Asian stocks traded mixed and the dollar fell as investors digested hawkish signals from central banks that sparked a rout in European and US equities. Shares in Hong Kong and mainland China swung between gains and losses, while US futures contracts turned flat. A broader benchmark of Asian shares was still down for Friday and was set to end six weeks of winning streak. The acute threat of US delisting eased for about 200 companies in China and Hong Kong, and that combined with the Chinese government’s pledge to implement new measures for the property sector supported market sentiment earlier. The dollar weakened versus its Group-of-10 counterparts after a gauge of its strength climbed the most since September on Thursday. The South Korean won and Taiwanese dollar led declines among currencies in the region. Yields for US Treasuries rose slightly. Central banks eased back from the larger hikes seen for much of this year but revised up their expectations for how high rates may need to go. Fed Chair Jerome Powell and ECB President Christine Lagarde hammered home their resolve to remain persistent as they battle inflation. That didn’t sit well with investors hoping for a dovish shift in tone. Short-dated German yields surged to the highest since 2008 and European stocks sank the most since May after Lagarde said that “anybody who thinks that this is a pivot for the ECB is wrong.” Traders were also digesting poor US retail sales and manufacturing data, even as the labor market remained strong. Softening in the labor market remains a big target for the Fed. oil headed for the biggest weekly gain since early October on signs of tightening supply and the prospect for improved Chinese demand, despite downward pressure from interest-rate hikes. Gold, on the other hand, was set for a weekly decline. US After Hours ADBE +5%, X +2.6% higher on earnings/guidance; EXAS +24.5% as data from rival GH seen as a positive for EXAS; GH -39.4% falls on clinical data
Nikkei -1.87% Hang Seng +0.51% CSI -0.22% Shanghai -0.24% Shenzen -0.91%
Eur$ 1.0644 CNH 6.9816 CNY 6.9741 JPY 137.33 GBP 1.2207 CHF 0.9270 RUB 64.4087 TRY 18.6450 WTI$ 75.74 -0.54% Gold 1,779.50 +0.16% BTC 17,395 -0.03% ETH 1,269 +0.40%
S&P +0.10% Nasdaq +0.10% EuroStoxx +0.36% FTSE +0.44% Dax +0.29% SMI
Macro :
- Quants Face $30 Billion in Forced Selling as Stock Charts Buckle
- *CHINA'S NEW STATE-RUN IRON ORE GIANT PREPARES TO START BUYING
Keep an eye on :
Keep an eye on :
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