Asian tech stocks’ declines weighed on the region’s equity markets, extending selling pressure on Wall Street that hit large Silicon Valley companies. Currency and bond markets were steady ahead of US jobs data due later Friday. An Asia equity index fell for a third day, with Japanese stocks among the hardest hit. Australian shares slipped, while the South Korea benchmark was little changed. Tech stocks were largely to blame for the region’s slide, particularly those in the semiconductor sector, as investors weighed up the impact of US tech companies’ earnings on Asian suppliers. Shares of Korea’s SK Hynix Inc. sank as much as 3.1%, and Taiwan Semiconductor Manufacturing Co. dropped after Taiwanese markets reopened. Chinese equities rose on data showing residential property sales increased in October and a separate survey revealing the country’s manufacturing activity unexpectedly picked up last month. The data signaled that Beijing’s recent stimulus measures are beginning to take hold while investors await next week’s National People’s Congress session that may introduce more initiatives. Some of the major non-tech decliners Asia were largely due to sluggish earnings results. Li Auto’s Hong Kong-listed shares slumped after the Chinese electric vehicle maker’s fourth-quarter revenue forecast missed estimates. CSPC Pharmaceutical shares also were down after reporting a decline in its preliminary net profit for the first nine months. In Australia, shares of Macquarie Group Ltd. fell after reporting earnings results that were short of analyst estimates. The US elections also continue to weigh on markets in Asia. Australia’s 10-year bond yield rose to an 11-month high amid the uncertainties tied to next week’s match-up between Donald Trump and Kamala Harris. US Treasuries were steady after minor gains Thursday. But October was the worst month for Treasuries in two years after the heavy selling of the past few weeks that reflected a rethink on US interest rates given signs of resilience in the economy. An index of dollar strength was little changed after falling Thursday. The S&P 500 lost 1.9% and the Nasdaq 100 dropped 2.4% Thursday, their worst sessions since early September, reflecting investor unease over the earnings of Microsoft Corp and Meta Platforms Inc. Apple Inc. shares were slightly softer in post-market trading Thursday after reporting weaker-than-anticipated sales in China. Amazon.com Inc. and Intel Corp. bucked the trend, rising in after-hours trade on optimistic outlooks. Weekly US jobless claims fell more than expected, according to figures released Thursday, indicating a robust employment market, and less reason for the Federal Reserve to cut rates. Friday’s nonfarm payroll figures are expected to show 100,000 jobs added to the US economy in October. The yen weakened after climbing as much as 1% against the greenback Thursday. The gains followed comments from Bank of Japan Governor Kazuo Ueda that currency markets have had a major impact on the economy, pointing to another potential rate hike in coming months. China’s residential property sales rise in October was the first on-year increase of 2024. The moves came after authorities unleashed their strongest package of measures, including cutting borrowing costs, relaxing buying curbs in big cities and easing downpayment requirements. Data set for release in Asia Friday includes Hong Kong retail sales. US After Hours Some high profile names report earnings -- INTC +8%, AMZN +5.8%, AAPL -1.8%; others reporting include TEAM +16.7%, TREE +5.2%, CUBE +4.6%, ASUR -19.9%, BJRI -8.3%, FOXF -8.3%.
Nikkei -2.63% Hang Seng +0.80% CSI +0.09% Shanghai -0.15% Shenzen -2.20%
Eur$ 1.0876 CNH 7.1304 CNY 7.1222 JPY 152.50 GBP 1.2896 CHF 0.8641 RUB 97.3271 TRY 34.3057 WTI$ 70.70 +2.08% Gold 2,753 +0.33% BTC 69,470 -0.67% ETH 2,507.35 -0.41%
S&P +0.13% Nasdaq +0.24% EuroStoxx +0.23% FTSE +0.05% Dax +0.12% SMI +0.14%
Macro :
- Apple Disappoints Investors With Tepid Forecast, China Weakness
- UK’s Reeves Seeks to Calm Markets After Post-Budget Selloff
- UK’s Reeves Seeks to Calm Markets After Post-Budget Selloff
- Oil Rallies on Report Iran Is Planning Israel Attack Via Proxies
- China Factory Activity Unexpectedly Grows on Stimulus Boost
- Amazon Belt-Tightening Produces Strong Cloud, E-Commerce Results
- Intel Surges After Results Spark Optimism Over Turnaround
Keep an eye on :
Keep an eye on :
- AMZN US : Amazon Projects Strong Holiday Season Revenue and Profit
- AAPL US : Apple 4Q Revenue Meets Estimates --> -2.5% China lower,
- BALDB SS : Balder Reports Directed Issue of SEK1.48b Class B Shares
- BALDB SS : Balder Targets SEK1.5 Billion With New Directed Share Issue
- BA US : Boeing Union Endorses Latest Offer to End Crippling Strike
- BRNL NA : Brunel 3Q Ebit EU17.3M Vs. EU18.8M Y/y
- CO FP : Casino 3Q Same-Store Sales -1.8%
- FGR FP : Eiffage Holds 20.55% of Getlink; Says Doesn’t Seek Control
- EL FP : EssilorLuxottica bets on glasses replacing smartphones as value hits €100bn - FT
- FIE GY : Fielmann 3Q Ebitda Misses Estimates
- FFARM NA : ForFarmers 3Q Adjusted Ebitda +28.2%
- FUR NA : Fugro 3Q Revenue Misses Estimates
- GET FP : Eiffage Holds 20.55% of Getlink; Says Doesn’t Seek Control
- INTC US : Intel Sees 4Q Revenue $13.3B to $14.3B, Est. $13.63B: Snapshot
- JNPR US : Juniper 3Q Adjusted EPS Beats Estimates
- MBTN SW : Meyer Burger 1H Ebitda Loss CHF123.5M, Est. Loss CHF127M
- PTON US : Peloton Settles Dispute With Mayville for About $25 Million
- SCATC NO : Scatec 3Q Ebitda Beats Estimates
- SEM PL : Semapa 9M Net Income EU181.6M Vs. EU167.2M Y/y
- SIRI US : Buffett Buys More Sirius XM as Berkshire’s Stake Climbs to 33%
- STADA IPO : Stada Is Said to Add Deutsche Bank, Goldman to Help Lead IPO
- SNBN SW : Swiss Finance Minister Says Stricter Bank Rules Needed for Trust
- UMG NA : UMG 3Q Ebitda Misses Estimates
- VIRI FP : Viridien 3Q Segment Revenue $246M Vs. $307M Y/y