Asian equities fluctuated as traders awaited a raft of interest-rate decisions by central banks this week, including the Federal Reserve.
A key stock benchmark for the region traded in a tight range, with Australia rising. Shares in mainland China eked out a gain while those in Hong Kong fell, as Reuters reported that Beijing plans to target 2025 gross domestic product growth of around 5%. Contracts for US equities were steady during Asia trading after the Nasdaq 100 gained more than 1% to reach another record high. All eyes will be on a multitude of central bank policy decisions slated for this week, including the US and Japan. Sentiment in the US is relatively positive, with a widely expected quarter-point rate cut from the Fed on Wednesday seen as adding fresh support and extending gains in stocks. The yen snapped a six-day losing streak after weakening beyond the 154 level versus the dollar overnight. The yen’s rapid decline in the past week toward 155 against the dollar has strategists warning that further weakness may trigger verbal intervention from authorities and add pressure on the Bank of Japan to hike rates. Traders are pricing in a less than 20% chance of a rate hike in December, according to swaps market pricing. Bloomberg’s dollar index was little changed Tuesday. The 10-year Treasury yield was flat at 4.39%. The outlook for Chinese equities remains unclear after weak retail sales numbers suggest the country’s economic recovery has ways to go despite top leaders’ signals for stronger stimulus to fuel consumer demand. Chinese Premier Li Qiang urged government officials in a meeting Monday to swiftly carry out key economic tasks for the coming year. Over in Hong Kong, Alibaba Group Holding Ltd. led the Hang Seng Index’s decline, as the Chinese tech company shed as much as 2.1% after it agreed to sell equity interest in Intime to a consortium of buyers. In Japan, shares of SoftBank Group Corp. rose as much as 4.3% after President-elect Donald Trump announced at an event, alongside Chief Executive Officer Masayoshi Son, that the investment holding company planned to invest $100 billion in the US over the next four years. South Korean electric vehicle battery stocks fell, driven by a selloff by foreign investors, as a media report deepened concerns over US policy issues. Samsung Electronics shares declined as much as 2.9% after Goldman Sachs reduced its price target on the stock and lowered its earnings estimates by 11%. Investors’ main focus for the rest of the week remains Wednesday’s Fed decision, which will be followed by policy announcements in Japan, the Nordics and the UK. Bitcoin rose to a record high on Trump’s support for digital assets and optimism about the upcoming inclusion of MicroStrategy Inc., an accumulator of the token, in a key US stock gauge. Oil steadied after a decline, as lackluster economic data from China reinforced concerns about weakening demand in the world’s biggest crude importer. Gold was little changed, holding on to a slight gain in its previous session. US after Hours MITK +18.2% surges on Q4 results, EBAY +1.9% climbs on incremental $3.0 bln to repurchase plan; NUE -1% ticks lower following downbeat guidance.
Nikkei -0.24% Hang Seng -0.48% CSI 0.22% Shanghai -0.80% Shenzen -1.80%
Eur$ 1.0506 CNH 7.2920 CNY 7.2839 JPY 154.18 GBP 1.2677 CHF 0.8947 RUB 103.6445 TRY 34.9680 WTI$ 70.69 Gold 2,654 BTC 106,700 +0.55% ETH 4,015 -0.80%
S&P -0.19% Nasdaq -0.09% EuroStoxx -0.28% FTSE -0.35% Dax -0.13% SMI -0.20%
Macro :
- Watch French Stocks as Budget Crisis Cuts Into Growth Outlook
- Trump Says Xi Hasn’t Confirmed Attendance for His Inauguration
- Trump Says Xi Hasn’t Confirmed Attendance for His Inauguration
- Argentina Weighs Managed Exchange Rate Once Controls Are Lifted
- Blue Owl’s Co-Founder Seeks Multiway Merger to Form PE Firm: FT
- Russia Oil Being Delivered on More Mainstream Tankers, BRS Says
- Chinese firms forge ties with UAE as Gulf nation acts as ‘superconnector’ in global trade
Keep an eye on :
Keep an eye on :
- AFRM US : Affirm Said to Offer $750m Convertible Bonds at 0.75% Coupon
- BABA US : Alibaba to Record $1.3 Billion Loss in Sale of Intime Stores
- ASSAB SS : Assa Abloy Buys Roger in Poland
- BAMNB NA : Dutch Authorities Conclude Probe Into BAM International
- EN FP : Bouygues, JV Partners Get A$1.7B Australia Rail Project
- CO FP : Nelson Tanure Talks With Casino on Buying Some GPA Shares: Rtrs
- D6H GY : DATAGROUP is the first company in Germany to receive the BSI certificate for its Managed Private VS-NfD DefenseCloud
- EDP PL : Portugal Regulator Approves 2.1% Increase for Electricity Tariff
- EVN AV : EVN Proposes 90-Cent/Share Dividend for FY24
- IIA AV : CPI Property Buys Immofinanz Certificates After Drop
- INTRUM SS : Intrum Says It’s in Settlement Talks With 2025 Ad Hoc Group
- KEMIRA FH : Kemira Proposes Annika Paasikivi as New Chair of the Board
- LYTIX NO : Lytix Biopharma Offering of 16.7m Shares Prices at NOK6/Share
- MRK US : Merck Discontinues Cancer Trials, Bets on Other Candidates
- NOVN SW : UCB-Novartis Parkinson’s Study Fails Primary Endpoint (Dec. 16)
- NUE US : Nucor 4Q EPS Outlook Misses Estimates on Steel Mill Softness
- PSH NA : Pershing Square Holdings to Buy Back Another $100m
- PNL NA : PostNL to Name Linde Jansen CFO Effective April 15
- PRYME NO : Pryme Offering of 26.9m Shares Prices at EU0.15/Share
- SDZ SW : Sandoz US to Pay $275M to Settle Antitrust Claims of End Payers
- SKAB SS : Skanska Invests €76m in Phase 2 of Office Project in Hungary
- TIT IM : CVC Said to Weigh Purchase of Vivendi’s Telecom Italia Stake
- TIT IM : Bain Could Also Look Into Telecom Italia Stake Deal: Messaggero
- UCB BB : UCB-Novartis Parkinson’s Study Fails Primary Endpoint (Dec. 16)
- UMG NA : UMG’s Virgin Music Group to Buy Downtown Music for $775m in Cash
- VK FP : Vallourec to Sell Düsseldorf-Rath Site to CTP for €155 Million
- VIV FP : CVC Said to Weigh Purchase of Vivendi’s Telecom Italia Stake
- VIV FP : CVC Said to Weigh Purchase of Vivendi’s Telecom Italia Stake
- VIV FP : Bain Could Also Look Into Telecom Italia Stake Deal: Messaggero