Japanese stocks led a regional gauge lower as traders look ahead to decisions from the Federal Reserve and the Bank of Japan this week. The MSCI AC Asia Pacific Index declined, with the Nikkei 225 off more than 2% even as benchmarks for Australia and Hong Kong rose. Futures for US stocks slipped after the S&P 500 rose 0.1% while the Nasdaq 100 slid 0.5%, as investors continue to rotate out of the tech megacaps that have powered the bull market. The dollar held around its lowest level since January as traders boosted bets the Fed will deliver a half-point rate cut Wednesday. Markets have been predicting a cut of anywhere between 25 and 50 basis points as US economic data have started to weaken, though inflation has remained sticky. US retail sales out later Tuesday may offer clues on the upcoming Fed decision. In Hong Kong, Chinese appliance giant Midea Group Co. shares climbed as much as 9.5% in its stock market debut, after robust demand for the biggest public stock offering in three years revives hopes for the city’s languishing market. Concern continues about the strength of China’s economy. Disappointing economic data over the weekend is adding pressure on the authorities to ramp up fiscal and monetary stimulus if the nation is to reach this year’s growth target. The country faces yet another challenge in proposed tariffs by the US in areas such as medical products. Malaysian glove-maker shares including Top Glove Corp surged on Tuesday after the US was expected to finalize tariffs on Chinese goods this month. Trading in China, Taiwan and South Korea was shut for public holidays. Meanwhile, the yen was steady after strengthening beyond 140 per dollar for the first time since July 2023 on Monday, as the Japanese currency extended its rally from the weakest point in nearly 38 years in July. The yen has been steadily appreciating from market expectations that the interest rate differential between the US and Japan will narrow further leading to a decline in the export-heavy Japanese equities. The Bank of Japan is expected to stay on hold on Friday after raising rates twice this year with all 53 economists surveyed by Bloomberg said Ueda’s board will leave the benchmark rate at 0.25% when its two-day meeting concludes Friday. Leveraged funds are diverging in their positions on the yen. Some short-term funds locked in profits ahead of the monetary-policy decisions this week, while others are looking to increase their long-yen positions on bets for a large rate cut by the Fed. In commodities, gold remained near record levels, with traders betting that it’ll benefit from a weaker US dollar and lower Treasury yields off the Fed decision. Other precious metals gained, with silver rising toward $31 an ounce, up for a seventh straight day and on pace for the longest stretch of daily gains since 2019. INTC +8.7% jumping on several headlines, including co-investment with AWS (AMZN); STLD -0.1% inches lower on guidance.
Nikkei -1.62% Hang Seng +1.51% CSI Closed Shanghai Closed Shenzen Closed
Eur$ 1.1123 CNH 7.0972 CNY 7.0972 JPY 140.72 GBP 1.3201 CHF 0.8444 RUB 91.3750 TRY 34.0359 WTI$ 70.57 +0.68% Gold 2,578.93 -0.14% BTC 58,241 +0.99% ETH 2,286 +0.51%
S&P +0.00% Nasdaq 0.10% EuroStoxx +0.54% FTSE +0.58% Dax +0.49% SMI +0.48%
Macro :
- UK Oil and Gas Industry Reaches Emissions Goal Early, Lobby Says
- Goldman Trading Desk Says It’s Time to Buy the Dip in AI Stocks
- Goldman Trading Desk Says It’s Time to Buy the Dip in AI Stocks
- Rokos Macro Hedge Fund Slumped 5% in August Market Turmoil
- US, Japan Near Deal to Curb Chip Tech Exports to China: FT
- NYSE Executive Expects Large Number of Listings Coming in 2025
- EU Industrials' EPS Growth Can Offset Economic-Slowdown Threat
- Luxury Stocks May Decline Further, Lazard Freres Gestion Says
Keep an eye on :
Keep an eye on :
- AC FP : Accor Valuation Discount Overlooks EPS Growth as Board on Watch
- ADP FP : ADP Aug. Passenger Traffic +6.4%
- AIR FP :
- AIXA GY : Aixtron Renews CEO Felix Grawert’s Contract by Further 5 Years
- ASML NA : ASML, Tokyo Electron Can Grow Sales on Intel, Amazon Deal: React
- BAVA DC : UK Orders More Mpox Shots in Case New Strain Enters Country
- BX US : Blackstone Real Estate’s Stein Retiring After Almost 30 Years
- BX US : Blackstone Real Estate’s Stein Retiring After Almost 30 Years
- BMW GY : Business Day.za: Disgruntled BMW SA workers embark on strike over ‘fraud investigation’
- BOX US : Box Is Said to Offer Up to 2% Coupon for $400M Convertibles
- BP/ LN : BP puts $2bn US onshore wind business up for sale - FT
- BP/ LN : BP Seeks to Focus on Core Business to Boost Investor Interest
- CLN SW : Clariant Sells Frankfurt Industrial Property for €95M in Cash
- CBK GY : UniCredit May Seek ECB Nod For 30% Commerzbank Stake: Messaggero
- CTPNV NA : CTP Offers 18 Million Shares: Terms
- DADA US : Dada Nexus Says JD.com Bought Walmart’s Stake in the Company
- SATS US : EchoStar Rallies as Dish-DirecTV Said to Be in Merger Talks
- EL FP : EssilorLuxottica Extends Existing Partnership With Meta
- FAST NA : *Fastned JV to Develop Electric Vehicle Ultra-Rapid Charging Hubs Across London
- GFR US : Waterous Buys $241 Million Stake in Oil-Sands Driller Greenfire
- HELN SW : Helvetia Decided to Redeem CHF 225M Hybrid Bond on Oct. 17
- IDEX NO : IDEX Biometrics Offers Shares at NOK0.15/Share
- IDEX NO : IDEX Biometrics Offers Shares at NOK0.15/Share
- INTC US : Intel Gets Up to $3b to Make Chips for US Department of Defense
- IG IM : Italgas' Growth Is Faster vs. Peers; M&A Clouds Leverage Profile
- IPS FP : Bpifrance’s Lac1 Fund Buys >5% Stake in Ipsos
- LDO IM : Leonardo to Invest £435m in UK in 2024, Starmer Says
- MC FP : Luxury Stocks May Decline Further, Lazard Freres Gestion Says
- MSTR US : Microstrategy Said to Offer Up to 0.625% Coupon for Convertibles
- NP3 SS : NP3 Fastigheter Offers 3.5m Shares, NP3 Fastigheter Offering of 4m Shares Prices at SEK250/Share
- RXL FP : Rexel’s Largest Holder Cevian Backs Firm in Spurning QXO Bid
- RUI FP : Rubis’ Photosol Targets Secured Portfolio Above 2.5 GWp by 2027
- SEBA SS : SEB Merges Wealth, Asset Management Units; Creates COO Function
- 3382 JP : Japan Finance Minister Plays Down Seven & I’s ‘Core’ Designation
- SMAR US : Vista, Blackstone Near ~$56/Shr Deal for Smartsheet: Reuters
- SMHN GY : SUSS MicroTec is a ‘Hidden Gem,’ Initiated Buy at Jefferies
- SY1 GY : Germany’s Symrise Plans Up To $20m Investment in Pakistan
- TIT IM : Davide Leone & Partners Gets 10% of Telecom Italia Saving Shares
- THG LN : THG Weighs Demerger of Technology Platform Ingenuity: Sky News
- UCG IM : UniCredit May Seek ECB Nod For 30% Commerzbank Stake: Messaggero
- VOW GY : Swedish PM rules out government rescue of troubled Northvolt, Battery start-up struggles to gain backing for latest fundraising amid Europe’s slowing take-up of electric vehicles - FT
- VOW GY : Volkswagen dropping in-house U.S. auto loans, giving business to Wells Fargo