Asia’s stocks fell to the lowest this year, crude oil sank and the dollar rallied as a weakening outlook for global growth jarred with Federal Reserve minutes indicating officials could start paring stimulus from later this year.
MSCI Inc.’s gauge of Asia Pacific shares dropped to the lowest since December with stocks in Hong Kong leading the slide. Equities also dropped in Japan and China. U.S. futures steadied after the S&P 500 and Nasdaq 100 retreated overnight. Most Fed officials agreed last month they could start slowing the pace of bond purchases later this year given the progress made toward inflation and employment goals.
A gauge of the dollar touched the highest since November 2020 amid the risk-off sentiment. Treasuries were little changed. Commodities like crude oil and iron ore slumped, highlighting demand risks from Covid-19. Commodity-linked currencies including the New Zealand and Canadian dollars dipped. A surprise rise in Australia’s employment helped its currency pare losses.
Shares in Alibaba Group Holding Ltd. slumped to a record low in Hong Kong, while in China, Tencent Holdings Ltd. reported its slowest pace of quarterly revenue growth since early 2019 and warned investors to brace for more regulatory curbs. Separately, government-backed investors will recapitalize China Huarong Asset Management Co., ending months of speculation over whether Beijing would deem the troubled financial giant too big to fail.
The global equity rally has paused as investors take stock of the likely timeline for a reduction in the Fed’s massive bond purchases as well as the challenges for economic reopening from the fast-spreading delta variant. The Jackson Hole symposium next week, the U.S. central bank’s most prominent annual conference, may provide further clues on the stimulus outlook.
US After Hours DLO +20%, BBWI +4.1%, SNPS +3.2%, NVDA +2.4% higher on earnings; HOOD -8.4%, RRGB -8.4%, VSCO -7.6%, CSCO -1.2% fall on earnings
Nikkei -0.74% Hang Seng -1.44% CSI -0.15% Shanghai -0.71% Shenzen +0.01%
Eur$ 1.1676 CNH 6.4981 CNY 6.4930 JPY 110.16 GBP 1.3721 CHF 0.9198 RUB 73.9475 TRY 8.4790 WTI$ 64.56 -1.37% Gold 1,778.50-0.54% BTC 44,150 -400 ETH 2985 -23
S&P -0.18% Nasdaq -0.24% EuroStoxx -0.86% FTSE -0.82% Dax -0.94% SMI -0.81%
Macro :
- Covid Vaccines Are Less Effective Against Delta in U.K. Study
Macro :
- Covid Vaccines Are Less Effective Against Delta in U.K. Study
- U.S. Investor Bull-Bear Spread -1.9: AAII
Keep an eye on :
Keep an eye on :
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- ANX LN : DBAY Advisors Does Not Intend to Make an Offer for Anexo Group
- ARYN SW : Aryzta Agrees to Divest Brazil Business, Signs New EU500M RCF
- AUSS NO : Austevoll Seafood 2Q Ebit Misses Estimates
- BAMNB NA : BAM 1H Revenue EU3.63B Vs. EU3.11B Y/y
- BCVN SW : BC Vaudoise Assets Under Management CHF110.2B
- BT/A LN : Federated Hermes to Pay BT Pension Scheme £116.5M for HFML Stake
- ACA FP : Stellantis, Credit Agricole Review Options for FCA Bank: Sole
- GOOS CN : Canada Goose Gains on Plan to Buy Back Up to 5.9 Million Shares
- COB LN : U.K. to Review Advent’s Ultra Takeover on Security Grounds
- DAI GY : Great Wall Agrees to Buy Daimler’s Iracemapolis Plant in Brazil
- DBK GY : Deutsche Bank Plans $1.2 Billion in Turkey ESG Deals This Year
- ELK NO : Elkem Issues NOK1.25b in New Senior Unsecured Bonds
- FLYR NO : Flyr Currently Operating 3 Aircraft on Norway Domestic Routes
- GEBN SW : Geberit 2Q Ebitda Beats Estimates
- GIVN SW : Givaudan Invests Another CHF75M in Extension to Mexico Facility
- GN DC : GN Store Nord 2Q Revenue Misses Estimates
- HLE GY : Hella FY Automotive Revenue Matches Estimates
- KIN BB : Kinepolis 1H Revenue EU36.8M Vs. EU112.6M Y/y
- KOJAMO FH : Kojamo Cuts FY Revenue Forecast
- LEAS BB : Leasinvest 1H EPRA EPS EU2.64 Vs. EU2.21 Y/y
- LSG NO : Leroy 2Q Adjusted Ebit Misses Estimates
- LSE LN : CME in $16B Bid for Chicago Exchange Rival CBOE, FT Says
- DRLCO DC : Maersk Drilling Gets 9-Month Contract for Jack-Up Rig
- MBTN SW : Meyer Burger 1H Sales CHF18.0M Vs. CHF51.0M Y/y
- NEL NO : Nel 2Q Ebitda Loss NOK120.3M, Est. Loss NOK87.5M
- NN NA : NN Group to Sell NN IP to Goldman Sachs for EU1.7B in Cash
- OLT NO : Olav Thon Issues NOK900m 4Y Fixed Rate Senior Unsecured bond
- ONCO SS : Oncopeptides 2Q Net Loss SEK24.1M Vs. Loss SEK401.0M Y/y
- RNK LN : Rank Group FY Net Gaming Revenue Misses Estimates
- RDW LN : says Persimmon, Taylor Wimpey mentioned as possible suitors - The Times
- HOOD US : Robinhood Extends Decline to 8% After Warning of 3Q Headwinds
- ROG SW : Roche Gets FDA Approval for Ventana MMR RXDX Panel
- RUI FP : Rubis Says Haiti Earthquake, Storm Have Limited Impact
- RUI FP : Rubis Says Haiti Earthquake, Storm Have Limited Impact
- SEM AV : Semperit 1H Revenue EU660.8M Vs. EU418.9M Y/y
- SHUR BB : Shurgard 1H Property Operating Revenue EU143.8M Vs. EU132.2M Y/y
- SFZN SW : Siegfried 1H Sales Miss Estimates
- SON PL : Sonae Completes Sale of 25% Stake in Sonae MC Unit
- STLA IM : Stellantis, Credit Agricole Review Options for FCA Bank: Sole
- ULE LN : U.K. to Review Advent’s Ultra Takeover on Security Grounds
- UQA AV : Uniqa 1H Pretax Profit EU215.7M Vs. EU55.4M Y/y
- VEI NO : Veidekke 2Q Net Income Beats Estimates