Asian stocks and US equity futures slid as traders digested data that showed China’s economy growing at the second slowest pace since the 1970s. An Asian equity benchmark dipped for the second day, with the Hang Seng Index down more than 1%. Contracts for the S&P 500 also fell, with US markets shut Monday. A gauge of global equities traded flat in a sign the rally that’s pushed it to the best start to a year since 1988 has stalled.
Stocks trading in Hong Kong and mainland China were mostly in the red after China said its economic growth last year slowed as Covid restrictions hammered activity. But better-than-forecast fourth quarter and December data add to optimism it may be primed for a recovery. Among those bullish on the recovery are Goldman Sachs Group Inc. and UBS Group AG as the resumption of activity in China promises to unleash over $836 billion of excess savings, and may help ease fears of a global downturn as other central banks continue to tighten policy. A plan by Chinese financial regulators and the nation’s biggest bad-debt management companies to offer support to high-quality developers may shore up positive sentiment as well. Shares rose in Japan, while the yen fell 0.2% against the dollar as traders weighed the prospects of a possible change in policy by the Bank of Japan on Wednesday. The nation’s 10-year yield climbed above the central bank’s ceiling for a third day as traders added to wagers that it will adjust its yield-curve control policy. Activist investor Ryan Cohen took a stake in Alibaba Group Holding Ltd. and is advocating that the Chinese e-commerce company increase repurchases of its own shares. Some analysts say the move may lift foreign interest in the stock. Earnings reports from Goldman Sachs and Morgan Stanley due Tuesday will provide guidance about the health of the global economy. Bitcoin dipped, but held above $21,000 in a sign of healthy risk appetite. Elsewhere, oil declined as investors waited for a market outlook from the Organization of Petroleum Exporting Countries that may yield clues about supply and demand in 2023. Gold slid.
Nikkei +1,26% Hang seng -1,01% CSI -0,16% Shanghai -0,25% Shenzen -0,08%
Eur$ 1,0824 CNH 6,7668 CNY 6,7623 JPY 128,71 GBP 1,2193 CHF 0,9256 RUB 68,7089 TRY 18,7906 WTI$ 79,26 -0,75% Gold 1,910,50 BTC 21,172 +0,65% ETH 1,569 -0,06%
S&P -0,325 Nasdaq -0,54% EuroStoxx -0,32% FTSE -0,02% Dax -0,32% SMI
Macro :
- China’s Better-Than-Expected GDP Fuels Hopes for Rebound
- China’s Population Starts Shrinking, First Drop Since 1960s
- Goldman, UBS Join Bullish Bets on Global Assets as China Reopens
- Wider Deficit on Higher Imports Could Hit Rupee
- European Car Sales Face 4% Drop in 2022; 2023 Outlook Brighter
- Deliveries of Russian Oil by sea increase 30% over the past week
Keep an eye on :
Keep an eye on :
- ADP FP : ADP: Paris Airports 2022 Traffic at 80.2% of 2019 Levels
- AERO SW : Montana Aerospace Prelim FY Adjusted Ebitda EU115M to EU125M
- AIR FP : Arianespace Names Steven Rutgers Chief Commercial Officer
- AIR FP : Arianespace Names Steven Rutgers Chief Commercial Officer
- AKSO NO : Aker Solutions Wins NOK0.5b-NOK1.5b Subsea Contract in Brazil
- BABA US : Meme Stock Icon Cohen Targets Alibaba in Rare China Activism
- AR4 GY : Aurelius to Apply to End Munich Stock Exchange Inclusion
- BANK LN : Fiinu Rated New Buy at Panmure Gordon
- EN FP : Xavier Niel Applies for French TV Frequency, Le Figaro Reports
- BRBY LN : Burberry Names Giorgio Belloli Chief Digital Customer
- DNO NO : DNO 4Q Kurdistan Gross Operated Production 107,822 Boepd
- ENX FP : Euronext Plans to Extend Clearing to Derivatives in 2024
- 3333 HK : Evergrande Is Said to Propose Two Offshore Restructuring Options
- LSEG LN : Euronext Plans to Extend Clearing to Derivatives in 2024
- FORN SW : Forbo Prelim FY Profit Misses Estimates
- BOSS GY : Hugo Boss Boosts FY Ebit Forecast, Beats Estimates
- IBE SM :
- Ionos IPO : IONOS Is Planning IPO in First Quarter of 2023 in Frankfurt
- KESKOB FH : Kesko Dec. Sales From Continuing Operations EU968.2M
- LISN SW : Lindt & Spruengli FY Operating Margin Forecast Beats Estimates
- MC FP : MS, RBC Positive on Luxury Goods Recovery in China for 2023
- MSFT US : Microsoft to Add ChatGPT to Azure Cloud Services ‘Soon’
- MNG LN : Pressure to Cut DB Pension-Fund Leverage Affects More Than Gilts
- MJH LN : Inflexion Private Equity Among Suitors for MJ Hudson Assets: Sky
- 002714 CH : Muyuan Is Said to Pick CICC, JPMorgan for $1.5 Billion GDR Sale
- NCC LN : NCC Loses Clean Sweep of Buys as Berenberg Sees Earnings Risks
- NDX1 GY : Nordex Prelim 4Q Orders 1.9 GW
- RNO FP : Renault CEO to Visit Japan This Weekend for Nissan Talks: Jiji
- RNO FP : Nissan, Renault on Track to Complete Deal to Revamp Alliance --> Nissan +2,80%
- RNO FP : Renault, Geely Seek to Bring Aramco Into Engine Venture: RTRS
- SAN SM : Santander Bets on Institutional Clients to Grow its Funds Unit
- SOL SM : Soltec Signs €100m Financing Deal for Asset Management Unit
- VOW GY : VW Sees China Market Accelerating After First Quarter
- WEW GY : Westwing Group Prelim FY 2022 GMV EU481 Million, -18% Y/Y