Chinese shares dropped, weighing on broader Asian equities, after disappointing retail-sales data showed the world’s second-biggest economy is still struggling to recover. MSCI’s Asian equity gauge fell for a second day, with benchmarks also slipping in Australia and Japan. Materials and consumer discretionary stocks led regional declines, while a gauge of Asian currencies slid to a two-week low. US equity futures edged up as traders positioned for a Federal Reserve policy decision on Friday. Bitcoin climbed to a fresh record. While China’s retail sales increased 3% from a year ago, that fell short of forecasts of 5% growth by economists surveyed by Bloomberg. The nation’s stocks had already slumped on Friday amid disappointment after Beijing pledged to boost consumption but failed to offer details on fiscal stimulus. The retail-sales data “is a reflection of the dire situation there and how the stimulus efforts have prioritized optics over delivering meaningful economic improvements,” said Charu Chanana, chief investment strategist at Saxo Markets in Singapore. “Even for a tactical recovery, we need more after a series of false starts and the risk of tariffs ahead.” Korean stocks swung to a loss after opening higher following the impeachment of President Yoon Suk Yeol on Saturday. The nation’s Constitutional Court has started reviewing the case, while investigators reportedly plan to question him this week over his shock martial law declaration. “The rapid impeachment vote removes near-term uncertainty and could provide short-term relief to sentiment,” Kathleen Oh, an economist at Morgan Stanley, wrote in a note to clients. If events proceed swiftly toward fresh elections “we see limited impact on the real economy although downside risk remains if uncertainty persists longer than the previous cases of two-to-three months,” she said. The negative tone in Asian markets came as investors readied themselves for the final full week of trading this year with a series of central bank meetings including the Fed, Bank of Japan and Bank of England. Traders may begin to take profit on this year’s almost 20% rally in global stocks. Bloomberg’s dollar index snapped a six-day gain, while Treasuries ticked higher as traders positioned before the Fed’s rate decision on Wednesday. Swaps traders are now pricing in around three quarter-point rate cuts over the next 12 months. A week ago they had seen better than 50/50 odds of a fourth one. Attention will soon shift to the European session after Moody’s Ratings cut France’s credit grade to Aa3 from Aa2. German Chancellor Olaf Scholz also faces a confidence vote on Monday that may trigger snap elections as it faces a declining economy and a narrowing growth potential. French and German bond futures declined. Bitcoin rose more than 3% at one point on Monday in Asia to a record $106,493, exceeding its previous peak from Dec. 5. The advance helped to boost sentiment in the wider crypto market. In commodities, oil was little changed after a weekly advance as the US signaled tighter sanctions on Russian crude and Chinese authorities vowed to shore up the nation’s economy. Gold was little changed.
Nikkei -0.03% Hang Seng -1.08% CSI -0.73% Shanghai -0.38% Shenzen -1.28%
Eur$ 1.0514 CNH 7.2864 CNY 7.2799 JPY 153.68 GBP 1.2634 CHF 0.8910 RUB 104.5786 TRY 34.9598 WTI$ 70.86 -0.60% Gold 2,54 +0.22% BTC 105,020 +2.12% ETH 3,950 +2.50%
S&P +0.05% Nasdaq +0.04% EuroStoxx -0.06% FTSE -0.09% Dax +0.05% SMI -0.05%
Macro :
- Blue Whale Cuts Stakes in Tech Giants Over AI Costs, FT Reports
- French Credit Rating Cut on Crisis That Imperils Finances
- Annual Changes to the Nasdaq-100 Index® (added : Palantir Technologies Inc. (Nasdaq: PLTR), MicroStrategy Incorporated (Nasdaq: MSTR), and Axon Enterprise, Inc. (Nasdaq: AXON).
- Annual Changes to the Nasdaq-100 Index® (added : Palantir Technologies Inc. (Nasdaq: PLTR), MicroStrategy Incorporated (Nasdaq: MSTR), and Axon Enterprise, Inc. (Nasdaq: AXON).
- UAE official says new Syria leaders' Islamist ties 'worrying'
- US Sends Attack Aircraft for Display at Vietnam Defense Expo
Keep an eye on :
Keep an eye on :
- A2A IM : A2A Extends Ascopiave Exclusive Period for Asset Sale to Dec. 24
- ABLI SS : Pharming Reports Public Cash Offer to the Holders of Abliva AB
- ALV GY : Allianz Is Said to Be Close to Dropping Income Insurance Deal
- AOX GY : Alstria Office Says Brookfield Squeeze-Out to Be at EU5.11/Share
- BSLN SW : Basilea, Innoviva Enter Pact for Antibiotic Zevtera in the US
- BAVA DC : Bavarian Nordic Agrees Mpox Vaccine Deal With Serum in India
- BA US : Lesha Bank Buys Five Boeing 777-300ER Aircraft
- BPM IM : UniCredit Files Offer Document With Consob for Banco BPM Shares
- CPRI US : Capri Gains on Report It’s Exploring Sale of Versace, Jimmy Choo
- DELL US : Michael Dell Spent 40 Years Preparing for an AI Boom No One Expected - WSJ
- DBK GY : Deutsche Bank Says ECB Sets Pillar 2 Requirement at 2.9%
- DWNI GY :Vonovia SE and Deutsche Wohnen SE agree on conclusion of domination and profit and loss transfer agreement and on the
- ENT LN : Entain Acknowledges AUSTRAC Started Civil Penalty Proceedings
- FER SM : Spain’s Ferrovial Doubles Stock Buyback Program to €600 Million
- GET FP : Getlink Finds Second Fault on UK-France Interconnector
- DEC FP : JCDecaux, JOJ Won’t Pursue Merger of OOH Activities in Slovakia
- DEC FP : JCDecaux, JOJ Won’t Pursue Merger of OOH Activities in Slovakia
- MBG GY : Nissan Halves Car Output From Mexican JV With Mercedes: Nikkei
- NHH SM : Minor Hotels to Consider Delisting Tender Offer of EUR6.37/Share
- MSTR US : Saylor’s MicroStrategy Scores Again With Nasdaq 100 Addition (3)
- 5401 JP : Nippon Steel’s Plan B Now in Focus as $14 Billion US Deal Stalls
- NOVN SW : Novartis, pCPA Reach Deal for Public Reimbursement of Pluvicto
- NOVOB DC ;Novo Nordisk Invests $1.2 Billion in New Factory in Denmark
- NPAPER SS : Strategic Value Partners Extends Nordic Paper Acceptance Period
- ORX SS : Orexo Resolves Zubsolv US Patent Litigation With Sun Pharma
- P911 GY : Porsche Holding Warns of Up to €20 Billion Volkswagen Impairment
- PHARM NA : Pharming Reports Cash Offer to Abliva Holders; Value is $66.1m
- P911 GY : Porsche SE Withdraws Year Forecast
- RFLTC IM : RedFish’s Polieco MPB Buys Unit of Picenum Plast; No Terms
- RFLTC IM : RedFish’s Polieco MPB Buys Unit of Picenum Plast; No Terms
- ROG SW: Roche’s Vabysmo Prefilled Syringe Approved by Swiss Authority
- ROCKB DC : Rockwool CEO Plans to Speed Up Factory Investments, JP Reports
- STLA IM : Italy’s Meloni Ready to Work With Stellantis if Jobs Are Kept
- TSLA US : Musk’s xAI to Roll Out New Free Version of Grok-2 to All X Users
- UCG IM : UniCredit Closes Geneva Office in Swiss Exit, Le Temps Says
- VON GY : Vonovia SE and Deutsche Wohnen SE agree on conclusion of domination and profit and loss transfer agreement and on the
- VOW GY : Porsche Holding Warns of Up to €20 Billion Volkswagen Impairment
- VOW GY : Volkswagen’s Conflict With Labor Risks Dragging On Next Year
- WAWI NO : Wallenius Wilhelmsen Sees FY Adjusted Ebitda Rising Up to 6%