Asian stocks advanced across the board, led by gains in Japan after the S&P 500 Index hit another record and as Chinese consumption showed signs of improvement. The Nikkei 225 Stock Average rose as much as 1.9%, inching closer to its historic peak reached in 1989. Tech firms led the gains after US semiconductor equipment manufacturer Applied Materials Inc. gave a bullish revenue forecast. An index tracking Hong Kong-listed Chinese companies jumped 2%, putting a gauge of regional equities on course for their best weekly gains this year. The S&P 500 climbed to around 5,030 led by banks and energy companies. Contracts for US shares in Asia were mixed. The gains in Hong Kong came as a resurgence in travel over China’s Lunar New Year holiday offered some signs of a consumer spending pickup as the world’s second-largest economy struggles with low confidence and deflation. Mainland Chinese markets remain closed Friday. Elsewhere in Asia, Malaysia’s economy grew at a slightly slower pace than initially estimated with GDP climbing 3.7%, compared to an advance estimate of 3.8%. Treasury yields edged higher in Asia after retreating Thursday, with Fed swaps fully pricing in a rate cut in June. Benchmark bond yields in Australia and New Zealand climbed, while the dollar strengthened against its major peers including the yen. Despite the broad gains in the US, the mood on Wall Street remained slightly cautious ahead of an inflation reading that will help define the Federal Reserve’s next steps in its bid to start pivoting to monetary easing. Atlanta Fed President Raphael Bostic said in a speech on Thursday that there’s no rush to cut interest rate with the US labor market and economy still strong. A drop in retail sales helped soothe investors’ nerves about overheated consumer demand — especially after all the jitters caused by a strong inflation print earlier this week. For months, investors have been dealing with clashing economic narratives. Progress toward lower inflation has shaped the view that the Fed can cut interest rates from multiyear highs to avoid pushing the US into a recession. At the same time, the economy has outperformed expectations, giving the central bank cover to delay. Next up is Friday’s producer price index — which wouldn’t normally get as much attention from markets as the CPI — but will be highly scrutinized this time around. A seemingly tireless rally in US equities can persist as long as excess liquidity has traders comfortable buying, according to Lisa Shalett at Morgan Stanley Wealth Management. However, she expects liquidity to dry up later this year. In commodities, oil held near the highest close in three months as a risk-on mood in wider markets and signs OPEC+ members are complying with supply cuts overshadowed a gloomy demand outlook from the IEA. Gold was steady after gaining in the previous session. US After Hours TTD +19.2%, AMAT +12.9%, COIN +12.4%, TXRH +8% higher on earnings; BE -14%, ROKU -13.7%, TRUP -10.1%, YELP -9.1%, DASH -8.7% lower on earnings.
Nikkei +1.14% Hang Seng +2.49% CSI Closed Shanghai Closed Shenzen Closed
Eur$ 1.0760 CNH 7.2174 CNY 7.1936 JPY 150.24 GBP 1.2581 CHF 0.8811 RUB 92.4363 TRY 90.8121 WTI$ 78.07 +0.05% Gold 2,004 +0.01% BTC 52,060 +1.35% ETH 2,845 +1.75%
S&P -0.04% Nasdaq +0.14% EuroStoxx +0.52% FTSE +0.66% Dax +0.35% SMI +0.15%
Macro :
- Israel, Hezbollah Strikes Intensify as Fears Grow of New Front
- EU to Hold Key Vote on Gig Workers Amid Industry Opposition
Keep an eye on :
Keep an eye on :
- ALMA FH : Alma Media 4Q Adjusted Operating Profit Beats Estimates
- AMZN US : Bezos Unloads Another $2 Billion of Amazon Stock in Latest Sale
- AAPL US : Apple Readies AI Tool to Rival Microsoft’s GitHub Copilot
- ASM NA : Applied Materials Doubling 2025 GAA Sales Bolsters ASMI: React
- ASPO FH : Aspo 4Q Loss per Share Misses Estimates
- AUTO NO : Autostore Holder TH Lee Partners Offers 180m Shares: Terms
- BARC LN : Brookfield, CVC Weigh Bids for Barclays Merchant Payments Unit
- BBVA SM : BBVA Announces Redemption of €1b Cocos on March 29
- BNP FP : BNP-Backed Quant Nets 25% on Time-Tested Diversification Bets
- BP/ LN : Sonangol Picks BP for Gasoline, Diesel Import Contracts
- CO FP : French Grocer Casino Files for Chapter 15 Bankruptcy Protection
- CGM FP : Cegedim SA: Cegedim: Acquisition of Visiodent Group
- COV GY : Covivio Sees 2024 Adj. EPRA Profit About EU440M, Est. EU407.1M
- DKNG US : Draftkings to Buy Jackpocket
- DKSH SW : DKSH FY Operating Profit Misses Estimates
- EDF FP : EDF Maintains 2024, 2025, 2026 French Nuclear Output Forecast
- ENI IM : Eni Oks Third Tranche in Place of 2023 Dividend of €0.24/Share
- ENI IM : Eni 4Q Adjusted Net Income Meets Estimates
- ENX FP : Euronext 4Q Adjusted Ebitda Beats Estimates
- ETL FP : Eutelsat 1H Adjusted Ebitda Misses Estimates
- GEHC US : GE Healthcare Offering of 13M Shares Prices at $82.25/Share
- KCT LN : Kin and Carta Shareholders Vote in Favor of Valtech Offer
- MAU FP : Maurel & Prom Says Gabon Exercises Pre-Emptive Right on Assala
- NKE US : Nike Says It Will Cut About 2% of Its Total Workforce
- NAS NO : Norwegian Air 2024 Ebit Forecast Beats Estimates
- QTCOM FH : QT Group 4Q Operating Profit Beats Estimates
- SAN FP : Sanofi’s Dupixent Gets Approval in Japan for CSU Treatment
- ENR GY : Siemens Gamesa to Deliver EU1.8b Offshore Turbines to Polenergia
- SIKA SW : Sika Sees 2024 Sales in Local Currencies +6% to +9%
- SMCI US : Super Micro Computer’s Rally to $1,000 Fuels Call Buying
- SREN SW : Swiss Re FY Net Income Meets Estimates
- TKTT FP : Tarkett FY Adjusted Ebitda EU287.8M
- TE FP : TechnipFMC awarded a substantial contract by Shell plc (SHEL) for the first integrated Engineering, Procurement, Construction, and Installation project to use high-pressure subsea production systems rated up to 20,000 psi
- TEMN SW : Temenos Sheds $2 Billion as Hindenburg Finds Latest Short Target
- TEMN SW : Temenos Sheds $2 Billion as Hindenburg Finds Latest Short Target
- UMI BB : Umicore 2H Adjusted Ebit Misses Estimates
- UNI IM : Unipol FY Direct Insurance Income EU15.06B, to Merge UnipolSai
- VOW GY : VW’s Scout EV Brand Seeks Cheap Battery in Push to Go Mainstream
- VOW GY : Volkswagen in Pact to Supply EV Components, Cells to Mahindra
- WWI NO : Wilh. Wilhelmsen Reports 4Q EBITDA $33m, Down 2%