 billion) after the company priced shares at the top of the marketed range, people familiar with the matter said. Markets are also anticipating Hong Kong leader John Lee’s annual speech on Wednesday, when he is expected to make bolstering the economy a priority and lay out an agenda that includes a potential cut to a liquor tax and possible measures to strengthen the city’s status as a finance center. With earnings reports poised to drive US sentiment this week, the S&P 500 gained almost 1% on Monday, notching another record — its 46th this year. That’s a hint investors are not deterred by the reduced forecasts for third-quarter results and are instead betting on positive surprises. The Nasdaq 100 added 0.8%. Nvidia Corp. led gains in megacaps, Apple Inc. gained on a bullish analyst call and Tesla Inc. rebounded after last week’s plunge. Goldman Sachs Group Inc. and Citigroup Inc. advanced ahead of results. Japanese stocks were among the biggest gainers Tuesday. Treasury yields slightly ticked lower on Tuesday after cash trading was closed for a US holiday on Monday. The yen was higher versus the dollar, though remained not far from 150, a key psychological level. In the US, earnings season unofficially kicked off on Friday, led by financial bellwethers JPMorgan Chase & Co. and Wells Fargo & Co. On top of other big banks reporting this week, traders will be paying close attention to results from key companies like Netflix Inc. and JB Hunt Transport Services Inc. An initial round of third-quarter financial results last week showed Corporate America is benefitting from lower rates early into the Federal Reserve’s easing cycle, according to Bank of America Corp. strategists including Ohsung Kwon and Savita Subramanian. US After Hours PHX +6.1% moving higher on M&A news; COTY -6.2% slides on underwhelming prelim Q1 numbers.
Nikkei +0.94% Hang Seng -2.27% CSI -1.36% Shanghai -1.31% Shenzen -0.48%
Eur$ 1.0892 CNH 7.1266 CNY 7.1158 JPY 149.75 GBP 1.3048 CHF 0.8635 RUB 95.6562 TRY 34.2710 WTI$ 71.58 -3.05% Gold 2,643 -0.20% BTC 65,594 -0.47% ETH 2,615 -0.22%
S&P +0.04% Nasdaq -0.02% EuroStoxx +0.22% FTSE +0.23% Dax +0.25% SMI +0.39%
Macro :
- China’s Stimulus Policies Need to Counteract Dollar Strength
- Chinese Cyber Agency Rejects US Hacking Claims in New Report
Keep an eye on :
Keep an eye on :
- ABN NA : *DUTCH GOVT SEEKS TO CUT STAKE IN ABN AMRO TO ~30% FROM 40.5%
- ALFEN NA : Alfen Sees Limited Revenue Growth, Aims to Cut Up to 15% Staff
- ALV GY : Allianz Considers Revisions to Income Insurance Transaction
- AMD US : US Weighs Capping Nvidia, AMD AI Chip Sales to Some Countries
- BA US : US Labor Official Su Meets Boeing, Union as Strike Drags On
- BOSN SW : Bossard to Buy Ferdinand Gross Group; No Deal Terms
- COTY US : Coty Shares Slip After Trimming Prelim Sales Growth Guidance
- DOCM SW : DocMorris AG 9M Revenue CHF795.8M
- DLAR LN : Crane NXT Close to Takeover of De La Rue’s Banknote Unit: Sky
- DBK GY : Deutsche Bank Holder Offering About 16m Shares Via Goldman, PRICED AT EU16.01/SHARE: TERMS
- ERICB SS : Ericsson 3Q Adjusted Ebit Beats Estimates
- FAST NA : Fastned Active Customers 474,122
- 9749 JP : Fuji Soft Says It Will Carefully Consider Bain Capital Offer
- INGA NA : ING Appoints New Heads of Wholesale Banking for EMEA, APAC
- INPST NA : InPost Buys Remaining Stake in UK Menzies for GBP60.4m
- ISP IM : Intesa Faces Investigation After Employee Breached Clients’ Data
- ISP IM : Intesa Faces Investigation After Employee Breached Clients’ Data
- MSFT US : Microsoft Settles Gamers’ Antitrust Lawsuit Over $69B Activision Blizzard Buy
- EGP PL : Mota-Engil Issues €80m Worth of Bonds, Euronext Says
- MOWI NO : Mowi Prelim 3Q Ebit About EU173M, Est. EU179.2M
- NVDA US : US Weighs Capping Nvidia, AMD AI Chip Sales to Some Countries
- OKLO US : Oklo Shares Jump Amid Google Nuclear Plans
- SAN FP : CD&R Said to Plan Measures to Ease French Worries on Sanofi Deal
- SPHR US : Sphere Rises on Plan to Build Second Venue in Abu Dhabi
- STERV FH : Stora Enso Delayed Supplier Payments in June, September
- SUN SW : Sulzer Backlog CHF2.4B
- XPEV US : Xpeng’s New Model Pre-Sale Price Is a Positive Surprise: MS