Stocks in Asia rose for a fourth day, serving as a contrast to the US where a selloff continued. Gold rose to a new record. Shares in Japan and South Korea rose, while Chinese stocks were mixed. S&P 500 futures advanced after benchmarks slid on Tuesday. Investors have slashed holdings of US equities by the most on record while cash levels jumped, according to Bank of America Corp.’s latest survey. Uncertainty over President Donald Trump’s economic policies, particularly around trade and tariffs, has spurred fears of a recession, with traders seeking clarity from the Federal Reserve policy decision later Wednesday. Investors have also been hunting for opportunities elsewhere, with benchmarks in China and Japan rallying in recent weeks. The yen retreated against the dollar, though fluctuated earlier as the BOJ stood pat and said a virtuous cycle of wages and prices is intensifying, while keeping an eye on the global trade situation. Traders are turning their focus to Governor Kazuo Ueda’s press conference Wednesday afternoon. Separately, Japan’s exports rose at a faster pace as businesses increased orders ahead of the rollout of higher tariffs in the US. Indonesian stocks rebounded slightly after mass selloffs triggered circuit breakers and trading halts on Tuesday. The benchmark Jakarta Composite Index is up as much as 1.3%. Elsewhere in Asia, Chinese banks are slashing rates on consumer loans to record lows as policymakers ramp up stimulus to stabilize growth and counter US President Donald Trump’s tariffs. Still, China’s stock rally may face a “meaningful correction soon” given its similarities with the 2015 boom and bust cycle, according to strategists at BofA securities.
Shares of Xpeng Inc. declined as its volume guidance came in short of some analyst expectations, while tech firm Xiaomi Corp. fluctuated in Hong Kong after reporting its fastest revenue growth since 2021 on electric vehicles.
Earnings are expected later from the likes of Tencent Holdings Ltd., Anta Sports Products Ltd. and Muyuan Foods Co.
In commodities, oil slipped as broader market weakness and concerns about a global glut of crude overshadowed escalating tensions in the Middle East. Meanwhile, gold extended a record high above $3,030 an ounce. The Fed is expected to hold interest rates steady and its quarterly dot plot should give investors more insight into the outlook for the economy. Traders will also be focused on Fed Chair Jerome Powell’s press conference and his juggling act between communicating the central bank’s current view of the economy and weighing the potential impact of Trump’s trade policy. Options traders are pricing in a 1.2% move in the S&P 500 in either direction on Wednesday — up from an average of 0.8% for Fed days over the past year, according to data from Stuart Kaiser, Citigroup’s head of US equity trading strategy. US After Hours Lost of NVDA-related announcements from conference, led by SPIR +13.5%, ACN +3.1%, PSTG +2.9%; STNE +9.1% higher on earnings
Nikkei -0.25% Hang Seng -0.02%% CSI -0.13%% Shanghai -0.29% Shenzen -0.71%
Eur$ 1.0933 CNH 7.2387 CNY 7.2287 JPY 149.73 GBP 1.2986 CHF 0.8776 RUB 81.7142 TRY 36.7752 WTI$ 66.66 -0.36% Gold 3,38 +0.17% BTC 83,062 +1.27% ETH 1,937 +1,64%
S&P +0.11% Nasdaq +0.19% EuroStoxx -0.07% FTSE +0.05% Dax -0.18% SMI +0.18%
Macro :
- NASA Astronauts Back on Earth After Months Stuck in Space
- Turkey Detains President Erdogan’s Main Political Rival Imamoglu
- Putin Spurns a Ukraine Ceasefire But Trump Calls Talk a Win
Keep an eye on :
Keep an eye on :
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