Most Asian stocks dropped as investors focused on patches of weakness in China’s economic data even as the overall picture was solid. Shares in mainland China eked out tiny gains, while benchmarks in Hong Kong, South Korea and Australia all declined. China’s economy grew at a faster pace last quarter than economists forecast as consumers ramped up spending, but the recovery was uneven with industrial activity relatively subdued. The yuan strengthened following the data before giving back part of its gains as caution resurfaced. The dollar was little changed, snapping a two-day gain. Government bonds fell in Australia and New Zealand after Treasuries declined on Monday. Treasuries were little changed in Asia, with the two-year yield holding just below 4.2%. New York state manufacturing activity unexpectedly expanded in April for the first time in five months as new orders and shipments snapped back. The possibility of further Fed policy tightening had pushed up Treasury yields and constrained US stocks on Monday, with the S&P 500 erasing losses in afternoon trading and the tech-heavy Nasdaq 100 underperforming major equity benchmarks. Australia’s dollar rose after minutes of the central bank’s April meeting showed members discussed a quarter-point hike before deciding on a pause. Meanwhile, Indonesian policymakers are expected to keep their benchmark unchanged later Tuesday. A gauge of cross-asset volatility remained at 14-month low, reflecting a growing assurance that the worst of the banking turmoil and US rate hikes may be over. The VIX Index, another volatility measure, remained below 17, its lowest since the start of last year. Still, US bank earnings on Monday didn’t entirely relieve investor nervousness that the sector can quickly bounce from turmoil that roiled several lenders earlier this year, as a so-called earnings recession in the world’s biggest economy looms. US After Hours JELD +4.5% up after announcing Australasia business unit sale; PLOW -6.5% down on disappointing Q1 guidance; JBHT -1.8% lower on top and bottom line misses in Q1.
Nikkei +0.41% Hang Seng -0.58% CSI +0.27% Shanghai +0.16% Shenzen -0.02%
EUR$ 1.0939 CNH 6.8765 CNY 6.8713 JPY 134.38 GBP 1.2387 CHF 0.8978 RUB 81.6187 TRY 19.3952 WTI$ 81.01 +0.22% Gold 2000,50 +0.27% BTX 29,588 +0.44% ETH 2,090 +0.63%
S&P -0.02% Nasdaq -0.08% EuroStoxx +0.23% FTSE +0.22% Dax +0.20% SMI +0.32%
Macro :
- JPMorgan’s Kolanovic Says Recent Tech Rally Looks Set to Fade
- BofA Says Earnings Defy Tough Forecasts With Big Upside Surprise
- Italian Foreign Minister Tajani Calls for China to Prod Russia
Keep an eye on :
- ABDN LN : Abrdn Cuts at Least 27 Roles in Its Multi-Asset Team: FT
- ADP FP : ADP March Passenger Traffic +26.2%
- ALKB DC : ALK-Abello Prelim 1Q Revenue Meets Estimates
- BRN GY : Brenntag Activist Demands Board Seats, Escalating Breakup Call
- CARR LN : UK Accounting Watchdog Starts Probe Into KPMG’s Audit of Carr’s
- CTLT US : Danaher Is Said to Shelve Takeover Pursuit of Catalent
- CE2 GY : CropEnergies Sees Significant Reduction in 1Q Results
- DEMANT DC : Demant Boosts FY Ebit Forecast, Beats Estimates
- DRW3 GY : Draegerwerk Prelim 1Q Ebit About EU29M
- ECONB BB : Econocom Sees FY Revenue +5%
- EDPR PL : EDP Renovaveis 1Q Electricity Generation Rises 11%
- ERICB SS : Ericsson 1Q Adjusted Ebit Beats Estimates
- ERICB SS : Ericsson CFO Carl Mellander to Step Down
- GTT FP : GTT Gets Order for Tank Design of Two New LNG Carriers
- HPA1 LN : Hambro Perks Co-Founder Dominic Perks Leaves Company: Times
- HSBA LN : HSBC ADRs Cut at JPMorgan on Valuation, Impairment Charges
- INVA US : Innoviva’s Bacterial Pneumonia Drug Gets FDA Committee Nod
- MTU GY : MTU Aero Prelim 1Q Adjusted Ebit Beats Estimates
- MOWI NO : Mowi Prelim 1Q Ebit About EU322M
- 911 GY : Porsche Unwraps Refreshed Cayenne to Bolster Best-Selling Model
- RNO FP : Renault Sees Final Agreement With Nissan in ‘Matter of Weeks’
- IDS LN : Royal Mail Shares Jump on Union Deal But Analysts See Risks
- SNC PL : Sonae Holds 88.8% of Sonaecom After Bidding for Remaining Stock
- SOP FP : Sopra Steria to File Ordina Bid No Later Than Second Half of May
- UBSG SW : UBS Gets Approval to Use Some Buyback Shares for CS Takeover
- VIRP FP : Virbac 1Q Revenue Misses Estimates
- VOW GY : Volkswagen Has a Shiny Tesla Killer
- FHZN SW : Zurich Airport March Passenger Traffic +57.8%
- WBD IM : Webuild: Total Value of the Project Expected to Reach $1 Bln