Asian shares climbed after a conversation between Donald Trump and Xi Jinping raised hopes for easing US-China tensions. Equities advanced in regional markets from Australia to Japan and China. A gauge of major Chinese firms listed in Hong Kong rose as much as 2.4%, after Trump described the pre-inauguration talk between the two leaders as “very good.” US futures were marginally lower in Asia with Wall Street closed on Monday for a holiday. The optimism came after Trump and Xi discussed trade, TikTok and fentanyl, which may set the tone for relations in the early days of the new administration. Adding to the brigher mood, TikTok started restoring service in the US on Sunday as Trump said he would halt enforcement of a law requiring the app’s Chinese owner to find a buyer for three months. Whether the momentum can continue hinges on how quickly Trump will implement his policies ranging from lower taxes to higher tariffs and tighter immigration control, the inflationary impact of which may keep the dollar strong and Treasury yields elevated. His stance on issues including the tech rivalry with China and climate change also will likely affect investment decisions on sectors from semiconductors to electric vehicles, and shipbuilding. Elsewhere, Chinese banks kept their key loan prime rates unchanged, as expected by Bloomberg Intelligence. The World Economic Forum’s annual meeting gets underway later Monday. Among the group of billionaires set to join the pilgrimage of the rich and powerful to Davos, Switzerland are Larry Fink, Ray Dalio and Marc Benioff. Trump will speak virtually to the gathering three days after his inauguration. Later in the week, the focus will shift toward the Bank of Japan’s scheduled policy decision on Friday, with about three quarters of economists in a Bloomberg survey expecting it to hike its key rate. BOJ officials also see a good chance of a rate increase as long as Trump doesn’t trigger too many immediate negative surprises, Bloomberg reported on Thursday, citing people familiar with the matter. A digital token debuted by Trump has rattled the cryptocurrency market, attracting billions of dollars of trading volume while stoking concerns about conflicts of interest. Meanwhile, the wider crypto market struggled, with the largest token Bitcoin down 2% Monday. The Bloomberg gauge of the greenback has risen over 5% in the 10 weeks since the US presidential vote, only to snap its six-week rally on Friday. The advances have been similar to the gains it posted after Trump’s 2016 victory. Underpinning the move is a corresponding weakness in global currencies considered at risk from Trump’s economic policies, including the euro and Canadian dollar. China’s yuan has also lost more than 3% versus the dollar since Nov. 5, due to tariff risks and a widening gap between US and Chinese government bond yields. The People’s Bank of China has deployed various tools to support the currency, and depreciation expectations have been trimmed since peaking in early December. In commodities, oil was steady ahead of the inauguration of President-elect Donald Trump, as the market braced for a period of uncertainty and turmoil at the start of his second term in the White House.
Nikkei +1.17% Hang Seng +1.62% CSI +0.30% Shanghai -0.08% Shenzen +0.69%
Eur$ 1.0305 CNH 7.3239 CNY 7.3151 JPY 155.74 GBP 1.2204 CHF 0.9129 RUB 102.4855 TRY 35.5878 WTI$ 78.02+0.18% Gold 2,703 -0.01% BTC 101,700 -1.81% ETH 3,266 +1.08%
S&P +0.0% Nasdaq -0.08% EuroStoxx +0.02% Dax -0.5% SMI -0.09%
Macro:
- ECB Can Cut Rates, But Caution Needed, Schnabel Tells Finanztip
- Coinbase endorses strategic bitcoin reserve ahead of inauguration
- Coinbase endorses strategic bitcoin reserve ahead of inauguration
- Goldman Sachs Reshuffles in Rates-Trading Unit as Leaders Depart
- LA Fires Reveal Limits of California’s $21 Billion Utility Fund
- Azerbaijan Says Gas Supply Outage to Europe Extended to Jan. 20
- Spain Premier Aims to Ban Non-EU Citizens From Buying Homes
- German Conservatives Dip Below 30% Ahead of February Vote
- Asia Looks to Buy More US Fossil Fuels to Make Trump Happy
- Europol chief says Big Tech has ‘responsibility’ to unlock encrypted messages
Keep an eye on :
Keep an eye on :
- ME US : 23andMe Shares Jump on Report It’s Exploring Sale of Lemonaid
- AMZN US : Amazon Pauses Drone Delivery After Aircraft Crashed in Rain (1)
- AAPL US : TikTok, ByteDance Apps No Longer Available in US, Apple Says
- ARGX BB : Argenx Dips as Deutsche Bank Cuts on Unfavorable Risk Reward
- AVGO US : Broadcom chief eyes AI opportunity after confronting VMware backlash
- BEAN SW : Belimo FY Sales Beats Estimates
- CPRI US : Versace on the block - Prada still interested - Miss Tweed.
- CG US : Carlyle, Varde prep equity injection amid Bis Industries’ $150m refi
- CBK GY : Commerzbank explores thousands of job cuts in answer to Andrea Orcel
- DNB NO : DNB Sweden CEO Beskow to Leave Following Carnegie Merger
- VST LN : TDR Agrees to Buy Controlling Stake in CorpAcq, Sky Says
- 300750 CH : Chinese Soda Maker Dayao Is Said to Consider $500 Million HK IPO
- DOV IM :doValue Gets Two Mandates in Greece, Cyprus Worth €1.6B
- XOM US : Antitrust Concerns Cleared for Exxon, Chevron Megadeals -- WSJ
- GLEN LN : Rio and Glencore Spoke for Months About Deal That Was Once Taboo
- HEX NO : Hexagon Signs Long-Term Requalification Deal With Certarus
* HYQ GY : Hypoport Europace Mortgage Transaction Volume up 27% in FY 2024
- IFCN SW : Inficon Prelim FY Sales About $671M, Est. $669M
- INTC US : Intel Being Bought Wholesale Is Seen as Unlikely: Street Wrap
- INTRUM SS : Intrum CDS Holders Set for Payout of About $94 Million
- LHA GY : Lufthansa Finalizes Deal for 41% Stake in Italy’s ITA Airways
- MAU FP : Maurel Plans to Buy 40% Stake in Colombia Gas License for $150m
- MDRGL US : Madrigal Shares Climb on Betaville Report on Sale Talks
- MBG GY : EU Should Welcome Chinese Car Factories, Says Mercedes Boss: FT
- MBTN SW : Solar Firm Meyer Burger Amends Loan Facility, Starts M&A Process
- MNG LN : M&G Investments Names Marcello Arona as CFO; Fitzgerald Retires
- MCK NZ : CityDev Unit Offers NZ$2.25/Shr Cash for Millennium & Copthorne
- MSFT US : Microsoft-OpenAI Partnership Raises Antitrust Concerns: FTC
- MSFT US : OpenAI Resolved Degraded Performance for 4o & 4o-Mini Models (1)
- MRNA US : Moderna Gets Additional US Vaccine Funds Amid Bird Flu Outbreak
- 5943 JP : Noritz Gets Proposals From Nippon Active Value; Shares Rise
- ORCL US : Oracle Prepares to Shut US TikTok Servers, Information Reports
- PNL NA : PostNL Prelim 4Q Normalized Ebit Misses Estimates
- RWY IM : Italy’s Reway Group Is Said to Be Weighing Strategic Options
- RWY IM : Italy’s Reway Group Is Said to Be Weighing Strategic Options
- SAN SM : Santander considers UK exit amid frustrations with high street banking
- SPT LN : Spirent Prelim FY Revenue About $460M, Est. $432.3M
- STR AV : Strabag CEO Klemens Haselsteiner Dies at Age 45
- TEF SM : Telefonica Names New Chairman as Government Pushes Pallete Out
- TEF SM : Sanchez Surprises Investors with Spanish Business Interventions
- TSLA US : SEC charges against Elon Musk rocked Wall Street — but is the tech CEO a victim of lawfare? - NYP
- VKTX US : H.C. Wainright Reiterates VKTX with Buy, price target: $102 - Novo Phase 3b Data Continue to Boost Our Confidence in VK2735's Potential
- WPTG SS : White Pearl Technology Group AB: WPTG Signs Letter of Intent to Acquire Lumin4ry Consulting AB in Significant Swedish Expansion