Asian shares advanced with US and European futures as lower Treasury yields bolstered the appeal of holding equities. Traders are watching for any further news around President-elect Donald Trump’s planned administration. MSCI’s gauge of Asian stocks climbed as much as 1.2% as benchmarks rose in Japan, Australia and South Korea. Bloomberg’s gauge of the dollar headed for a third day of losses as the so-called Trump trade that had bolstered the greenback and pushed up US yields has at least temporarily lost momentum. The gains in US stock futures suggest American equities can extend their rally after the S&P 500 and Nasdaq 100 both closed higher Monday. The Nasdaq 100 outperformed in US trading, with Tesla Inc. jumping 5.6% on a news report that Trump’s transition team is seeking to ease federal framework for fully self-driving vehicles. Treasury 10-year yields slipped one basis point to 4.41% in Asia after dropping three basis points in the US. The yield has come down from as high as 4.50% last week. Trump’s transition team is considering pairing Kevin Warsh, a former Federal Reserve official, in the Treasury secretary role, with hedge fund manager Scott Bessent as director of the White House’s National Economic Council, according to people familiar with the matter. Chinese shares bucked the trend, with the CSI 300 Index dropping as much as 1.4%. The mainland benchmark is heading for a fourth day of losses amid concern over potentially higher tariffs on Chinese exports under a Trump administration. The yen strengthened versus all its Group-of-10 peers, paring some of its recent weakness. Japanese Finance Minister Katsunobu Kato said there was no change in the government’s stance on taking appropriate measures against excessive currency movements. The Australian dollar held near a one-week high after central bank minutes showed policymakers thought their current settings were appropriate to try to pull down core inflation that is still “too high.” In corporate news, Xiaomi Corp. shares reversed earlier gains to drop as much as 4.5% in Hong Kong, as investors took profit after the company’s profit beat expectations and its co-founder raised his targets on electric vehicles. The S&P 500 rose 0.4% on Monday, while the Nasdaq 100 climbed 0.7%. The S&P 500 will advance through the end of next year to reach 6,500 by December 2025 amid continued US economic expansion and earnings growth, according to Goldman Sachs Group Inc.’s chief equity strategist David Kostin. Bitcoin extended its gains after rising above $91,000 Monday. The crypto currency is back in the vicinity of an all-time high, supported by salvo of developments highlighting the deepening embrace of the digital-asset industry in the US under crypto cheerleader Donald Trump. Oil steadied in Asia after the biggest gain in more than five weeks as the dollar weakened and a risk-on tone swept across wider markets. Brent traded above $73 a barrel after surging 3.2% on Monday, while West Texas Intermediate was near $69. Gold extended gains as Goldman Sachs reiterated a forecast for prices to reach $3,000 an ounce next year. US After Hours SYM +23.8% soaring on earnings; SMCI +26% spiking after engaging independent auditor; GOOG -0.5% creeping lower after DOJ pushes firm to sell Chrome, according to Bloomberg.
Nikkei +0.51% Hang Seng +0.63% CSI +0.61% Shanghai +0.53% Shenzen +1.97%
Eur$ 1.0592 CNH 7.2361 CNY 7.2345 JPY 154.46 GBP 1.2677 CHF 0.8834 RUB 99.8004 TRY 34.6060 WTI$ 69.22 +0.10% Gold 2,625 0.51% BTC 91,900 +0.59% ETH 3,129 -0.66%
S&P +0.12% Nasdaq +0.19% EuroStoxx +0.27% FTSE +0.45% Dax +0.15% SMI +0.07%
Macro :
- Goldman Sachs’ Kostin Sees S&P 500 Reaching 6,500 by End of 2025
- Bitcoin Gets Another Fillip From US’s Growing Embrace of Crypto
Keep an eye on :
Keep an eye on :
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- SPIE FP : SPIE Holder Lac1 Offers 4.2m Shares, Terms Show
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