Stocks fell across Asia, following US declines, as optimism over the prospect of Federal Reserve interest-rate cuts waned and investors trimmed holdings before year-end. The MSCI All Country World Index of shares headed for a second day of loses after it had powered ahead for the previous nine sessions. Both the S&P 500 and Nasdaq 100 stock indexes fell 1.5% on Wednesday. Treasuries traded in a narrow range as did most currencies with volatility easing as the year-end holiday season approaches. “The dovish tone by the Fed in December has been grossly over exaggerated in terms of its impact on asset prices,” Mark Konyn, chief investment officer at AIA Company Ltd. said on Bloomberg Television. “The market will be little disappointed in terms of when those cuts start to take effect.” Japanese stocks were among the biggest losers in Asia while technology-heavy markets of South Korea and Taiwan also dropped. Shares in mainland China bucked the trend and edged higher after data showed signs of recovery in the country’s ailing property market. Meanwhile, traders were assessing the impact of a likely increase in import tariffs by the US on Chinese goods including electric vehicles. The US is attempting to bolster its clean energy industry against cheaper Chinese imports, a Wall Street Journal report said. Toyota Motor Corp. shares slid after subsidiary Daihatsu Motor Co.’s offices were raided over a safety scandal and the automaker recalled 1 million cars in the US. Citigroup Inc. decided to exit the distressed-debt trading business, according to people briefed on the matter. Morgan Stanley, meanwhile, considered allocating a portion of its balance sheet to a new private credit fund, according to people with knowledge of the plans. FedEx Corp., a bellwether for the US economy, reported diminished profits, heightening concerns about a slump. In commodities, oil fell below $74 per barrel, trimming a gain from Wednesday, while gold rose after falling in the session prior to trade close to $2,030 per ounce. Bitcoin edged higher, building on Wednesday’s gains with the Securities and Exchange Commission facing a Jan. 10 deadline to reject or approve ETFs. The token rose as high as $44,294 on Wednesday. Friday looks potentially busy with data releases including UK GDP, US consumer sentiment and so-called core personal-consumption expenditures price index — the Fed’s preferred inflation gauge. US After Hours MU +4.3%, MLKN +3.4% higher on earnings; CALT +26.9% as FDA approves TARPEYO; BB -1.8% lower on earnings.
Nikkei -1.59% Hang Seng +0.02% CSI +1.04% Shanghai +0.58% Shenzen +0.86%
Eur$ 1.0952 CNH 7.1472 CNY 7.1445 JPY 143.02 GBP 1.2648 CHF 0.8616 RUB 90.9259 TRY 29.13 WTI$ 74.14 -0.10% Gold 2,036 +0.20% BTC 43,480 +0.08% ETH 2,193 +0.66%
S&P +0.36% Nasdaq +0.45% EuroStoxx -0.57% FTSE -0.59% Dax -0.52% SMI -0.36%
Macro :
- Turkey Set to Continue Aggressive Tightening With Another Hike
- Red Sea Attacks Disrupt Global Trade as Shipping Rates Rocket
- Saudi Arabia Secures 1 Billion Euro Loan From Italy’s SACE
- Mideast IPO Boom to Stretch Into 2024 as Investor Appetite Grows
Keep an eye on :
Keep an eye on :
- AC FP : Accor Signs New €1b Revolving Banking Credit Facility
- ATUS US : Warburg Pincus Works on €6b Bid for Altice Portugal: FT
- CS FP : AXA France Vie Reinsurance Deal Brings €0.6b Cash Upstream
- BKT SM : Bankinter Names Ortiz CEO, Dancausa Non-Executive Chairwoman
- BMRN US : BioMarin Agrees With Elliott to Add Directors, Conduct Review
- BNP FP : Korea Is Said to Seek Fines on HSBC, BNP for Naked Short Selling
- BA US : Boeing Gets CAAC Nod on 737 Max Deliveries to China: Air Current
- BONAVA SS : Bonava Board Resolves on Underwritten Rights Issue of ~SEK1b
- BG US : Bunge Proposed Acquisition of Viterra Not Opposed: ACCC
- ByteDance Ipo : ByteDance’s Sales Break $110 Billion to Pass Tencent in 2023
- CAST SS : Castellum’s Board Proposes Pausing Dividends for 2023
- CBK GY : Commerzbank Gets ECB Approval for New EU600m Share Buyback
- FUR NA : Fugro to Buy Platform Supply Vessels Sea Goldcrest and Sea Gull
- GM US : Morgan Stanley Bullish on GM, Ford For 2024 as Headwinds Ease
- GIS US : General Mills Cuts Outlook on Cautious Shoppers: Consumer Wrap
- GLEN LN : Bunge Proposed Acquisition of Viterra Not Opposed: ACCC
- GS US : Goldman-Backed Vestwell Raises Funds at $1 Billion Valuation
- 8031 JP :Hexagon Purus Raises NOK1B in Convertible Bond Private Placement
- HSBA LN : Korea Is Said to Seek Fines on HSBC, BNP for Naked Short Selling
- IFX GY : Watch European Chip Stocks as Micron Gives Strong Forecast
- PARA US : Warner Bros Discovery-Paramount M&A Logical, Not Imminent: React
- PHIA NA : Philips Issues Recall for 340 Panorama MRI Units
- PLEO IPO DC : Denmark’s Pleo Wants to Prepare for 2025-2026 IPO, Borsen Says
- SAN FP : Sanofi Ends Tusamitamab Ravtansine Program as Phase 3 Test Fails
- SHEL LN : BP: Gulf of Mexico oil and gas auction nets $422M in bids, The Advocate says
- SKAB SS : Skanska Gets US Contract Worth About SEK960m
- SKG LN : *PRIMESTONE URGES SMURFIT TO REVIVE INTERNATIONAL PAPER TALKS
- STMA FP : Watch European Chip Stocks as Micron Gives Strong Forecast
- SCMN SW : Swisscom Is Said to Plan Vodafone Italy Bid Early Next Year
- TIT IM : F2i Board Said to Approve €1b Telecom Italia Network Investment
- TIT IM : F2i Board Said to Approve €1b Telecom Italia Network Investment
- 7203 JP : Toyota Recalls a Million US Vehicles on Air Bag Sensor Glitch
- VOD LN : Swisscom Is Said to Plan Vodafone Italy Bid Early Next Year