Asian shares drifted higher in range-bound trade, as investors braced for the Federal Reserve’s final policy decision of the year. A gauge of regional stocks rose 0.3% after a three-day loss, with gains in Hong Kong and mainland China offsetting declines in Japan and Australia. US futures ticked higher after both the S&P 500 and Nasdaq 100 shed 0.4% Tuesday. Shares of Nissan Motor Co. jumped as much as 24%, the most since at least 1974, on news that the ailing carmaker is exploring a possible merger with Honda Motor Co. The latter’s stock dropped. Treasuries rose slightly while Bloomberg’s dollar gauge was little changed. The yen turned steady ahead of the Bank of Japan’s policy decision Thursday. While the Fed is widely expected to cut interest rates by another 25 basis points on Wednesday, the focus is on its outlook for next year given Donald Trump’s proposed policies that may rekindle inflation. The central bank’s meeting also comes as US economic data showed a mixed picture, with retail sales increasing at a firm pace and industrial production unexpectedly declining. Bank of America Corp. sees the Fed lowering interest rates to the 3.75% level — or three more cuts from where they are currently, Chief Executive Officer Brian Moynihan said on Bloomberg Television. Back in Asia, a gauge of Hong Kong-listed Chinese tech stocks rose as much as 2.3%, shrugging off news that the US is set to initiate a trade investigation into the country’s semiconductors in the coming days. The onshore CSI 300 Index gained 0.8%, after President Xi Jinping urged officials to “scientifically” plan economic and social development work for 2025 and seek a good start for the new year. Still in China, longer-dated government debt fell as a media report on the central bank’s discussions about risks for financial institutions renewed concerns over authorities’ pushback against a relentless bond rally. In corporate news, Vishal Mega Mart Ltd.’s shares surged in their Mumbai debut on Wednesday after raising $944 million in India’s last major new listing of the year. Memory-chip maker Kioxia Holdings Corp. soared 12% in its debut on the Tokyo Stock Exchange on Wednesday, underscoring strong investor demand for new shares in Japan. Meanwhile, Indonesia’s central bank is scheduled to announce its policy decision later Wednesday, after the nation’s anti-graft agency searched its headquarters as part of a probe into the monetary authority’s use of corporate social responsibility funds. Japan’s exports posted another gain in November as the yen’s weakness helped exporters. This comes as the BOJ is set to discuss whether or not a rate hike is warranted on Thursday, with views from officials suggesting a lean toward a hold amid growing speculation of a January move. In currency markets, the Canadian dollar slid to its lowest level since March 2020. Brazil took extraordinary measures to stem a collapse in the real, selling over $3 billion in local markets. Bitcoin took a breather after scaling $108,000 for the first time, with traders eyeing the $110,000 price level. Over in the commodities space, oil edged higher after a two-day drop as an industry report signaled a sizable drawdown in US commercial crude inventories. Gold was flat. US After Hours WOR +14.2% pops on Q2 earnings beat; HEI -6.2% falls following quarterly results.
Nikkei -0.72% Hang Seng +0.78% CSI +0.40% Shanghai +0.48% Shenzen +0.32%
Eur$ 1.0506 CNH 7.2897 CNY 7.2847 JPY 153.46 GBP 1.2704 CHF 0.8924 RUB 104.5568 TRY 35.0150 WTI$ 70.12 +0.06% Gold 2,647 BTC 103,750 -2.52% ETH 3,840 -2.34%
S&P +0.12% Nasdaq +0.06% EuroStoxx +0.04% FTSE +0.02% Dax -0.10% SMI -0.27%
Macro :
- Crypto and Rates to Drive US Convertible Debt Growth in 2025
- Chinese Chip Stocks May Fall After US Plans Semiconductor Probe
Keep an eye on :
Keep an eye on :
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- AIR FP : DAE Gets $201M in Settlements With Insurers Over Russia Leases
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- ALC SW : Alcon Named Top Pick at Needham on Promising Lineup of Launches
- ANTO LN : *BHP, ANTOFAGASTA, ALBEMARLE REACH DEAL TO REPAIR CHILE AQUIFER
- ATS AV : AT&S Cuts FY 2026/27 Revenue Forecast
- AZN LN : AstraZeneca May See Sales Dip in China After Wang’s Arrest: FT
- BNP FP : BNP Paribas, Credit Agricole Downgraded by Moody’s on France Cut
- BPM IM : Banco BPM CEO Says UniCredit Bid Doesn’t Offer Premium
- BVI FP : Bureau Veritas Enters CAC 40 Index as Vivendi Drops Out
- CABK SM : Caixabank Total & Sub Mrel Requirement Set at 21.23% of RWA
- CEC GY : Ceconomy FY Adjusted Ebit Beats Estimates
- ACA FP : Credit Agricole Picks Olivier Gavalda to Replace CEO Brassac
- CTT PL : CTT Agrees to Buy Spanish Logistics Company Cacesa for €104m
- DAE SW ; Datwyler Launches Program to Boost Rev., Profitability Growth
- ETL FP : Eutelsat Selects Airbus for OneWeb Low Earth Orbit Extension
- FUR NA : Fugro Gets New €400M Financing on Improved Terms
- GIMB BB : Gimv Sells Majority Stake in Köberl Group to B+N; No Terms
- GRE SM : Grenergy to Sell Oasis de Atacama Project Phases 1-3 for $962m
- HNSA SS : Hansa Biopharma Announces ‘Positive’ Phase 2 Imlifidase Results
- KER FP : Kering Mulls Real Estate Asset Spinoff Worth Up to €4b: Sole
- KINVB SS : Swedish Investor Kinnevik Gets Tougher With Its Tech Startups
- 285A JP : Chipmaker Kioxia Surges 12% in Tokyo Debut After Jumbo IPO (2)
- KTN GY : Kontron Gets Defense Order Worth Around €165M
- MAIRE IM : Maire Signs Pact for JV Between Nextchem Unit and Newcleo
- BMPS IM : Monte Paschi Says Five Independent Directors Resigned
- MTX GY : MTU Aero Names Johannes Bussmann as CEO to Replace Wagner
- NEOEN FP : Australia Commits A$100M to Neoen for Battery Projects
- 7201 JP : Honda, Nissan to Start Talks on Possible Merger, Nikkei Says (3)
- 7201 JP : Honda Explores Nissan Merger With Foxconn Also in Hunt for Stake
- 7201 JP: Foxconn Said to Have Approached Nissan to Take Controlling Stake
- 7201 JP : Hon Hai Made Buyout Proposal to Nissan, Diamond Says (1)
- OMV AV : OMV Discontinues Sale of E&P Business in New Zealand
- PKTM AV : Pierer Mobility in Talks With Potential Investors
- PROX BB : Proximus Forms Proximus Global Unit; Assigns it ~€3.1B Valuation
- PROX BB : Proximus Forms Proximus Global Unit; Assigns it ~€3.1B Valuation
- RECSI NO : REC Silicon Fails Moses Lake Plant Qualification Test
- RNO FP : Stellantis Says It Has No Plans to Merge With Rival Renault
- RNO FP : Renault to Benefit From Possible Honda-Nissan Deal: Jefferies
- 006400 KS : US Finalizes $7.54B Loan for Samsung SDI-Stellantis Battery Hub
- TE FP : TechnipFMC Wins Contract for Shell Development in Nigeria
- TEP FP : Salesforce Launches AI Agent That Handles Complex Questions - The Information
- TSLA US : Tesla’s China Factory Head Song Gang Set to Depart This Week
- DG FP : Vinci Nov. Passenger Traffic +8.8%
- VIV FP : Bureau Veritas Enters CAC 40 Index as Vivendi Drops Out
- VU FP : VusionGroup Gets Contract From Fresh Market in US