The yen reversed gains after the Bank of Japan kept its policy rate unchanged and persisted with the world’s last negative-rate regime. The Japan’s currency fell 0.4% to the weakest level in almost a week, while the Nikkei 225 Index rallied as much as 1.3% to the highest level in two weeks. Shares fell in Hong Kong and mainland China as weakness among developers continues to weigh on investor sentiment. BOJ officials maintained the policy rate at -0.1%, but offered no guidance whether they would keep scrap the policy next week. Speculation had been mounting that the central bank might hike rates, with April seen as the most likely option for the move, according to a Bloomberg survey. Traders will parse Governor Kazuo Ueda’s words closely when he addresses the press later Tuesday for hints on the future policy path. The rally in dollar-yen and Japanese stocks may be short-lived as speculation over policy change will soon arise again approaching the BOJ’s January meeting, according to Naka Matsuzawa, chief strategist at Nomura Securities Co. In China, weakness among developers continues to weigh on the country’s struggling economic recovery. Country Garden Services Holdings Co. hit a record low after it said it set aside some funds as impairment. China South City Holdings Ltd. — partially owned by the southern city of Shenzhen — previously also warned it can’t pay interest due Wednesday, raising the risk of default.
US contracts were little changed after Wall Street extended its relentless rally Monday, buoyed by a burst of deals as traders largely ignored tempered messaging from Federal Reserve officials. The Nasdaq 100 extended gains to close at a record for the second consecutive session. Treasuries fell marginally in Asian trading, while a gauge for the dollar steadied. The rally in Treasuries took a breather Monday amid efforts by Fed officials to rein in expectations for earlier and deeper-than-expected rates cuts. The S&P 500 has enjoyed a seven-week bull run. Whether or not that will extend into an eighth week may be determined by near-term data readouts including durable goods orders, personal consumption expenditures — the Fed’s preferred measure of inflation — and the final third quarter gross domestic product estimate. Still, Chicago Fed President Austan Goolsbee and Cleveland Fed President Loretta Mester were the latest to join a growing chorus of central bank officials seeking to moderate market optimism on cuts after their New York counterpart John Williams last week said bets on a March reduction were premature. Oil traded near its highest close in two weeks as more companies shun the Red Sea after a spike in vessel attacks along the key shipping conduit. Gold ticked lower. US After Hours Relatively quiet session; HEI +2.3% up on earnings; CRM -0.2% inches lower on M&A news.
Nikkei +1.41% Hang Seng -1.05% CSI -0.45% Shanghai -0.55% Shenzen -0.57%
Eur$ 1.025 CNH 7.1486 CNY 7.1468 JPY 143.42 GBP 1.2659 CHF 0.8660 RUB 90.22 TRY 29.0685 WTI$ 72.37 Gold 2,025 BTC 42,920 +0.71% ETH 2,240 +1.13%
S&P -0.01% Nasdaq -0.10% EuroStoxx +0.15% FTSE +0.01% Dax +0.14% SMI +0.01%
Macro :
- European 2023 Car Sales May Climb 14%; 2024 BEV Growth to Slow
- Citi’s Montagu Sees Profit-Taking Risks for US, Europe Stocks
- Bond fund giant Pimco warns of ‘hard landing’ for UK economy
- Bond fund giant Pimco warns of ‘hard landing’ for UK economy
- Hindenburg’s Adani, Icahn Calls Mark Year of Prominent Bets
Keep an eye on :
Keep an eye on :
- ABI BB : AB InBev Sells Its Stake in Russian JV to Turkish Partner Efes
- ADBE US : Adobe Looks to AI, Buybacks With $6 Billion After Figma Breakup
- AAPL US : Apple Plans Rescue for $17 Billion Watch Business in Face of Ban
- ATT SS : Attendo Confirms Talks on Possible Acquisition With Team Olivia
- CADLR NO : Danish Offshore Wind Farm Installer Targets Push Into Asia
- 1COV GY : Adnoc Is Said Preparing to Increase Takeover Offer for Covestro
- DEC LN : Diversified Energy Co Falls as US House Democrats Open Probe
- DEQ GY : Deutsche Euroshop to Raise Special Dividend, Buy Back ~1% Shares
- DNO NO : DNO’s Tawke Gross Output Averaging 90,000 Barrels a Day in Dec.
- EDP PL : EDP Agrees to Sell €898m of 2024 Tariff Deficit to Tagus
- FACC AV : Kordsa Signs Deal to Produce Goods for Aerospace Company FACC
- RMS FP : Hermes Billionaire’s Charity Fights His Plan to Cut Inheritance
- ICAD FP : Icade to Announce New Strategic Plan on Feb. 19, 2024
- ILMN US : Icahn Is Said Ready to Launch Fight to Control Illumina’s Board
- IPH FP : Sanofi to License Innate Pharma’s Natural Killer Cell Engager
- LEON SW : Leonteq Buys 10% Stake in the Swiss Stock Exchange BX Swiss
- MAERSKB DC : Maersk to Implement ERS for Israel-Related Cargo
- CFR SW : Richemont's Woes Double as YNAP Sale Fails, Notes at Risk: React
- SAN FP : Sanofi to License Innate Pharma’s Natural Killer Cell Engager
- SCHA NO : Schibsted M&A Makeover Suggests Big-Buyback, EPS Scope: BI Focus
- ENR GY : Siemens Transfers 8% Stake in Siemens Energy to Pension Fund
- S92 GY : SMA Solar Says Short Seller’s Assertions ‘Completely Lack Merit’
- S92 GY : SMA Solar Says Short Seller’s Assertions ‘Completely Lack Merit’
- SW FP : Sodexo Plans to List Pluxee on Feb. 1, 2024
- SPWR US : *SUNPOWER SINKS 31% IN BIGGEST 0NE-DAY DROP SINCE NOVEMBER 2008
- UBSG SW : Cevian Capital takes 1.3% stake in UBS for €1.2 billion
- VOD LN : Vodafone Has Decent Exit Potential With Opportunistic Iliad M&A
- X US : Nippon Steel/US Steel Deal Includes Termination Fee of $565m