Asian stocks retreated from a near-record level as Japanese equities pulled back from their session highs after the central bank’s interest-rate decision. The MSCI Asia Pacific Index traded 0.2% lower. It had opened higher after the S&P 500, Nasdaq 100, Dow Jones Industrial Average and Russell 2000 small-cap index all closed together at fresh highs for the first time since November 2021. Japanese shares flipped and the Nikkei-225 Index traded 1.5% lower after the Bank of Japan kept its benchmark interest rate unchanged. The yen extended gains against the dollar. The country’s 2-year government bond yield rose to the highest since 2008. Worries have been mounting for weeks that the S&P 500’s push to record after record risks becoming a bubble, with the index’s swollen valuation cited most often as a cause for concern. Investors such as Amy Xie Patrick, head of income strategies at Pendal Group, said some investors are tending toward “herding” behavior and not making independent assessments of the markets. Critics point to the tech sector’s outsize influence on this year’s gain, with just five stocks, all megacap tech firms, driving about half of the advance. But a closer look shows tech giants have largely justified their elevated valuations with profit growth. In a sign of the euphoria sweeping financial markets, FedEx Corp. shares rallied 5% in after-hours trading even after it said it expects a $1 billion hit from trade volatility this year. Elsewhere, yield premiums on Asian dollar bonds, including investment-grade and junk-rated debt, tightened to an all-time low of just under 100 basis points on Thursday, a Bloomberg index with data stretching back to 2009 showed. In Japan, the central bank left its benchmark interest rate unchanged as it sought more clarity over lingering economic and political uncertainty, and announced that it will begin offloading exchange-traded funds. The BOJ stuck with its policy rate of 0.5% at the end of a two-day gathering in Tokyo Friday, according to its statement. The outcome on rates was expected by all 50 economists surveyed by Bloomberg. The vote on rates was 7 to 2. Investors will also be focusing on a phone call between President Donald Trump and his Chinese counterpart Xi Jinping later Friday. The conversation promises to determine the fate of TikTok — and potentially ease trade tensions between the world’s two biggest economies. Trump and Xi are due to speak at 9 a.m. Washington time, or 9 p.m. in Beijing, about a framework agreement unveiled this week to shift control of TikTok’s US operations from its Chinese parent ByteDance Ltd. to a consortium of American investors. US After Hours FDX +5.5% nicely higher on earnings, UPS +2.6% trades higher in sympathy; SCHL -11.5% sharply lower on earnings.
Nikkei -1.06% Hang Seng +0.12% CSI +0.33% Shanghai -0.03% Shenzen +0.00%
Eur$ 1.1774 CNH 7.1106 CNY 7.1118 JPY 14743 GBP 1.3545 CHF 0.7931 RUB 83.1997 TRY 41.3989 WTI$ 63.34 -0.36% Gold 3,659 +0.41% BTC 117,036 -0.43% ETH 4,557 -1%
S&P -0.04% Nasdaq -0.02% EuroStoxx +0.06% FTSE -0.04% Dax -0.01% SMI +0.15%
Macro :
- BOJ to Start Selling ETFs, Holds Rates Steady in Contested Vote
- Trump Threatens Licenses of TV Stations That Criticize Him
- EU Firms Face New Production Halts on China Rare Earth Delays
- MI6 Sets Up New Dark Web Portal to Recruit Spies for Britain
- US Again Vetoes UN Resolution on Gaza Ceasefire, Aid Release
- *UK BUDGET DEFICIT £18.0 BILLION IN AUG.
Keep an eye on :
Keep an eye on :
- ALLFG NA : Allfunds Shares Gain 7% After Betaville ‘Uncooked Alert’
- AAL LN : Teck Deal With Anglo Faces Indigenous Challenge on Smelter Plan
- AAPL US : Apple’s iPhone 17 Sales Open to Strong Demand for Pro Models
- Atletico de Madrid : Apollo in Exclusive Talks for Atletico de Madrid: Expansion
- CDON SS : Cdon Offering of 718,850 Shares Prices at SEK62.60/Share
- CRDA LN : Croda Shares Jump After US Investor Discloses Over 5% Stake
- EQT SS : EQT Starts Sale of GlobalConnect Unit, Taps Banker: FT
- EQT SS : EQT CEO Eyes Retail Clients as US Policy Opens Capital Pools: DI
- FDX US : FedEx Sees Sales Growth in Sign of Parcel Demand Rebound
- FME GY : Fresenius Invests EU312m, Closes Share Purchase W/ IWH Investors
- MB IM : Mediobanca Investors Tendered 64.7% Stake in Paschi Bid: Filing
- MRK US : *MERCK SAYS CDC VACCINE PANEL VOTE POSES RISK TO PUBLIC HEALTH
- NTSK US : *NETSKOPE SHARES RISE 18% IN TRADING DEBUT
- NOVOB DC : Novo Nordisk Cuts US Obesity Education Team: Reuters
- Posti Group IPO : Finland to Divest Posti Group Minority Stake in Helsinki Listing
- RIO LN : Rio Tinto to join corporate culling season by axing executives
- G24 GY : Scout24 to Buy Property Platforms Fotocasa, Habitaclia for €153m
- SIVE SS : Sivers Semiconductors Offers SEK90 million Shares, Sivers Semiconductors Offering Prices at SEK3.70/Share
- SMG SW : SMG Prices IPO at CHF46/Share, Starts Trading September 19, Mobiliar Reduces Stake in SMG From 29.3% to 19.3%
- 9984 JP : SoftBank Vision Fund Mulls 20% Job Cuts After Son’s Pivot to AI
- SPI LN : Spire Healthcare Confirms Working With Rothschild on Review
- STM GY : Stabilus Adopts Transformation Program for Competitiveness
- SAX GY : Stroeer Adjusts Outlook for FY25, Now On Par with FY24
- TASE IT : Tel Aviv Stock Exchange Offering Prices at 75.76 Shekels/Share
- TSLA US : China’s Brain Startups Take On Musk’s Neuralink in New Tech Race
- UPS US :
- VENDA NO : Vend Signs Pact to Sell Lendo to Clar in Deal Implying NOK1b EV
- DG FP : Vinci-Elecnor Consortium Wins €1.77B Rail Baltica Contract