Asian equities advanced, with tech shares in Hong Kong leading gains as investors grew more optimistic about a further easing in China’s Covid restrictions. A gauge of Chinese tech stocks jumped as much as 4.4% while the MSCI Asia Pacific Index headed for a third weekly gain. Goldman Sachs strategists upgraded Hong Kong stocks to market-weight on bets for a reopening of China’s economy. Stocks climbed in Japan, Australia as well as South Korea, suggesting little reaction to news that North Korea had launched a missile. Treasury yields were steady after the previous day’s jump when St. Louis Fed President James Bullard said policymakers should increase interest rates to at least 5% to 5.25% to curb inflation. He also warned of further financial stress ahead. The dollar slipped after rallying on Thursday. Oil was poised for a weekly loss as concerns over a worsening demand outlook filtered through the crude market. Yesterday, fresh data showing weekly jobless claims came in below the forecast further underscored the strength of the labor market. US mortgage rates posting their biggest weekly decline since 1981 briefly improved sentiment, even though Freddie Mac’s chief economist said there’s a long road ahead for the housing market. In Japan, inflation hit its fastest clip in 40 years in October. The outcome puts the Bank of Japan in an even more awkward position as it tries to explain the need to stick with monetary stimulus to pursue stable price growth. gold edged higher as the dollar dropped. Bitcoin was on course for a weekly gain even as the collapse of Sam Bankman-Fried’s FTX empire continues to rattle the crypto market. US After Hours CLFD +16%, ROST +13.8%, STNE +10.6%, GPS +8.2%, PANW +5.7%, AMAT +2.9% higher on earnings; FTCH -10%, WSM -9.3%, DLB -9% lower on earnings.
Nikkei -0.11% Hang Seng -0.58% CSI -0.41% Shanghai -0.56% Shenzen -0.52%
Eur$ 1.0365 CNH 7.1367 +0.35% CNY 7.1283 JPY 140 +0.21% GBP 1.1893 +0.47% CHF 0.9523 RUB 60.4525 TRY 18.60 WTI$ 82.42 +0.94% Gold 1,761.70 +0.08% BTC 16,817 +0.81% ETH 1,221 +1.28%
S&P -0.12% Nasdaq -0.06% EuroStoxx +0.52% FTSE +0.15% Dax +0.39% SMI
Macro :
- Musk to Be Invited to EU Parliament: Politico
- UK Oil Industry Says £80 Billion Tax Burden Will Hurt Investment
- FTX’s New Boss Reveals Chaos Left Behind by Bankman-Fried
- Here’s What Investors Touted at Sohn Australia Conference (2)
Keep an eye on :
- ANE SM : Acciona Energia Maintains in ‘Broad Terms’ Outlook for FY 2022
- AIR FP : Boeing Max 7 Unlikely to Be Certified by Dec. Deadline: FAA
- ASML NA : Munro Partners’ Griffin Tips ASML as Top Pick at Sohn Australia
- BAVA DC : Bavarian Nordic Signs Procurement Pact for Monkeypox Vaccine
- BEKB BB : Bekaert 9M Revenue EU4.34B Vs. EU3.56B Y/y
- BWO NO : BW Offshore 3Q Ebitda Meets Estimates
- EDR SM : Holiday Spending Showing Signs of Weakening, Trivago Chief Says
- EXO NA : Exor Jumps After Ideas Swap at Special Situations Conference
- FTCH US : Farfetch 3Q Revenue Misses Estimates --> -15% in After Hours
- FDJ FP : Perpetual’s Anthony Aboud Pitches FDJ at Sohn Australia
- FLOW NA : Flow Traders CFO Mike Kuehnel to Become CEO Effective Feb. 1
- FNAC FP : Fnac Darty to Repay £89.6M Related to Sale of Comet by Kesa
- GPS US : Gap 3Q Total Comparable Sales Beats Estimates --> +9% in After Hours
- HOLN SW : Holcim Group Names Nestle’s Steffen Kindler as CFO
- KARN SW : Kardex Cuts FY22 Ebit Margin Outlook; Will Sell Robomotive Stake
- KWS LN : FACT Capital’s Meng Tips Keywords Studios at Sohn Australia
- NYR BB : Nyrstar Says Appeals Court Rules Expert Probe ‘Not Justified’
- PQNW US : Palo Alto Networks 2Q Adjusted EPS Forecast Beats Estimates --> +5% in After Hours
- REVOLUT : Fintechs Still Pushing Crypto But Distancing Themselves From FTX
- SAN FP : Sanofi: EC Approves Enjaymo for Some Hemolytic Anemia Patients
- SGRE SM : Siemens Gamesa OK’s Siemens Energy Bid, Appoints New Chairman
- TEF SM : Telefonica Plans Broad Spanish Price Hikes in Bid to Boost Sales
- TIT IM : Telecom Italia Picks Ericsson for 5G Core Network: Sole
- VOW GY : German Labor Union Wins 8.5% Wage Hike to Counter Inflation
- WBD IM : Webuild Grouping Gets €441m Rail Contract in Romania
- MF FP : Wendel Said to Mull Sale of €2 Billion Packaging Firm Constantia
- ZURN SW : Zurich Insurance to Launch Previously-Announced Buyback Nov. 21