Asia’s tech-led rally pushed equities to new highs after strong earnings from a chip bellwether eased worries about overheating in the artificial intelligence sector and encouraged investors to add bets. The MSCI Asia Pacific Index climbed 0.5% on Friday to a record and was set for a fourth weekly gain. A regional gauge of technology shares and South Korea’s benchmark index — a poster-child for the AI theme — also hit all-time highs as Taiwan Semiconductor Manufacturing Co. rose about 3% to its highest ever after blowout results. The optimism looks set to continue as futures for Nasdaq 100 Index rose 0.4%. Elsewhere, the yen gained 0.2% against the dollar after Japan’s finance minister said she’s concerned about the currency’s weakness. Oil held its biggest decline since June, while gold and silver edged lower. Stocks pushed higher as confidence in the durability of the tech rally, a key bull-market driver, strengthened following concerns over stretched valuations and heavy investment. Equities have rebounded from April lows as Federal Reserve interest-rate cuts and optimism around AI-supported earnings lifted sentiment. As Asian shares keep rising, a key relationship they have with currencies is flashing a signal for global funds to rethink their investment strategy in the region. The 30-day correlation between the MSCI Asia Pacific Index and the Bloomberg Asia Dollar Index — which typically move in lockstep — has dipped below zero for the first time since September 2024. In other corners of the market, Treasuries were little changed in Asia after falling in US trading when jobless claims unexpectedly dropped to the lowest since November. The 10-year’s yield is headed for a fifth straight week of minimal change, rivaling its longest stretch of inertia in the past two decades. The trend — a function primarily of expected stability in US monetary policy — is stoking anxiety among bond-market investors because previous instances of constricted yield ranges have been followed by selloffs. Traders will also be watching the rising tensions in the Middle East after Fox News reported that at least one US aircraft carrier is moving to the region. US military planners are preparing a range of options depending on the actions of the Iranian government in the next few days, Fox reported. Separately, the US and Taiwan agreed to a long-sought trade pact that would lower tariffs on goods from the self-governed island to 15% and see Taiwanese semiconductor companies increase financing for American operations by $500 billion. In Asia, focus is also on Japan, where central bank officials are closely watching the yen’s potential influence on inflation. Most Bank of Japan watchers judge that Governor Kazuo Ueda and his colleagues have been slow in ratcheting up interest rates, and expect the next move still to be several months away in their base case scenarios. Traders are also parsing capital flows in and out of Japan Friday as the yen inches toward the 160-per-dollar mark. Official intervention to strengthen the currency is a topic of discussion among market participants as the yen trades near a one-and-a-half-year low. The yen was a touch stronger at 158.40 against the dollar on Friday. US After Hours JBHT -3.9% lower on earnings; WS +3.2% higher on news it will acquire Kloeckner & Co; UMAC +0.4% ticks higher on drone components order.
Nikkei -0.27% Hang Seng -0.55% CSI -0.38% Shanghai -0.27% Shenzen -0.00%
Eur$ 1.1612 CNH 6.9651 CNY 6.9664 JPY 158.16 GBP 1.3390 CHF 0.8024 RUB 77.8082 TRY 43.2758 WTI$ 59.09 -0.20% Gold 4,598 -0.35% BTC 95,352 -0.30% ETH 3,296 -0.26%
S&P +0.29% Nasdaq +0.42% EuroStoxx -0.36% FTSE -0.11% Dax -0.38% SMI -0.04%
Macro :
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- Balyasny Asia Revenue Jumps 82% to Record During Expansion Drive
- Morgan Stanley Sees Overheating in China Stocks Sentiment
- Japan, Italy to Agree on Space Development Cooperation: Nikkei
- Talent Acquisitions Can Face FTC Scrutiny Under Merger Laws
- Ex-Pimco Executive Scores Milestone With Catastrophe Bond ETF
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- Philly Fed’s Paulson Says Rate Cuts Can Wait, Shows Support for Powell - WSJ
- German Minister Says New EV Subsidies a Boost for Ailing Sector
Keep an eye on :
- ABVX FP : D. E. Shaw Boosts Short Position in Abivax to 1.42%
Keep an eye on :
- ABVX FP : D. E. Shaw Boosts Short Position in Abivax to 1.42%
- AKRBP NO : Aker BP 4Q Avg Production Meets Estimates
- AA US : Citic Resources to Sell Stake in Alcoa for $247m, Resume Trading
- BA US : Boeing Reaches New Labor Deal With 1,600-Member Union in Wichita
- BWLPG NO : BW LPG Says BW Product Services Saw 4Q Gross Profit of ~$27m
- 1211 HK : BYD Shares Rally on Report of Battery Supply Talks With Ford
- CCL/B CN : Gimv Sells Majority Stake in Alt Technologies to CCL Industries
- CC US : Chemours to Sell Former Titanium Dioxide Site for $360m
- CVX US : Chevron Reaches Final Investment Decision on Leviathan Expansion
- ENI IM : Mozambique Says ENI Launches Hull for Coral Norte FLNG Project
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- RACE IM : Ferrari New Pact Allows Piero Ferrari to Sell 5% Stake: Sole
- F US : Ford in Talks to Use BYD Batteries for Overseas Factories
- GIMB BB : Gimv Sells Majority Stake in Alt Technologies to CCL Industries
- GOOGL US : The BBC to Start Making Bespoke Shows for YouTube: FT
- HSBA LN : HSBC Starts Strategic Review of Insurance Business in Singapore
- IBE SM : Vineyard Wind Sues to Challenge Trump’s Halt of Project
- INRN SW : Interroll COO Demirel Exits, Engenhardt Joins As CTO
- KCO GY : Worthington Steel to Acquire Klöckner for €11/Share in Cash --> +25%
- KCO GY : Klöckner & Co Intends to Divest Becker Group
- Madison Air : Industrial Firm Madison Air Said to Seek $2 Billion-Plus in IPO
- ONCO SS : Oncopeptides Prelim 4Q Net Sales SEK18.6M
- 2330 TT : TSMC Shares Jump, Peers Rise After Strong Outlook: Street Wrap
- VOW GY : German Minister Says New EV Subsidies a Boost for Ailing Sector
- WMT US : Walmart International CEO Kathryn McLay to Step Down