Japan equities extended their advance as better-than-expected economic growth fueled optimism over the market outlook. The offshore yuan weakened. Japanese stocks led gains among major benchmarks in Asia, after the Topix Index closed at the highest level since 1990 on Tuesday. The nation’s markets may be on the cusp of a rare bull market, according to Goldman Sachs Group Inc. The government said Wednesday gross domestic product expanded at the fastest pace in three quarters as a further easing of pandemic regulations boosted consumer spending. The offshore yuan, meanwhile, fell to as weak as 7.0097 to the US currency Wednesday, the first time it has breached the 7 level since late December as economic data continued to disappoint. Shares in mainland China fluctuated, while the Hang Seng China Enterprises Index dropped as much as 0.9%. A slew of weaker-than-expected data from China, including industrial output and retail sales, has raised concerns over the strength of recovery in the world’s second biggest economy and spurred calls for more policy stimulus to bolster growth. Shares advanced in South Korea and fell in Australia. US stock futures edged higher in Asia after the Nasdaq 100 closed up just 0.1% and the broader S&P fell, following a rapid decline in the final minutes of the session. President Joe Biden and House Speaker Kevin McCarthy were hopeful when asked whether a deal on the debt-ceiling could be reached within days to end a stalemate ahead of a potential US default. US After Hours KEYS +7.8% up on earnings; WAL +7.6% up after outlining QTD deposit growth exceeding $2.0 bln; AGYS -9.9%, DOCS -8.1%, KD -7% all down on earnings.
Nikkei +0,66% Hang Seng -0,48% CSI-0,35% Shanghai -0,23% Shenzen +0,11%
eur$ 1,0866 CNH 7,0007 CNY 6,9946 JPY 136,57 GBP 1,2481 CHF 0,8958 RUB 80,4874 TRY 19,7448 WTI$ 70,89 +0,04% Gold 1,991,3 +0,31% BTC 27,091 +0,50% ETH 1,827+0,27%
S&P +0,21% Nasdaq +0,25% EutoStoxx -O,12% FTSE -0,18% Dax -0,03% SMI
Macro :
- Global Economy Risks Stalling as China, Germany Juggernauts Slow
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