Asian stocks advanced, with gauges in Hong Kong outperforming after a meeting between China’s President Xi Jinping and business leaders raised expectations of more support for the private sector. A regional benchmark of shares rose to its highest level since early November with a gauge of major Hong Kong-listed technology stocks trading at a three-year high. Australian stocks extended losses after the central bank cut its policy rate. US equity index futures pointed to a gain while contracts for Europe were flat. The dollar strengthened against all of its Group-of-10 peers and US Treasury 10-year yields were up four basis points to 4.5% as the bond market reopened Tuesday after the Presidents’ Day holiday. Earlier, Federal Reserve Governor Christopher Waller said recent economic data supported keeping interest rates on hold until more progress was seen in inflation. The optimism around China got a further lift Monday after the encounter between Xi and corporate leaders, including Alibaba Group Holding Ltd. co-founder Jack Ma. Several analysts saw the conclave as a possible end to the years-long crackdown on the private sector. Chinese shares have added more than $1 trillion since DeepSeek’s breakthrough in artificial intelligence. Xi’s meeting drew many of the biggest names in Chinese business over the past decade, representing industries from chipmaking and electric vehicles to AI. The summit demonstrated Beijing’s softer stance toward the companies that fuel most of economy, just as Washington ramps up a potentially debilitating campaign of global tariffs. China’s government bond yields advanced with the 10-year rising 4 basis points to 1.73%, the highest since December, as tight cash conditions in the local market and a rally in stocks sapped the demand for debt. Meanwhile, Fed Governor Waller said if US inflation behaves as it did in 2024, policymakers can get back to cutting “at some point this year.” Meanwhile, the Australian dollar briefly climbed before paring gains after the country’s central bank said it remains cautious on future easing after lowering official cash rate. In commodities, oil steadied an advance as OPEC+ delegates said the group was considering delaying restoring output, and Ukrainian drones attacked a crude-pumping station in Russia. Gold held a gain after rising 0.5% on Monday. Goldman Sachs Group Inc. analysts raised their year-end gold target to $3,100 an ounce on central-bank buying and inflows into bullion-backed exchange-traded funds.
Nikkei +0.25% Hang Seng +0.73% CSI -0.95% Shanghai -1.01% Shenzen -2.09%
Eur$ 1.0456 CNH 7.2825 CNY 7.2806 JPY 151.95 GBP 1.2599 CHF 0.9031 RUB 91.4552 TRY 36.2544 WTI$ 71.48 +1.05% Gold 2,912 +0.51% BTC 95,570 -0.89% ETH 2,670 -3.90%
S&P +0.34% Nasdaq +0.45% EuroStoxx +0.04% FTSE -0.01% Dax +0.19% SMI +0.12%
Macro :
- OpenAI Mulls Special Voting Rights to Fend Off Hostile Bids: FT
- Japan Will Study Trump Auto Tariff, Respond Appropriately: Muto
- Sutskever Startup Is Fundraising at $30 Billion-Plus Valuation
Keep an eye on :
Keep an eye on :
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- EVD GY : CTS Eventim Prelim FY Adjusted Ebitda EU542.2M
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- ENG SM : Enagas FY Ebitda Beats Estimates
- ENI IM : KKR to Buy Additional 5% of Eni’s Enilive Unit for €587.5M
- GREEN BB : Greenyard 9M Like-for-Like Sales +5.6%
- HHFA GY : Hamburger Hafen Prelim FY Ebit EU134M
- HEES US : H&E Accepts Herc Rentals’s Bid at $5.3b Valuation: FT
- 7201 JP : Nissan Motor Downgraded to A-; Outlook to Stable at JCR
- EVLI FH : Nokian Panimo Plans IPO, Listing on First North Growth Finland
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- RNO FP : Honda Willing to Restart Merger Talks if Nissan CEO Leaves: FT
- IDS LN : Union boss vows to challenge Royal Mail reform plans
- SALM NO : Salmar 4Q Operating Ebit Beats Estimates
- SAN FP : Sanofi’s Dupixent SBLa Accepted for FDA Priority Review
- SAN SM : Sheinbaum Meets With Santander’s Ana Botín in Mexico City
- SHLF NO : Arabian Drilling, Shelf Drilling Sign MoU for Offshore Alliance
- SFZN SW : Siegfried FY Sales Meet Estimates
- STLN SW : Swiss Steel Holders Approve Voluntary Delisting Proposal
- SVS LN : Investor Consortium to Sell Two Floors in HK Buiding: Ming Pao
- TSLA US : Musk’s xAI Debuts Grok-3 AI Bot Touting Benchmark Superiority
- RIG US : Transocean 4Q Contract Drilling Revenue Beats Estimates
- TRUEB SS : Truecaller 4Q Ebit Beats Estimates
- UCG IM : UniCredit Holds 5.229% of Assicurazioni Generali: Consob Filing
- UCG IM : UniCredit’s Orcel Met Generali CEO Donnet After Stake Purchase
- VLA FP : Valneva FY Revenue Meets Estimates