Asian equities rose as investors digested China’s better-than-expected economic data and additional stock buyback program details from the country’s central bank. Shares in China and Hong Kong extended gains after the People’s Bank of China said it set up a relending mechanism with an initial 300 billion yuan ($42.1 billion) quota for bank loans used in share buybacks. Earlier, data also showed that the nation’s latest gross domestic product, industrial production and retail sales figures beat estimates. An Asian stocks gauge was on track for its first daily advance since last week, partially fueled by chipmakers’ gains following Taiwan Semiconductor Manufacturing Co.’s robust earnings. Shares of the Taiwanese chipmaker jumped as much as 6.3% in opening trade. Shares in Japan also climbed, helped along by a weaker yen. The PBOC is focusing on “cutting the cost of financing for the real economy so that it can help corporates and households to start leveraging again” and to deliver more liquidity support, Peiqian Liu, Asia economist at Fidelity International, told Bloomberg TV. US futures were flat after the S&P 500 retreated from an intraday record Thursday to end the session little changed. Treasuries steadied after heavy selling on Thursday, when new signs of vigor in the US economy led traders to trim expectations for rate cuts. An index of dollar strength rose for a fourth session to a level not seen since early August. Australian and New Zealand yields climbed in early Friday trading, tracking the moves. Elsewhere in Asia, headline inflation in Japan rose 2.5% as expected. The yen was moderately stronger after passing the psychological level of 150 per dollar Thursday, bringing the risk of official intervention back into focus. China’s data release Friday included a showing that the pace of home price decline slowed last month, suggesting that Beijing’s supportive measures are taking effect. Investors also focused on PBOC’s relending mechanism, which comes with a rate of 1.75% for one year maturity, according to the central bank statement. With the US economy humming along, swaps traders further reduced bets on Federal Reserve rate cuts in the remaining two meetings of the year. The shift in forecasts reflected robust US retail sales in September that exceeded expectations, illustrating resilient consumer spending that continues to power the economy. The data followed a blowout jobs report and a hotter-than-estimated consumer inflation print released earlier this month that only reinforced the view the US is nowhere near a recession. A string of stronger-than-estimated data points sent the US version of Citigroup’s Economic Surprise Index to the highest since April. The gauge measures the difference between actual releases and analyst expectations. In commodities, gold climbed to a fresh record amid ongoing tensions in the Middle East, while West Texas Intermediate, the US crude price, edged higher to trade around at almost $71 per dollar. US After Hours NFLX +4.8% higher on upside earnings; ISRG +5.8% also up on earnings; MGPI -17.2% falls on weak guidance.
Nikkei +0.23% Hang Seng +2.25% CSI +2.58% Shanghai +2.06% Shenzen +3.28%
Eur$ 1.0835 CNH 7.1308 CNY 7.1196 JPY 149.92 GBP 1.3021 CHF 0.8657 RUB 97.3688 TRY 34.2062 WTI$ 70.94 +0.38% Gold 2,710 +.64% BTC 67,692 +1.12% ETH 2,613 +0.63%
S&P -0.02% Nasdaq +0.10% EuroStoxx -0.08% FTSE -0.28% Dax -0.14% SMI -0.09%
Macro :
- France to Detail Offshore Wind Development Areas on Friday
- Strategist Who Called China Stock Rally Sees Room for More Gains
- EU’s Green Shift Under Threat as the Hit to Consumers Gets Real
- Europe unlikely to push for return of Ukrainian refugees, says immigration expert
- Taiwan president says defence of island's sovereignty 'will not change'
Keep an eye on :
Keep an eye on :
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- AAPL US : Apple iPhone 16 Sales Soar 20% in China Debut as Demand Recovers
- AZA SS : Avanza 3Q Operating Income Beats Estimates
- BAS GY : BASF Says Pantolactone Leaked Into Rhine, No Danger to Humans
- BAS GY : BASF Says Pantolactone Leaked Into Rhine, No Danger to Humans
- BHC CN : Bausch Health Falls on Report It Rejected Bondholder Debt Offers
- BFIT NA : Basic-Fit 9M Revenue Meets Estimates
- BA/ LN : Nurol Signs Deal to Acquire Rest of FNSS From BAE Systems
- BA US : Boeing’s Multi-Billion Dollar Offering Waiting on SEC Nod
- BP/ LN : BP Weighs Sale of Minority Stake in Offshore Wind Unit: Reuters
- BC IM : Brunello Cucinelli 9M Revenue EU920.2M Vs. EU818.4M Y/y
- CARM FP : Carmila 9M Net Rental Income EU274.3M Vs. EU258.3M Y/y
- COTN SW : Comet Sees FY Sales Low End of CHF440M to CHF480M (1)
- DOM SS : Dometic to Take SEK2b Non-Cash Goodwill Impairment in 3Q
- DSV DC : Third Point takes new stake in DSV A/S in Q3, discusses Cinemark position - Q3 letter
- EDP PL : EDP 9-Month Electricity Production Rose 4% Y/y: Provisional
- EDPR PL : EDP Renovaveis Says 9-Month Electricity Generation Rises 5% Y/y
- ELISA FH : Elisa 3Q Comparable Ebitda Meets Estimates
- EQT SS : EQT Is Unfazed by Private Credit Craze Even as Rivals Pile In
- EL FP : EssilorLuxottica Sales Slightly Miss on Worsening China Market
- FDJ FP : FDJ 3Q Revenue Meets Estimates
- GETIB SS : Getinge 3Q Net Sales Misses Estimates
- GLEN LN : Metals trader IXM bids to become China’s answer to Glencore
- INTC US : Intel seeks billions for minority stake in Altera business, sources say
- INTRUM SS : Sweden’s Intrum Plans to File for Chapter 11 in US
- KCR FH : Konecranes Buys Peinemann Port Services, Container Handling
- MMB FP : Lagardere 3Q Like-for-Like Sales +7.4%
- MC FP : LVMH Shows How FX Swings Threaten Profits: Earnings Watch
- MRK GY : Merck’s Clesrovimab Meets Endpoints in Phase2b/3 Trial
- NFLX US : Netflix Gains on Subscriber Beat, Positive Guide: Street Wrap
- NOKIA FH : Nokia Appoints Ex-Finnish Ambassador to US as Government Officer
- NDA FH : Nordea CEO Ready to Grow in Denmark Through Acquisitions: Borsen
- NORION SS : Norion Bank 3Q Operating Profit Beats Estimates
- NSKOG NO : Norske Skog 3Q Ebitda NOK91M Vs. NOK327M Y/y
- RBI AV : Raiffeisen Bank Revises NII Following Accounting Change
- RUI FP : Rubis: Rubis Closes Sale of 55% Stake in Rubis Terminal
- SAN FP : Sanofi ‘Surprised’ By Revised Offer for Consumer Health Unit
- TFI FP : TF1 Signs Pact With French Film Industry Organizations
- VIRP FP : Virbac 3Q Revenue EU339.2M Vs. EU314.8M Y/y
- VOLVB SS : Volvo 3Q Net Sales Misses Estimates, Volvo Earnings Decline on Waning Freight, Construction Demand
- WDP BB : WDP 9M Adjusted EPS EU1.09 Vs. EU1.06 Y/y
- YIT FH : Finnish Construction Group YIT to Build Apartment Building in Finland