Asian stocks rose following their worst sell-off in two weeks after US equities rebounded as investors weigh the prospect of large interest rate hikes by the Federal Reserve. The dollar was little changed. Benchmarks in Japan and Australia climbed. Shares advanced in Hong Kong as Chinese developers rallied amid reports of increased efforts by officials to arrest a housing slump. US futures climbed after the S&P 500 closed in the green thanks to dip buyers late in the session. Traders remain focused on US economic data, with a decline in producer prices there providing some relief after the jolt from consumer-price figures saw wagers for rate increases ratchet higher. Retail sales due Thursday and University of Michigan readings Friday will be parsed for clues on the strength of the economy and inflation expectations. Swaps traders are pricing in a hike of three-quarters of a percentage point when the Fed meets next week, with some wagers appearing for a full-point move. Swaps traders are pricing in a hike of three-quarters of a percentage point when the Fed meets next week, with some wagers appearing for a full-point move. Asian currencies remain at risk from a strong greenback. The yen held around 143 per dollar, having rallied from just under the closely-watched 145 level Wednesday on signs the Bank of Japan was preparing an intervention. The offshore yuan was close to the 7 level versus the dollar after the central bank drained liquidity from the banking system for a second straight month while leaving rates unchanged as it sought to ease pressure on the currency. Crude oil fluctuated amid optimism for demand with China easing Covid restrictions in the megacity of Chengdu. Natural gas futures surged the most among major US-traded commodities as hot weather forecasts and a looming rail strike added to concern about tight supplies ahead of winter. US After Hours Quiet session after-hours; DHR +4.6% on plans to spin off its EAS segment as a separate publicly traded co; ARNC -8.3% on guidance; PYPL -1% on CFO taking a leave of absence.
Nikkei +0.18% Hang Seng +0.14% CSI -1.17% Shanghai -1.47% Shenzen -2.62%
Eur$ 0.9972 CNH 6.9742 CNY 6.9665 JPY 143.40 GBP 1.1528 CHF 0.9630 RUB 59.9437 TRY 18.2573 WTI$ 88.50 +0.02% Gold 1,692.30 -0.30% BTC 20,030+0.40% ETH 1,596.72 -0.38%
S&P -0.02% Nasdaq -0.09% EuroStoxx -0.06% FTSE +0.35% Dax +0.01% SMI-0.32%
Macro :
- Europe Prepares Blackout Plans to Head Off Winter Energy Chaos
- ECB’s Holzmann Says Inflation Set to Accelerate Even More
- Putin’s War Machine May Be Secret Weapon Helping Prop Up Economy
- Dalio Warns Stocks May Fall as Rubenstein Says Buy: Daybreak
- Billionaire Patagonia Founder Gives Firm Away for Climate Fight
- Sweden Premier Andersson to Resign After Losing Election
Keep an eye on :
- AB FP : AB Science to Continue Phase 2 Study Evaluating Masitinib
- ABIO FP : KKR Holds 92.19% of Albioma After Closing of Tender Offer
- AF FP : Air France to Raise Salaries by 5% as Inflation Accelerates
- AMUN FP : Caceis Will Buy 33.33% of Amundi’s Fund Channel
- ATL IM : Atlantia May Sell Its 14.5% Stake in Hochtief: MF
- 22UA GY : BioNTech Rises as Pfizer Flu Study Offers Validation Opportunity
- ALCAR FP : Carmat Expects to Resume Heart Implants in October
- DIS US : Disney Considers Merging Hulu, Disney+ Streaming Services
- EDF FP : France to Cap Price-Hikes in Push to Ease Crisis: Energy Update
- ELIS FP : Elis: Launch of an offering of OCEANE due 22 September 2029
- EL FP : EssilorLuxottica Sees Revenue at EU27b-EU28b in 2026
- EL FP : EssilorLuxottica Focuses on Smart Glasses as Metaverse Booms
- HMB SS : H&M 3Q Sales Misses Estimates
- HLAG GY : Hapag-Lloyd Buys Minority Stake in Italy-Based Spinelli Group
- HOT GY : Atlantia May Sell Its 14.5% Stake in Hochtief: MF
- INTER NA : CSC and Intertrust Get Regulatory Clearance in Ireland
- MWTR NO : Meltwater Reports Review of Options, Reiterates 3Q, FY Guidance
- MRNA US : Moderna Stock Jumps on Report It’s Open to Supplying China Shots
- NOVN SW : Novartis: Regulator Starts Investigation Into Dermatology Patent
- POXEL FP : Poxel Treatment Granted Orphan Drug Status by FDA
- PUB FP : Publicis Groupe ‘Renews Mandates’ of CEO & CFO for Four Years
- ROTH FP : Rothschild & Co. Names Marc-Olivier Laurent as Spvy Board Chair
- STLA IM : Stellantis May Make Its Own Energy as Europe Braces for ‘Chaos’
- SWMA SS : Hedge Funds Swoop In on Swedish Match, Piling Pressure on PMI
- TEF SM : Virgin Media O2 Offers Pay Rise to About 8,000 Staff, CWU Says
- TKA GY ; Thyssenkrupp, CPSC Settle Suit Over Residential Elevators
- TTE FP : TotalEnergies Seeks 2GW Offshore Wind Project in Poland: PAP
- VIG AV : Hartwig LöGer Proposed as CEO of Vienna Insurance Group
- VIMIAN SS : Vimian Offering of 51.7m Shares Prices at SEK29/Share