Asian shares started the week higher while the dollar declined amid a tailwind from easing inflation expectations that has fueled January’s rally in riskier assets. A benchmark of Asian equities climbed about 0.4%, putting it on course for the highest level since June. US futures rose after stocks on Wall Street closed at the strongest level in a month on Friday and contracts for European shares advanced. Japanese markets painted a different picture with the Topix index trading lower as the yen’s rebound continued to weigh on exporters. Investors also remain on guard for another surprise from the Bank of Japan when it sets policy on Wednesday. The yen strengthened to levels last seen in May and Japan’s benchmark 10-year bond yield pushed above the top of the BOJ’s ceiling for a second day. The greenback was down against both emerging-markets and Group-of-10 currencies on bets that the Federal Reserve will slow the pace of interest-rate hikes. Australia’s dollar strengthened above 70 cents for the first time since August, a reflection of improved appetite for riskier assets. Bitcoin traded above $21,000 following a rebound over the weekend, when it surged amid optimism that it may have bottomed. The impact of surging Covid infections was also on the minds of traders, but not enough to hold back the Shanghai Shenzhen CSI 300 Index, which jumped about 2%. The World Health Organization has urged China to share more detailed information on the spread of virus after the government’s announcement of almost 60,000 related deaths in a month. The People’s Bank of China kept the rate of its one-year medium-term lending facility unchanged and added less cash than expected into the banking system before the Lunar New Year holidays. The move is likely to fuel speculation the central bank may use other channels to ensure there’s adequate liquidity. The busy week will also be punctuated by more corporate earnings, such as Wall Street heavyweights Goldman Sachs Group Inc. and Morgan Stanley. iron ore declined after China pledged to tighten supervision on pricing after the metal’s surge in recent months. Oil slid and gold rose.
Nikkei -1.13% Hang Seng -0.68% CSI +1.49% Shanghai +0.99% Shenzen +1.30%
Eur$ 1.0858 CNH 6.74100 CNY 6.7005 JPY 127.64 GBP 1.2267 CHF 0.9238 RUB 68.9983 TRY 18.7871 WTI$ 79.34 -0.65% Gold 1,921.35 +0.06% BTC 21,167 +1.25% ETH 1,573 +1.33%
S&P -0.05% Nasdaq -0.17% EuroStoxx +0.31% FTSE -0.04% Dax +0.25% SMI +0.11%
Macro :
- Germany Faces €12B Financing Gap in 2024 Budget: Handelsblatt
- Lithium’s Next Big Risk is Grand Supply Plans Falling Short
- German Industry Moves Past Worst of Energy Crunch Battle
- Hedge Funds Go Bearish on Gas for 1st Time Since Pandemic Began
- Germany’s Embattled Defense Minister Plans to Resign, Bild Says
- Switzerland Aims to Soften Restrictive Arms Export Law, NZZ Says
- Scaramucci Invests in Crypto Firm Set Up by Ex-FTX US Head
Keep an eye on :
- AIR FP : Crashed Nepal Plane’s Flight Data Recorder Found: Reuters
- BBVA SM : *BBVA CHAIRMAN SAYS BANK EXPECTS TO BOOST DIVIDEND IN 2023
- BILL SS : Siemens Energy Gains as Billerud Slips: EMEA Resources Wrap
- BA/ LN : UK Will Send Major Battle Tanks, More Artillery to Ukraine
- 1COV GY : Covestro Prelim FY Net Loss About EU300M
- CSGN SW : UBS Doesn’t Plan to Buy Credit Suisse or US Firms: Kelleher
- CSGN SW : Credit Suisse Set to Cut 10% of European Investment Bankers: FT
- ENI IM : Italy’s Gas Supply Set to Be More Secure Next Winter, Eni Says
- FRA GY : Fraport Dec. Frankfurt Airport Passengers +46.2%
- HYQ GY : Hypoport Mortgage Finance Business Stable After Sharp 2H Decline
- JNJ US : Johnson & Johnson Slashes Production of Covid-19 Shot, WSJ Says
- LAND LN : Sky News: Land Securities lines up Channel 4’s Cheshire as next chairman
- LDO IM : Crashed Nepal Plane’s Flight Data Recorder Found: Reuters
- MJH LN : MJ Hudson Expected to Announce Takeover Approaches: Sky
- MOWI NO : Mowi Prelim 4Q Ebit Beats Estimates
- ORSTED DC : Orsted Plans Major Offshore Wind Expansion in Sweden, DI Reports
- PFE US : Pfizer Bivalent Vaccine Linked to Stroke in Preliminary Data
- PROX BB : Proximus Sees 2023 Adjusted Ebitda About -3%
- RECSI NO : REC Silicon Says Moses Lake Restart Activities Progressing Well
- RNO FP : Renault Said to Be Open to Concessions to Strike Nissan Deal
- ENR GY : Germany Targets Three New Windmills a Day for Energy Reboot
- SIKA SW : Sika to Sell Concrete Assets to Ineos to Gain Antitrust Approval
- TEMN SW : Temenos Prelim 4Q Non-IFRS Ebit Misses Estimates
- TEMN SW : Temenos Seeks New CEO as Chuard Steps Down
- 700 HK : Alibaba and Tencent Could Boost Inflows for Tech ETFs in 2023
- UN01 GY : LNG TENDER: Uniper Buys Feb. Cargo to Europe at TTF Discount
- VOW GY : Ford Set to Cut Dependence on VW Electric Vehicle Tech: FT
- WBD IM : Webuild Unit Wins $218m Highway Contract in Florida