Asian stocks climbed, led by Japanese shares, as investors awaited policy decisions from Japan and the US this week for near-term trading cues. The MSCI Asia Pacific Index advanced, lifted by a rally in Japan with the tech-heavy Nikkei 225 index jumping the most in more than a month. China’s mainland equities also rose as the nation reported better-than-expected factory output and fixed-asset investment growth. US equity futures nudged higher after the S&P 500 fell 0.7% on Friday. Some 90% of Bank of Japan watchers expect authorities to scrap their negative-rate policy on Tuesday. Speculation of a move has increased after Japan’s largest union group announced the strongest wage deals in more than three decades. The yen traded weaker against the dollar. In China, equities rallied on surprisingly strong economic numbers, which added to evidence of more traction for the world’s second-largest economy. The data, however, is unlikely to push the yuan out of its recent tight range as the currency is torn between China’s central bank and the upcoming Federal Reserve policy meeting, according to Commonwealth Bank of Australia. “A potentially hawkish FOMC meeting can place upward pressure on dollar-offshore yuan” this week, CBA strategists led by Joseph Capurso wrote in a note to clients. But that “will likely be capped by the People’s Bank of China’s continued onshore yuan support at the daily fix.” The Fed’s policy meeting Wednesday may dictate the direction of global stocks for the next quarter. Prior to the blackout period, Chairman Jerome Powell indicated the central bank was close to having the confidence to cut, while others debated how deep, or shallow, those declines will be.
Bond traders, meanwhile, appear to have painfully surrendered to a higher-for-longer reality. Yields on policy sensitive two-year Treasuries have climbed 11 basis points this month to 4.73%, extending last month’s gain. Swaps traders are pricing about 71 basis points of rate cuts by year-end, down from 134 basis points at the start of the year, according to data compiled by Bloomberg. Meanwhile, several of Adani Group’s dollar bonds fell the most in more than half a year, after news that US prosecutors have widened their probe of the port-to-power conglomerate to focus on whether it may have engaged in bribery. Elsewhere this week, the Reserve Bank of Australia is set to extend its rate pause while Bank Indonesia and the Bank of England also deliver policy decisions. Eurozone inflation data is due as well as Reddit Inc.’s initial public offering. In commodities, oil ticked higher following the biggest weekly advance in a month as macro-economic data from China came in ahead of expectations, and Ukrainian attacks on Russian refineries heightened geopolitical risks. Gold edged lower while iron ore fell below $100 a ton in Singapore to its lowest level since last May.
Nikkei +2.67% Hang Seng +0.24% CSI +0.86% Shanghai +0.89% Shenzen +1.47%
Eur$ 1.0888 CNH 7.2045 CNY 7.1975 JPY 149.13 GBP 1.2732 CHF 0.8835 RUB 92.5250 TRY 32.2996 WTI$ 81.38 +0.42% Gold 2,147 -0.40% BTC 68;803 +0.76% ETH 3,637 +0.14%
S&P +0.30% Nasdaq +0.56% EuroStoxx +0.12% FTSE +0.16% Dax +0.20% SMI +0.07%
Macro :
- JPMorgan’s Matejka Closes Preference for US Stocks Over Europe
- Some Adani Dollar Bonds Fall Most in Over Six Months on US Probe
- Hedge Funds Boost Bets Against Franc Ahead of SNB Meeting: CFTC
- Hedge Funds Boost Bets Against Franc Ahead of SNB Meeting: CFTC
- Brevan Howard Cuts About 10% of Traders Amid Hedge Fund Losses
- EU Must Reduce Russian LNG Imports This Year, Energy Chief Says
- China Pledges More Support for Its New-Energy Vehicle Industry
Keep an eye on :
Keep an eye on :
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- FINGB SS : Fingerprint to Issue New Shares to Pay Convertible Installment
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- LCLEAN SS : Lifeclean International Offers SEK15 million Shares
- LOGN SW : Logitech CFO Charles Boynton to Step Down
- META US : US Is Investigating Meta for Role in Sale of Drugs, WSJ Says
- MBTN SW : Meyer Burger Sets CHF0.01/Shr Subscription Price in Rights Issue
- NXI FP : Nexity Shares Jump After Betaville Issues ‘Uncooked Alert’
- NRG US : NRG Energy Rises After Betaville Report on Takeover Interest
- NVDA US : Nvidia Rally Extends to a Record-Setting 10th Straight Week
- OPTN US : XHANCE Approved by FDA as First and Only Medication Indicated for Treatment of Adults with Chronic Rhinosinusitis without Nasal --> +35% in after Hours
- PGHN SW : Partners Group Joins Rivals in Pushing Into Royalties Investing
- PLTR US : Thiel Unloads $175 Million of Palantir in First Sale Since 2021
- PKTM AV : Pierer Mobility Raises MV Agusta Stake to Above 50%
- PPGN SW : Polypeptide: Newtyn Management, LLC détient une part de 3,009%
- RDDT US IPO : FTC Probes Reddit’s Plan to License User Content to AI Firms
- RDDT US : IPO : Reddit’s IPO as Much as Five Times Oversubscribed, Reuters Says
- SHCO US : Soho House Draws Members Even as Club Continues to Lose Money
- TEN IM : Tenaris Bought $14.7M in Shares in Buyback Program 2nd Tranche
- HO FP : Thales Partners With Aramco’s Cyberani on Saudi Cybersecurity
- 700 HK : Tencent’s Payment Unit Wins OK to Ramp Up Capital to $2 Billion
- HO FP : Bulgaria Picks Thales for Talks on 3D Radars Purchase
- TTE FP : TotalEnergies Preparing Port Arthur, Texas FCC for Restart: Rtrs
- UBSG SW : Credit Suisse Saga Leaves Gaps in Swiss Fortress: Paul J. Davies
- VLA FP : Valneva Gets 18-Month Extension of Interest-Only Period of Loan
- VOW GY : Hertz’s CEO to Step Down as Car Renter Unwinds Bet on EVs