The yen recouped some of last week’s losses as investors weighed the extent of the defeat suffered by Japan’s ruling coalition in the weekend’s upper-house election. Asian shares dropped for the first time in three days. Japan’s currency strengthened as much as 0.7% against the dollar, before paring gains. The yen had dropped for two weeks and bond yields spiked ahead of the vote on concern a poor showing by Prime Minister Shigeru Ishiba would open the door to more spending and tax cuts. While the ruling Liberal Democratic Party and its partner lost their majority in the chamber, their final tally may be enough to keep Ishiba in the job. Elsewhere, shares in Hong Kong edged up while the regional MSCI Asia Pacific Index declined 0.1%. US equity-index futures edged up 0.1%. Oil held its decline while a gauge of the dollar was flat. Japan’s markets are shut for a holiday Monday, which means there is no trading of local stocks, or cash Treasuries in Asian hours. Japanese stock futures edged lower. David Chao of Invesco says the results of Japan’s upper-house election “were largely expected by the markets.” Ishiba said he intends to stay on despite the defeat. Traders are focused on how the political uncertainty may play out as this is the first time since 1955 that a leader from the storied Japanese party will govern the country without a majority in at least one of the legislative bodies. The election outcome dents Japan’s appeal to global investors, at least in the short term, said Dilin Wu, a research strategist at Pepperstone Group Ltd. Meanwhile, US President Donald Trump pushed back on a report that Treasury Secretary Scott Bessent advised that markets would react badly if he fired Federal Reserve Chair Jerome Powell. Powell’s removal as Fed Chair remains unlikely, and even in such a scenario, it is hard to see the other governors voting for cuts if the economic backdrop didn’t warrant them, Barclays strategists including Themistoklis Fiotakis wrote in a note to clients. On tariffs, European Union envoys are set to meet as early as this week to formulate a plan for measures to respond to a possible no-deal scenario with Trump, whose tariff negotiating position is seen to have stiffened ahead of an Aug. 1 deadline. Trump also said he’s nearing an announcement on a couple of “big” trade deals. Also, China boosted shipments of rare earth magnets in June — including to the US — after a global supply squeeze that threatened factory closures and inflamed trade tensions.
Nikkei Closed Hang Seng +0.35% CSI +0.52% Shanghai +0.62% Shenzen +0.83%
Eur$ 1.1630 CNH 7.1821 CNY 7.1791 JPY 148.44 GBP 1.3418 CHF 0.8014 RUB 78.5873 TRY 40.4001 WTI$ 67.50 +0.24% Gold 3,359 +0.27% BTC 118,413 +0.23% ETH 3,65 +0.60%
S&P +0.12% Nasdaq +0.20% EuroStoxx -0.32% FTSE -0.05% Dax -0.30% SMI -0.23%
Macro :
- German Company Initiative Pledges €631B in Investments by 2028
- EU to Prepare Retaliation Plan as US Trade Stance Hardens
- Bonds Will Suffer Most From a Powell Exit: Markets Pulse Results
- Bonds Will Suffer Most From a Powell Exit: Markets Pulse Results
- Newsom Proposes to Ease Permits for Oil Drilling in California
- Hedge Funds Reap Windfall as $10 Billion Hess Deal Bet Pays Off
- Hedge Funds Reap Windfall as $10 Billion Hess Deal Bet Pays Off
- Trump Pushes for 15%-20% Minimum Tariff on All EU Goods: FT
- Goldman’s Bell Says European Profit Misses See Big Punishment
- India Allows Jane Street to Restart Trading: Business Standard
Keep an eye on :
Keep an eye on :
- ALK US : Alaska Airlines Asks to Ground Its Fleet, F.A.A. Says
- AA US : Alcoa Pauses Canada Growth Projects Under Trump Aluminum Tariffs
- ALV GY : Ambani’s Jio Agrees to Reinsurance Venture With Allianz in India
- ALV GY : Ambani’s Jio Agrees to Reinsurance Venture With Allianz in India
- AGFX LN : Argentex Says Intends to Name Administrators
- ATO FP : Atos Liquidity Falls in First Half, Remains Above Required Levels
- BAS GY : BASF Set to Take Next-Round Bids for Coatings Arm in August
- BNED US : Barnes & Noble Education Delays 10-K on Digital Sales Probe --> -15% in After Hours after -3.45% in Official Session
- BEAN SW : Belimo 1H Sales Beat Estimates (1)
- BN CN : Brookfield to Invest up to $1b, Boost Isagen Stake to 38%
- CNR CN: Canadian Rails Slip Following Reports of US Rail Consolidation
- CA FP : Carrefour Said to Tap Rothschild for Potential Italy Unit Sale
- COV FP : Covivio Boosts FY Adjusted EPRA Profit Forecast
- CRC US : Newsom Proposes to Ease Permits for Oil Drilling in California --> +7%
- DTG GY : Daimler Truck mulls China production exit as it faces ‘crazy’ down cycle
- DHER GY : Prosus Offers to Sell Down Delivery Hero Stake to Appease EU
- EBUS NA : Ebusco to Postpone Publication of 1H Results
- EMBR33 BZ : Embraer Warns Tariffs May Add to Plane Costs for US Carriers: FT
- GALP PL :
- HUM US : Humana Shares Drop as Medicare Lawsuit Is Dismissed
- IBE SM : Ambev Buys Stakes in Neoenergia’s Wind Units
- IDEX NO : IDEX Biometrics Offers 9.09m Shares at NOK3.30/Share
- ITP FP : Interparfums SA Unveils Its Own Perfume Brand: Solférino Paris - WWD
- IVZ US : Invesco Soars, Topping S&P 500, With Plans for QQQ: Street Wrap
- 600276 CH : Jiangsu Hengrui Gets FDA Orphan Status for Trastuzumab-rezetecan
- KLG US : Froot Loops, Apple Jacks to Cut Synthetic Dyes by 2027
- KNEBV FH : Finnish Elevator Giant Kone Is Promoting Digital Manufacturing Upgrades in China
- LSEG LN : London Stock Exchange Group Weighs 24-Hour Trading, FT Reports
- MC FP : Flexjet Raises $800m in Funding Round Led by L Catterton: FT
- MC FP : Louis Vuitton Data Leak Affects 419,000 HK Clients: Ming Pao
- MSFT US : Global Hack on Microsoft Product Hits U.S., State Agencies, Researchers Say
- OPAP GA : Watch Opap After Company Buys Remaining 15.5% stake in Stoiximan
- OPEN US : Opendoor’s 175% Surge Puts It on Pace for Its Best Week Ever
- PARA US : Paramount Suitor Meets With FCC Chairman, Seeking OK for Deal
- PRX NA : Prosus Offers to Sell Down Delivery Hero Stake to Appease EU
- ROG SW : Genentech’s Bid to Expand Columvi in Lymphoma Rejected by FDA
- ROG SW : Roche Astegolimab Phase 3 COPD Study Misses Primary Endpoint
- RYA ID : Ryanair 1Q Profit After Tax Beats Estimates
- SRPT US : Sarepta to Continue Shipping Elevidys to Ambulant Population, FDA Requests Sarepta Therapeutics Suspend Elevidys Distribution
- SDRL US : Seadrill Says UK High Court Issued Judgment Against It
- TSLA US : Raj Jegannathan Running Tesla’s Sales Team: Reuters
- TSLA US : Musk Says xAI Will Make Kid-Friendly App Called Baby Grok
- TTE FP : Mozambique Nears Deal to Revive $20 Billion Total Gas Project
- Trafigura : Ex-JPMorgan Metals Trader ‘Disco’ Is Joining Trafigura
- UBER US : Uber Launches WeChat Mini-Program App for Chinese Users Abroad
- VFS US : Vietnamese EV Co VinFast Gets Export Orders From India Plant: BS
- YAR NO : Nutrien, Mosaic Rise as BHP Canadian Potash Mine Delayed