Stocks in Asia fell Friday after data from China showed fresh economic weakness and traders reassessed the path forward for US interest rates. A gauge of the region’s equities fell for the first time in six sessions as stocks in mainland China, Australia and South Korea declined, while Japanese shares trimmed early gains. The moves followed a lackluster day on Wall Street and further signs of stress in the world’s second-largest economy. Home sales in China fell in April at a faster pace than the prior month and consumption unexpectedly slowed, providing a new warning sign for the economy. Hong Kong’s Hang Seng Index swung between gains and losses near a nine-month high, as robust results supported Alibaba Group Holding Ltd. and Baidu Inc. US equity futures were little changed after a small decline for the S&P 500 and Nasdaq 100 on Thursday. The yen weakened against the dollar after news the Bank of Japan left bond buying amounts unchanged. One former BOJ chief economist suggested the central bank may raise interest rates three more times this year with the next move coming as early as June, given its easy policy settings. Treasuries were little changed in Asian trading, while Australian and New Zealand yields climbed, tracking moves in US government bonds on Thursday. A gauge of greenback strength rose, while the offshore yuan weakened against the dollar. Traders will be focused on signs of further support for China’s property sector, including a potential plan to clear excess inventory, according to media reports. Key officials will meet Friday morning to discuss such a plan, according to people with knowledge of the matter. Caution in risk assets reflected a repricing of Federal Reserve rate cut expectations in the swaps market. Traders had increased expectations from one cut in 2024 to two following Wednesday’s consumer price index data. On Thursday, those bets retreated, leaving just one cut fully priced in this year. Three Federal Reserve officials said the central bank should keep borrowing costs high for longer as policymakers await more evidence inflation is easing, suggesting they’re not in a rush to cut interest rates. Cleveland Fed President Loretta Mester, New York Fed President John Williams and Richmond Fed President Thomas Barkin, speaking separately Thursday, argued it may take longer for inflation to reach their 2% target. Commodities were broadly higher. West Texas Intermediate climbed early Friday, on pace for a third day of gains. Gold was little changed after a Thursday drop. Bitcoin traded above $65,000 after halting a decline in the prior session. US After Hours DOCS +13.8% higher on earnings; DXC -20.4%, GLOB -5.2%, TTWO -3%, CPRT -1.7%, AMAT -1.3% lower on earnings; RDDT +9.1% on OpenAI partnership; CBRL -11.1% falls on strategic update, dividend cut.
Nikkei -0.54% Hang Seng +0.49% CSI +0.15% Shanghai +0.22% Shenzen +0.43%
Eur$ 1.0859 CNH 7.2304 CNY 7.2266 JPY 155.83 GBP 1.2659 CHF 0.9070 RUB 90.8647 TRY 32.2713 WTI$ 79.32 Gold 2,377 BTC 65.590 +0.50% ETH 2,953
S&P +0.01% Nasdaq +0.07% EuroStoxx -0.28% FTSE -0.12% Dax -0.23% SMI +0.24%
Macro :
- US to Offer Up to $3.4 Billion for Nuclear Fuel Makers in June
- Uranium Supply to Surge as Producers Respond to Elevated Prices
- Tepper Joins Michael Burry in Buying Chinese Stocks: China Today
Keep an eye on :
Keep an eye on :
- ABBN SW : ABB Buys Siemens’ Wiring Accessories Business in China; No Terms
- ABN NA : ABN Amro to Sell Stake in Neuflize Vie to BNP Paribas
- ADP FP : ADP April Passenger Traffic +8.2%
- ARBN SW : Arbonia Buys Door Manufacturers Dimoldura, Lignis; No Terms
- ASM NA : ASMI May Top 2025 Guidance If AMAT's GAA Forecast a Guide: React
- AZE BB : Azelis Holders EQT, PSP Offer About 23m Shares: Terms, placed at EU19/Share (-11.38%)
- BAYN GY : Bayer Says Elinzanetant Studies Met Primary Endpoints
- BO US : Boeing’s Low-Key Chairman Steps Into Spotlight With CEO Hunt
- CXGD PL : Caixa Geral 1Q Net Income EU394.5M, +38% Y/Y
- ALCAR FP : Carmat Offers EU15 Million Shares at EU3/Share, Carmat Raises €16M in Global Offering
- COL SM : Criteria to Hold About 17% Stake in Inmobiliaria Colonial (1)
- CBK GY : Moscow Court Releases Some Russian Assets of Commerzbank: IFX
- CHRY LN : Chrysalis Sinks as WeFox Faces Possible Collapse: Sky News
- ENGI FP : Engie Quarterly Profit Slips 1.2% as Warm Winter Cuts Gas Demand
- ERG IM : Italy’s ERG Plans to Boost Investments Amid US Renewables Push
- FASTAT SS : Fastator CEO Says Company Can Reach Agreement With Bondholders
- FRP LN : FRP Advisory Group Says Performance is Ahead of Expectations
- HLN LN : GSK Intends to Sell About 385m Shares in Haleon, placed @ 324/share (-2.53%)
- HLN LN : Kenvue Sales Lag to Haleon May Last Unless More Fixes Prescribed
- JNJ US : Johnson & Johnson to Buy Proteologix for $850m in Cash
- KAMUX FH : Kamux 1Q EPS Matches Estimates
- KAR SS : Another Holder Anabranch to Reject Forseti’s Offer for Karnov
- KAR SS : Another Holder Anabranch to Reject Forseti’s Offer for Karnov
- LAGRB SS : Lagercrantz FY Dividend per Share Beats Estimates
- LHA GY : EU to Veto Lufthansa ITA Deal Absent Stronger Remedies: Rtrs
- MRL SM : Merlin Properties 1Q Revenue Beats Estimates
- METN SW : Metall Zug Major Holder Takes Majority Stake in Buhofer Trust I
- MTGB SS : MTG Launches SEK400M Share Buyback Program
- NVG PL : Navigator Co 1Q Net Income EU64.1M Vs. EU71.7M Y/y
- NIO US : Nio Holder Tencent Cuts Stake to Less Than 5%: 13D Filing
- NOVOB DC : Keeping Muscle While Losing Fat Is Next Goal for Obesity Drugs
- NYF SS : Nyfosa Offers 17m Shares via Carnegie, Nordea, Swedbank, priced @ SEK102/share (-3.68%)
- PURMO FH : Project Grand Bidco (UK) Limited commences the voluntary recommended public cash tender offer for all the shares in Purmo Group
- PRX NA : *PROSUS NAMES FABRICIO BLOISI AS CEO FROM JULY 1, REPLACING TU
- R3NK GY : Renk Group Holder Rebecca BidCo Offers €250m Worth of Shares, priced @ EUR25/Share (-4.9%)
- CFR SW : Richemont FY Operating Profit Meets Estimates
- CFR SW : Richemont Names Nicolas Bos CEO Effective June 1
- IDS LN : UK postal workers’ union issues strike warning to Daniel Křetínský
- SPM IM : Saipem Gets Offshore Contract of ~$850m by Azule Energy
- SCR FP : Scor 1Q Net Income Misses Estimates
- ENR GY : Siemens Energy’s Onshore-Wind Woes Are Set to Linger, CEO Says
- SNOW US : Snowflake Said to Be in Talks to Buy Reka AI for $1 Billion
- TSLA US : Tesla Cleared for German Plant Expansion by Local Council: RBB
- TOKMAN FH : Tokmanni 1Q Comparable Ebit Loss EU5.1M, Est. Loss EU2.77M
- UN0 GY : Uniper in Advanced Talks to Sell Its Coal Procurement Contracts
- DG FP : Vinci April Passenger Traffic +6.3%