Asian stocks pulled back after a five-day rally that pushed a regional gauge into overbought territory, as investors turned cautious amid increasing trade tensions and geopolitical uncertainty. The MSCI Asia Pacific Index edged lower with stocks in Hong Kong and Japan declining after President Donald Trump threatened to impose more tariffs of around 25%. Semiconductor shares advanced in China while equity index futures for Europe pointed to a lower open. A gauge of dollar strength and Treasuries were little changed ahead of the release of minutes of the Federal Reserve’s last meeting. While investors remain cautious on the tariff front and talks to end the war in Ukraine, much of the focus in Asia is on whether a $1 trillion rally in Chinese stocks will be sustained. Advances in artificial intelligence by DeepSeek and President Xi Jinping’s meeting with tech companies, including Alibaba Group co-founder Jack Ma, have encouraged investors. Chinese mainland investors bought HK$22.4 billion ($2.9 billion) of the city’s stocks on Tuesday. The inflow Tuesday from mainland China to Hong Kong was the biggest daily purchase since early 2021 and the fourth largest on record, according to Bloomberg-compiled data going back to late 2016, when trading links with the financial hub began. Shares in Baidu Inc. declined as much as 7.3% in Hong Kong after the company announced a drop in revenue. The weakness in internet companies came after Baidu’s forecast raised concerns about capital expenditure, said Ken Wong, an Asian equity portfolio specialist at Eastspring Investments. Investors are concerned “that Chinese internet companies are not seeing the growth prospects this year and hence not raising CAPEX,” he said. In corporate news, HSBC Holdings Plc said it expects $1.8 billion in costs over the next two years as it embarks on a global restructuring program that has seen the lender shutter some of its businesses and slash management ranks. National Australia Bank Ltd.’s shares slid as much as 8.6% after first quarter earnings declined. On tariffs, Trump’s announcement of new duties are expected to come as soon as April 2. His previously announced 25% tariffs on steel and aluminum are set to come in March. Tuesday’s comments are his most detailed yet in specifying other sectors that would be hit with fresh barriers. Shares of Toyota Motor Corp. and Honda Motor Co. declined after Trump’s comments. Japan’s exports rose at a faster clip. The yen strengthened after a drop in the previous session. On the geopolitical front, officials from the US and Russia met for a first round of talks over the war in Ukraine and raised the possibility of broader cooperation. Secretary of State Marco Rubio told European allies that the US will keep sanctions on Russia in place at least until a deal to end the Ukraine conflict is reached. In the US, Federal Reserve Bank of San Francisco President Mary Daly said policy needs to remain restrictive until there’s more progress on inflation, which she expects will continue declining over time. Investors are awaiting the minutes from the Federal Open Market Committe’s meeting, which offers investors clues on the the outlook for interest rates. In other markets, oil held advances on the possible postponement of OPEC+ supply increases and uncertainty around flows from Russia. Gold fluctuated and traded close to a new record high. US After Hours ANDE +13.6% and COMP +7.8% soaring on earnings; BMBL -19.1%, CE -13.7% pulling back on earnings; HHH -5.1% down following Pershing Square's revised proposal.
Nikkei -0.27% Hang Seng -0.54% CSI +0.62% Shanghai +0.71% Shenzen +1.77%
Eur$ 1.0455 CNH 7.2822 CNY 7.2811 JPY 151.64 GBP 1.2622 CHF 0.9027 RUB 91.3895 TRY 36.3000 WTI$ 72.08 +0.31% Gold 2,935 -0.05% BTC 95,320 +0.33% ETH 2,688 +1.39%
S&P +0.10% Nasdaq +0.15% EuroStoxx -0.09% FTSE +0.02% Dax +0.02% SMI +0.02%
Macro :
- Trump Floats 25% Tariffs on US Auto, Drug, Chip Imports
- Rubio Says Sanctions to Stay for Now as Trump Eyes Putin Summit
Keep an eye on :
- ADP FP : ADP Says Philippe Pascal Appointed Chairman and CEO
Keep an eye on :
- ADP FP : ADP Says Philippe Pascal Appointed Chairman and CEO
- AED BB : Aedifica FY EPRA EPS Beats Estimates
- AGS BB : BNP Paribas Stake in Ageas Rises to 15.07%
- AGS BB : BNP Paribas Stake in Ageas Rises to 15.07%
- AIR FP : Saudi’s Flyadeal to Firm Up Airbus Widebody Jet Order Next Month
- AKELD SS : Akelius Apartments Bids for Akelius Residential Property D Shrs
- AKZA NA : Akzo Nobel May Sell India Paints Business for Up to $1.7b: Mint
- ALKB DC : ALK-Abello Sees 2025 Revenue in Constant Currency +9% to +13%
- ALSN SW : Also, Westcoast Get Clearance for Strategic Partnership
- ASR NA : ASR Nederland FY Operating Profit Beats Estimates
- BIDU US : Baidu’s Revenue Slides After Chinese AI Rivalry Heats Up (2)
- BB FP : BIC Sees 2025 Net Sales Ex-FX +4% to +6%
- BMW GY : Porsche, BMW Need Germany Pivot for Way Out of Crisis
- BP/ LN : BP Is Said to Weigh Sale of Lubricants Unit With Elliott Pushing
- BP/ LN : BP Considers Selling Lubricants Business in $10 Billion Deal, Bloomberg Says, Citing Sources
- BP/ LN : Investors Ask BP to Let Shareholders Vote on Climate Plan: FT
- CE US : Celanese 4Q Adjusted EPS Beats Estimates, Celanese Sees 1Q EPS 25c-50c; 4Q Net Sales Meet Estimates: -14% in After Hours
- COL SM : Colonial, SFL Set Their Merger Exchange Ratio at 13:1
- DWS GY : Ardian in Talks for DWS, Infravia Stakes in Save: Repubblica
- EFGN SW : EFG International FY Dividend per Share CHF0.60
- ENGI FP : Engie to Divest Gas Assets in Kuwait, Bahrain
- GLEN LN : Glencore FY Revenue Meets Estimates
- HPQ US : HP to Acquire Most of Startup Humane’s Assets for $116 Million
- HSBA LN : HSBC Posts Quarterly Net Profit, Plans $2 Billion Share Buyback
- ICAD FP : Icade 2025 Group NCCF/Shr Forecast Beats Estimates
- INTC US : Silver Lake in talks to buy majority stake in Intel’s Altera unit
- INTEGB SS : Integrum Offers SEK30 million Class B Shares via Carnegie, Integrum Offering of 1.94m Shares Prices at SEK16/Share
- DEC FP : JCDecaux Wins 10-Year Ad Concession for Dammam Airports
- MEKKO FH : Marimekko 4Q Adjusted EPS Beats Estimates
- MEDCL FP : MedinCell Offers About 10% of Company Shares
- MSTR US : Saylor’s Strategy to Raise Another $2 Billion for Bitcoin
- MTX GY : MTU Aero 4Q Adjusted Ebit Beats Estimates
- NEX FP : 2024: A record-breaking performance paving the way for 2025-2028 strategic roadmap
- NVDA US : Nvidia-Backed Robotics Startup Field Targets $2 Billion Valuation
- ONTEX BB : Ontex 4Q Adjusted Ebitda Margin Misses Estimates
- PFE US : Pfizer Vulnerable to Threat of European Tariffs, CEO Bourla Says
- PHIA NA : Philips 4Q Adjusted Ebita Misses Estimates , Philips Order Intake Returns to Growth as Recall Woes Fade
- P911 GY : Porsche, BMW Need Germany Pivot for Way Out of Crisis
- REC SM : Recordati Holder Rossini Sarl Offers About 10.5m Shares, Recordati Offering by Holder Prices at EU55.70/Share
- RIO LN : Rio Tinto’s Lithium Expansion Likely Drove Growth: Preview
- SFQ GY : SAF-Holland SE Prelim FY Adjusted Ebit About EU190M
- SAN SM : Santander to Invest Over $2B in Mexico Over Three Years: Botin
- SANFP : Sanofi, CD&R Sign Opella Share Purchase Agreement
- SHOT SS : Scandic 4Q Net Sales Meet Estimates
- SESG FP : SES Sees FY Adj. Ebitda Above EU950M to EU1.00B, Est. EU998.7M
- SWON SW : SoftwareONE Sees 2025 Revenue at Constant Currency +2% to +4%
- STMN SW : Straumann FY Ebitda Misses Estimates
- TEF SM : Telefonica Aims to Sell Uruguay Business, El Economista Reports
- TEMN SW : Temenos Sees 2025 Non-IFRS Ebit at Least +5%
- TSLA US : Musk’s X Is in Talks to Raise Money at a $44 Billion Valuation
- TGS NO : TGS Launches New Multiclient Project in Barents Sea
- VCT FP : Vicat FY Ebitda Beats Estimates
- VPK NA : Vopak FY Adjusted Ebitda Meets Estimates, Vopak to Launch EUR100 Million Share Buyback Program