Asian stocks fell on concern policy decisions from major central banks this week will stay hawkish as inflation remains a threat. The rally in oil gathered pace, with Brent touching $95 per barrel. Shares in mainland China slipped on speculation the nation’s economic recovery is faltering. Equities also dropped in Japan and Australia, although the latter pared losses after central bank minutes showed a higher hurdle for further tightening. The Federal Reserve sets policy Wednesday, the Bank of England Thursday and the Bank of Japan Friday. Energy shares gained as both Brent and West Texas Intermediate climbed for a fourth day on the back of tightness in the physical market. Brent surpassed $95 per barrel for the first time since November. US and Hong Kong stock futures were little changed after the S&P 500 and Nasdaq 100 indexes both inched higher on Monday. Positive news from developers Country Garden Holdings Co. and Sunac China Holdings Ltd. failed to lift sentiment. Country Garden won bondholder approval on the last of a batch of eight local notes it sought to extend repayments, while Sunac secured creditors’ approval on its debt restructuring scheme. BlackRock Investment Institute cut its rating for emerging-market equities to neutral from overweight, saying China’s struggling property sector remains a drag on growth, while policy stimulus isn’t as large as in the past, strategists including Jean Boivin and Wei Li wrote in a research note. The dollar edged higher against most of its major peers, while Treasuries were little changed. The yuan weakened against the greenback. With the Fed forecast to keep interest rates on hold this week, traders will be focused on the so-called dot plot summary of economic forecasts. The two main questions are whether policymakers will retain their projections for one more 25 basis-point hike by year-end, and how much easing they are penciling in for 2024. In June, they projected one percentage point of cuts. US After Hours X +1.2% following upbeat Q3 guidance; NIO -5.5% on convertible notes offering, SFIX -2.3% after downbeat JulQ earnings results, SQ -2.2% on CEO departure.
Nikkei -1.08% Hang Seng -0.21% CSI -0.29% Shanghai -0.11% Shenzen -0.91%
Eur$ 1.0678 CNH 7.3039 CNY 7.2975 JPY 147.79 GBP 1.2375 CHF 0.8975 RUB 96.0175 TRY 27.0180 WTI$ 92.39 Gold 1,931 -0.14% BTC 26,834 +0.22% ETH 1,638 +0.03%
S&P -0.08% Nasdaq -0.14% EuroStoxx -0.14% FTSE +0.03% Dax -0.16% SMI -0.05%
Macro :
- JPMorgan’s Kolanovic Warns ‘Higher for Longer’ Is Risk to Stocks
- UK Inflation Expected to Tick Up, Complicating Talk of BOE Pause
- Oil Rally Gathers Pace as Brent Crude Powers Above $95 a Barrel
- ECB to Keep Rates at 4% as Long as Needed, Villeroy Says
Keep an eye on :
Keep an eye on :
- ACS SM : ACS Buys Remaining 22% Stake in Blueridge for $411 Million
- MT NA : U.S. Steel issues upside Q3 EPS guidance as each of company's segments are outperforming earlier estimates
- Areverne IPO : Arverne to Raise >€150M in Paris Listing: Le Figaro
- SAN SM : Santander Confirms Reporting Structure Changes, Reaffirms Goals
- Banca Progetto : Oaktree’s Banca Progetto Plans to List in Milan, Corriere Says
- BP/ LN : BP to Move on From Governance Scandal ‘Quickly’, Browne Says
- CABK SM : *LONE STAR, CAIXABANK SEEKS TO SELL SERVIHABITAT: CONFIDENCIAL
- CTPNV NA : CTP Secures €200M Loan From EIB for Solar Panel Installations
- DNO NO : DNO Makes Gas Condensate Discovery at Norma in North Sea
- EQT SS : Hotelbeds Interviews Banks for More Than $1.1B IPO: Reuters
- FGR FP : Eiffage, Enshore Subsea Sign $205M Senegal Power Cable Contract
- FGR FP : Eiffage, Enshore Subsea Sign $205M Senegal Power Cable Contract
- GAM SW : Niel Must Be Radical to Hire Hedgie Stars to GAM: Chris Hughes
- GLEN LN : Volcan Says Glencore-Linked Board Members Acted Against Company
- HLCL LN : Hotelbeds Interviews Banks for More Than $1.1B IPO: Reuters
- IBE SM : *IBERDROLA MULLS SELLING FURTHER 500 MW TO NORWAY'S NBIM: CINCO
- IRRAS SS : Irras to Hold EGM for IR Holding’s Set-Off Share Issue Proposal
- KION GY : Kion Holder Invesco Offers About 4m Shares: Terms
- MBG GY : Mercedes CEO Pushes for Open Markets in Worsening China Tension
- MSFT US : Microsoft AI Researchers Accidentally Exposed Big Cache of Data
- MS US : Morgan Stanley Sued for $750 Million by PE Firms Claiming Fraud
- NOVN SW : Sandoz Adds to Flurry of Big Pharma Spinoffs: ECM Watch
- PGS NO : PGS Offering of 45.8m Shares Prices at NOK9.60/Share
- RIO LN : Rio Tinto CEO Says Chinese Steel Demand Is Close to Peaking
- RWE GY : Netherlands to Pay RWE €331.8M for Coal Plant Limits (Sept. 18)
- SMCP FP : SMCP Cuts FY Sales, Adj. Ebit Margin Forecasts on China, Europe
- SOBI SS : Sobi Prelim Proceeds of About SEK6m From Rights Issue
- STLAM IM : Stellantis Least Affected of US Automakers by UAW Strike: React
- STERV FH : Stora Enso Names Hans Sohlstrom New President, CEO
- TEF SM : *CNMV FINDS NO IRREGUALRITY IN STC'S TELEFONICA PURCHASE: PAIS
- TGS NO : TGS Offering of Shares Prices at NOK152.50/Share
- TIETO FH : TietoEVRY Cuts FY Adjusted Operating Margin Forecast
- VAR NO : Var Energi Narrows Production Guidance, Raises Castberg Capex