The dollar gained along with US and European stock futures in a mixed day for risk assets, as Asian shares retreated. The MSCI Asia Pacific Index snapped a three-day winning streak as investors largely shrugged off the news that China’s economy had expanded at its fastest pace in six quarters. The country’s benchmark CSI 300 Index fluctuated after the data release, though was higher in the afternoon session. Shares in South Korea, India, Australia and Japan declined. The dollar gained against all Group-of-10 peers, though was still on track for the first weekly decline since November. China’s economy hit the government’s growth goal last year after an 11th-hour stimulus blitz and export boom turbocharged activity. But looming US tariffs threaten to take away a key driver of expansion. The downward moves in Asian stocks came even as they’re set to gain for the week, with the advance fueled in prior sessions by bets that Federal Reserve interest rate cuts may come sooner than previously expected. Investors were also looking ahead to a meeting of Japan’s central bank next week. Traders are betting that a rate hike is almost certain. China’s better-than-expected economic growth “signals that the stimulus measures of 2024 are having an impact,” said Charu Chanana, chief investment strategist at Saxo Markets. “But that doesn’t rule out that China markets still face structural headwinds as well as tariffs risks, and the response to those will be the ultimate driver of long-term returns.” The latest economic data suggests Beijing’s policy pivot since late September helped counter headwinds from a years-long property slump and entrenched deflation. It has vowed further monetary easing and stronger public spending this year, as the economy braces for Donald Trump’s return to the White House. Adding to uncertainty around Chinese assets on Friday, China Vanke Co. slid to record lows in credit markets amid questions on the latest status of its top executive and a local news report that the property developer may be seized by state authorities. The yen held its more than 1% gain against the greenback this week amid speculation the Bank of Japan may hike its key rate next week. Overnight index swaps on Friday showed as much as a 99% chance of a move by the BOJ at its Jan. 23-24 meeting, climbing from 71% on Wednesday. Nintendo Co. shares slumped the most in more than three months after a glimpse of its next-generation Switch 2 console appeared similar in concept and design to the current model. Rio Tinto Group slipped in Australia following a report it has held early-stage talks on combining its business with Glencore Plc. Treasuries were little changed after rising Thursday as Federal Reserve Governor Christopher Waller told CNBC that officials could lower rates again in the first half of 2025 if inflation data continue to be favorable. He also wouldn’t entirely rule out a cut in March. Swap trading implied a little bit more easing this year. In currencies, the dollar was steady. In commodities, oil headed for a fourth straight weekly gain ahead of President-elect Donald Trump’s second term, with traders seeking clarity on far-reaching sanctions and trade policies.. Brent crude rose toward $82 a barrel, up about 2% this week, while West Texas Intermediate was near $79. Gold is set for a third straight week of advances. US After Hours RIVN +5% and PLUG +3.3% charging up on loan agreements with DOE; JBHT -7.7% heading in reverse on earnings miss.
Nikkei -0.31% Hang Seng +0.29% CSI +0.33% Shanghai +0.20% Shenzen +0.36%
Eur$ 1.0290 CNH 7.3425 CNY 7.3280 JPY 155.70 GBP 1.2207 CHF 0.9122 RUB 103.6868 TRY 35.5489 WTI$ 79.17 +0.62% Gold 2,712 -0.10% BTC 101,405 +1.25% ETH 3,370 +1.55%
S&P +0.16% Nasdaq +0.18% EuroStoxx +0.10% FTSE +0.49% Dax +0.22% SMI -0.08%
Macro :
- Davidson Kempner Unveils Leadership Changes as Executives Depart
- Netanyahu Says Israel-Hamas Deal to Pause Gaza War On Track
- SpaceX Loses Starship in Unexpected Test Flight Setback
Keep an eye on :
Keep an eye on :
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- ALLFG NA : SIX Swiss Exchange Fully Acquires Swiss Fund Data AG; No Terms
- AMGN US : FDA Approves Amgen Combination for Some Colorectal Cancer
- ANTIN FP : Antin Holders Offer About 4.15M Shares: Terms, Antin Offering by Holders Prices at €10.40/Share, Terms Show
- AVOL SW : Avolta to Launch Share Buyback of Up to CHF200M
- AZN LN : FDA Approves Astra’s Acalabrutinib for Some Lymphoma Patients
- BVI FP : Bureau Veritas Talked With Intertek Before Targeting SGS: FT
- CVC NA : CVC Capital Fund Raises Offer for Macromill to 1,250 Yen/Share
- ENGI FP : Engie Adjusts Global Business Units Scope in Energy Transition
- ENGI FP : Engie Adjusts Global Business Units Scope in Energy Transition
- GLEN LN : Rio Tinto, Glencore Are Said to Discuss Potential Combination
- GM US : General Motors Settles With FTC Over Sharing Private Driver Data
- HON US : Honeywell Breakup Would Set the Stage for a Tidy 25% Gain
- IBAB BB : IBA Says CFO Chandramouli to Step Down on Jan. 31
- NCCB SS : NCC Gets Order Worth About SEK600m to Rebuild Oceana Water World
- INPOST NA : Poland’s InPost to Invest Additional £600 Million in UK by 2029
- PLUG US : Plug Power Snags $1.7 Billion DOE Loan Guarantee For Hydrogen Plants
- QRVO US : Starboard Value Builds 7.7% Stake in Chip Maker Qorvo, Sources Say -- WSJ
- RATOB SS : Ratos’ Plantagen Gets Court Approval for Restructuring
- RIVN US : Rivian Secures Up to $6.6b Loan from US DOE for Georgia EV Plant
- RIO LN : Rio Tinto, Glencore Are Said to Discuss Potential Combination
- SDR LN : Schroders Said to Cut 3% of Workforce in Bid to Revive Growth
- SMIN LN : Engine Capital Urges Smiths Group to Explore Break Up: FT
- GLE FP : Vista Expands Banking to France in First Outside-Africa Push
- SMHN GY : SUSS MicroTec Prelim FY Sales EU445M
- SQN SW : Swissquote Prelim FY Pretax Profit at Least CHF345M
- TSLA US : SpaceX Says It Will Conduct Thorough Investigation With FAA
- TMC US : Deep-Sea Miner TMC Climbs as WSJ Reports Trump to Boost Sector
- 2202 HK : Vanke Bonds Drop to Record With Question on CEO Whereabouts (2)
- VIRP FP : Virbac Forecasts 2025 Results