Asian equities dropped with Chinese shares leading declines due to slowing economic data and the threat of higher US tariffs. China’s benchmark stock gauge began the new year with losses after reports showed the nation’s manufacturing activity cooled in December. MSCI’s gauge of Asian shares headed for its lowest close in almost two weeks. Financial markets in Japan remain closed until next Monday. The declines in Asian equities came after the S&P 500 and Nasdaq 100 indexes both fell for a fourth day Tuesday in a year-end retreat that shaved more than a trillion dollars from US large-cap market values. The dollar weakened against most of its major peers Thursday, while Treasury futures were little changed. The risk-off sentiment reflects caution in what is the first trading day of the year for many markets around the world as geopolitical tensions simmer and traders begin to execute asset allocation strategies for 2025. China’s growth outlook, the Federal Reserve’s policy path and US President-elect Donald Trump’s agenda are on investors’ radar. Oil edged higher after an industry report signaled US crude stockpiles continued to shrink. A report from the American Petroleum Institute showed inventories fell by 1.4 million barrels last week, which would be a sixth straight drop. Gold rose. China’s economy is expected to have expanded around 5% for the full year of 2024, President Xi Jinping said at a new-year event Tuesday. The nation’s sovereign bond yields dropped to a new record low after the central bank said it stepped up liquidity support for the economy. The nation’s banks stocks declined as the shares traded after adjusting for dividends.
Alibaba Group Holding Ltd. agreed to sell its shares in Sun Art Retail Group Ltd. to private equity firm DCP Capital, unloading a high-profile physical commerce asset to focus on its core online business. China’s BYD Co. reported a year-end surge to push total sales to 4.25 million passenger cars last year. The Indonesian rupiah slumped nearly 1% after President Prabowo Subianto’s surprise decision to scale back a tax hike, prompting the finance minister to talk down concerns over the country’s fiscal health. Meanwhile, an attack on revelers celebrating New Year’s in New Orleans thrust US domestic security back into the spotlight less than a month before Trump is sworn in as president.
Nikkei Closed Hang Seng -1.98% CSI -2.54% Shanghai -2.28% Shenzen -2.14%
Eur$ 1.0362 CNH 7.3175 CNY 7.2993 JPY 157.16 GBP 1.2531 CHF 0.9052 RUB 113.5092 TRY 35.3704 WTI$ 71.92 +0.25% Gold 2,632 +0.30% BTC 95,324 +0.58% ETH 3,400 +1.15%
S&P +0.52% Nasdaq +0.73% EuroStoxx +0.66% FTSE +0.06% Dax +0.11% SMI closed
Macro :
- China Yields Dive as New Year Begins With Old Woes: Macro Squawk
- ECB Hopes to Hit 2% Inflation Target in 2025, Lagarde Says
- ECB Hopes to Hit 2% Inflation Target in 2025, Lagarde Says
- Abu Dhabi’s Mubadala Eclipses Saudi PIF With $29 Billion Deals
- Moldova’s Transnistria Cuts Off Gas on Russian Supply Halt: IFX
- Cybertruck Blast By Trump Vegas Hotel Probed for Terrorist Link
Keep an eye on :
Keep an eye on :
- BABA US : Alibaba to Sell Sun Art to Buyout Firm DCP for $1.6 Billion (1)
- Azimut Boat : Paolo Vitelli, Founder of Italy’s Azimut Yachts, Dies at 77
- BP/ LN : BP’s Greater Tortue Project Offshore Senegal Starts Gas Output
- DBK GY : Deutsche Bank Targets Americas to Lift Fixed Income Business: FT
- EDP PL : EDP Signs Deal to Sell 49% Stake in US Solar, Storage Portfolio
- 13 HK : Shanghai Pharma Buys Health Firm Stake From Hutchmed for $136M
- INTRUM SS : Sweden’s Intrum Wins Chapter 11 Plan Confirmation in the US
- 1801 HK : Roche, Innovent Enter License Deal for Antibody-Drug Conjugate
- KOBOLD : Mining start-up backed by Bill Gates and Jeff Bezos valued at $2.96bn - FT
- KOS US : BP’s Greater Tortue Project Offshore Senegal Starts Gas Output
- NIO US : NIO Inc. Dec. Deliveries 31,138 Vs. 20,575 M/M
- NIO US : NIO Inc. Dec. Deliveries 31,138 Vs. 20,575 M/M
- REVB LN : Revolution Beauty Settles Dispute With Chrysalis Investments
- ROG SW : Roche, Innovent Enter License Deal for Antibody-Drug Conjugate
- X US : Nippon Steel Offers US Veto on US Steel Production Cuts: WaPo
- SCMN SW : Swisscom Cuts FY24 Ebitda Forecast On Vodafone Italia Closing
- TSLA US : BYD Chalks Up New Record as It Narrows EV Sales Gap With Tesla
- TSLA US : Musk Says Cybertruck Explosion Near Vegas Hotel Likely Terrorism
- UMG NA : Pershing Square PSVII Funds Distribute 2.6% of UMG Stock to LPs
- VWS DC : Vestas Books ‘Solid’ Order Intake in End-4Q Rally, Sydbank Says