Shares in Asia slipped Friday after the MSCI All Country World Index finished November with its third-largest monthly gain in the past decade. The dollar edged lower. Chinese stocks opened down, sending a benchmark of mainland shares to its lowest level for the year. Equities in Australia and South Korea also fell, weighing on a gauge of Asian shares. Japanese benchmarks rose. US futures were also slightly lower after the S&P 500 climbed 0.4% Thursday, rising nearly 9% for the month to notch one of its best Novembers on record. The all-country gauge posted its best month since 2020. The US currency weakened against all its major peers as a measure of inflation eased, fueling bets on an end to the Federal Reserve tightening cycle, continuing the narrative which helped US and global stocks surge last month. Attention now turns to Chair Jerome Powell’s comments later Friday for more clues. The Bloomberg Dollar Spot Index fell Friday after rising in the previous two sessions. Still, the November rally caught many off guard — including Wall Street strategists, who as of mid-October expected the S&P 500 to end the year at 4,370. It closed Thursday at 4,567.80. Meanwhile, China’s Caixin manufacturing PMI data beat estimates to suggest an expansion in activity, easing concerns after data Thursday showed the recovery losing momentum. Korean exports — seen a bellwether for global trade due to its early release — rose more than expected in November. In a rare move, Alibaba Group Holding Ltd. received a downgrade from Wall Street on the same day it lost its crown as China’s most valuable e-commerce firm to one of its main rivals. Morgan Stanley cut its rating on Alibaba’s American depositary receipts to equal-weight from overweight, lowering its price target to $90 from $110. In Japan, Seven & i Holdings Co. rose the most since February 2022 after the nation’s largest retailer said it will buy back up to ¥110 billion ($748 million) of shares and conduct a 3-for-1 stock split. Treasuries were steady Friday after declining Thursday. The 10-year yield dropped about 60 basis points in November to 4.33%. Gold was on track for a third weekly gain. Crude prices fell even as the OPEC+ group of petroleum producing nations agreed to a supply cutback of about 900,000 barrels a day, in a sign traders are skeptical it will be implemented. US After Hours ESTC +15.1%, ULTA +11.3%, PATH +11%, PD +7.4% higher on earnings; DELL -3%, MRVL -2.6% lower on earnings.
Nikkei -0.17% Hang Seng -0.62% CSI -0.32% Shanghai +0.07% Shenzen +0.28%
Eur$ 1.0908 CNH 7.1472 CNY 7.1392 JPY 148.07 GBP 1.2642 CHF 0.8742 RUB 89.9068 TRY 28.9080 -0.18% WTI$ 75.95 Gold 2,041 +0.24% BTC 38,128 +1% ETH 2,092 +2.28%
S&P -0.09% Nasdaq -0.20% EuroStoxx +0.34% FTSE +0.52% Dax +0.27% SMI +0.31%
Macro
- Israel Resumes War Against Hamas in Gaza After Week-Long Truce
- OPEC+ ‘Voluntary’ Oil Output Cuts Fail to Convince Traders
- Tiger Global’s Biggest Venture Fund Has 18% Loss After Markdowns
- Brookfield Raises $28b for Infrastructure Fund: FT
Keep an eye on :
Keep an eye on :
- AF FP : Air France-KLM, Apollo Complete Quasi-Equity Financing
- AMBA US : Ambarella 3Q Revenue Beats Estimates
- ASML NA : ASML’s New Chief Is Stepping Into the Middle of a Trade War
- ASML NA : ASML’s New Chief Is Stepping Into the Middle of a Trade War
- BBVA SM : BBVA Required to Keep 2024 Minimum CET1 Ratio of 9.09%
- BC8 GY : Bechtle to Offer up to €300M Convertible Bonds
- BNP FP : BNP’s Fillion Expects Capital Allocation ‘Turning Point’ in 2025
- CAP FP : Capgemini Appoints Nive Bhagat CFO Effective Jan. 1
- CO FP : Casino Received Preliminary Indicative Offers for Markets
- CLNX SM : Cellnex Mandates Santander for €1.1 Bln Ireland Sale: Expansion
- CLNX SW : Vencora Offers to Buy Crealogix for CHF60 Net Per Share in Cash
- CFN PL : Cofina Estimates Capital Gain of €8m From Cofina Media Unit Sale
- CE IM : Credem Says ECB Set Minimum CET1 Ratio at 7.60% for 2024
- CTT PL : CTT Expects Proceeds of €36m From Real Estate Unit Stake Sale
- DELL US : Dell Technologies 4Q Revenue Forecast Misses Estimates (1)
- DIS US : Walt Disney Reinstates Dividend to 30 Cents/Share for 2H 2023
- 3333 HK : Evergrande Creditors Demand Controlling Stakes in New Proposal
- FRAS LN : Frasers Group Looks to Buy SportScheck Out of Administration
- ISP IM : Intesa Says It Meets Capital Requirement Set by ECB
- JEN GY : Jenoptik Raises 2025 Ebitda Margin Target to 21-22% From 20%
- LEON SW : Leonteq Sees Group Net Profit of CHF10-20M for FY 2023
- MSFT US : US Compels Saudi Fund to Exit AI Chip Startup Backed by Altman
- MOR GY : Morphosys Gains Amid ImmunoGen Deal; Shares Out on Loan High
- OXY US : Occidental Jet Visits Buffett’s Hometown Amid Potential Oil Deal
- PCG US : PG&E’s $2 Billion Convertible Bond Shows Revival in Full Swing
- PRUG FP : Peugeot Invest Says Exposure to Signa Is 2.9% of Gross Assets
- PRY IM : Prysmian Signs Contract Worth Around €850m With EGL1
- RNO FP : France November New Car Registrations Rise 14%: PFA
- SAB SM : Sabadell Required to Keep Minimum CET1 Phased-in 8.93% for 2024
- SKFB SS : SKF to Close Bearing Manufacturing Site at Busan in South Korea
- SLIGR NA : Sligro, Euser to Take Over Parts of Activities From Simon Loos
- SOI FP : Soitec Offering by Holder Prices at €163.1 per Share
- STLAM FP : France November New Car Registrations Rise 14%: PFA
- SREN SW : Swiss Re Targets IFRS Net Income of More Than $3.6b for 2024
- TGYM IM : NIF Holding Plans to Buy About 10.1m Technogym Shares
- TIT IM : KKR Works on Bid for Telecom Italia’s Submarine Cable Unit: Rtrs
- VLPAYB SS : Viaplay 3Q Sales Beats Estimates, Viaplay Cuts FY Adj. Ebit Forecast; To Inject SEK4B