Asian equities slipped, reflecting macroeconomic concerns and a muted mood on Wall Street triggered by Nvidia Corp.’s lackluster revenue forecast. A gauge of Asian equities edged down 0.3%, with the region’s tech heavyweights among the biggest drags. Contracts for US benchmarks dipped Thursday after Nvidia’s third-quarter revenue and earnings met estimates but fell short of the highest estimates for future revenue. Indian benchmarks underperformed as US indictment of Gautam Adani over an alleged bribery plot led to a tumble in the group’s shares. Nvidia’s earnings outlook rippled across its suppliers and global markets, given the company’s size and role in the artificial intelligence boom. Geopolitical tensions also loomed over markets after Ukraine fired British cruise missiles at military targets inside Russia for the first time. Shares of India’s Adani Group units fell in Mumbai and the conglomerate scrapped a $600 million dollar bond sale after US prosecutors’ charges. The group’s existing US-currency notes plunged. Bitcoin set a fresh record, hitting $97,000 for the first time, as President-elect Donald Trump’s team is holding discussions over whether to create a new White House post dedicated to cryptocurrency policy.
Shares of Taiwan Semiconductor Manufacturing Co. fell as much as 1.5%. Korea’s SK Hynix, a supplier of Nvidia, sank as much as 1.4% in Seoul.
US prosecutors charged Adani, one of the world’s richest people, with participating in a scheme that involved promising to pay more than $250 million in bribes to Indian government officials to secure solar energy contracts. Prosecutors in Brooklyn, New York, alleged on Wednesday that Adani and other defendants lied about the plan as they sought to raise money from US investors. Elsewhere in Asia, Japan’s largest labor union chief is calling for Prime Minister Shigeru Ishiba’s government to accelerate efforts to boost wages. Treasury yields slipped Thursday after rising across the curve in the prior session, partly reflecting lukewarm demand in a 20-year US government debt auction. An index of the dollar edged down after gaining Wednesday. Federal Reserve Bank of Boston President Susan Collins said more interest-rate cuts are needed, but policymakers should proceed carefully to avoid moving too quickly or too slowly. Swaps market pricing indicated a less than 50% chance the Fed will cut rates again in December. Traders are also monitoring Trump’s administration picks, especially his selection for the Treasury secretary role. Former Federal Reserve Governor Kevin Warsh and Apollo Global Management’s Marc Rowan are contenders, according to people familiar with the matter. Gold was up Thursday, notching its fourth daily advance. Oil steadied as the market monitored developments in Ukraine and the Middle East after US crude stockpiles rose for a third week. US After Hours SNOW +18.8% up big on earnings and news; DFH +10.5% soaring on inclusion in S&P SmallCap 600; NVDA -1.4% slipping following in-line Q4 revenue guidance.
Nikkei -0.85% Hang Seng -0.33% CSI -0.02% Shanghai -0.06% Shenzen -0.07%
Eur$ 1.0547 CNH 7.2483 CNY 7.2420 JPY 155.11 GBP 1.2650 CHF 0.8831 RUB 100.5000 TRY 34.4949 WTI$ 68.99 +0.35% Gold 2,655 +0.17% BTC 97,570 +3.28% ETH 3,117 +1.15%
S&P -0.18% Nasdaq -0.30% EuroStoxx +0.42% FTSE +0.43% Dax +0.50% SMI +0.42%
Macro :
- Germany Won’t Give Ukraine Long-Range Missile Even After US Move
- Germany’s Stringent Fiscal Rules Up for Debate Ahead of Election
- German Property Market Picks Up as Big Deals Rebound, C&W Says
- EU October Car Registrations Rise 1.1% Y/y to 0.866m Units
- Hedge Funds Pitch Short, Activist and Long Bets at Sohn London
- Natural Gas Producers Rally With Cold Front Expected in US
- Gautam Adani Charged by US Over Alleged $250 Million Bribe Plot
- Turkey to Pivot Toward Interest-Rate Cut After One More Hold (1)
Keep an eye on :
- ARAMCO AB : Aramco to Take on More Debt, Focus on Dividend Growth, CFO Says
- ASML NA : Dutch Universities to Get First Batch of €450 Million Chip Funds
- BBVA SM : BBVA Presents Measures to Spanish Regulator on Sabadell Deal
- BA US : Boeing CEO Calls on Employees to Take Ownership of Turnaround
- CMCSA US : Comcast Spinoff Will Look to Buy Channels, Expand Into Streaming
- DOV IM : doValue Offers EU150 million Shares: Terms
- ELF US : Elf Beauty Sinks 15.6%, Approaches Support Zone From $88-$101
- EQT SS : Grant Thornton UK Agrees to Sell a Stake to Cinven: FT
- GALD SW : Galderma Backers Offer to Sell About $1.4 Billion Stake
- GIMB BB : Gimv 1H Net Income EU144.9M Vs. EU158.2M Y/y
- GKP LN : Trump Aims to Revive the Keystone XL Oil Pipeline: Politico
- IBE SM : Iberdrola Signs €500M Loan Pact With EIB for Smart Grid Rollout
- IBAB BB : Ion Beam Order Intake €171M Per End of 3Q
- BAER SW : Julius Baer Sees 2024 Net Profit Significantly Above Prior Year, Julius Baer Says Client Inflows Accelerated, Sees Profit Boost
- LAND SW : Landis+Gyr Names Peter Mainz New CEO With Immediate Effect
- MFEB IM : MFE 9M Ebit EU126.6M Vs. EU98.3M Y/y, MFE 9M Profit Rose 38.7% Y/Y: CEO Pier Silvio Berlusconi
- MSTR US : MicroStrategy to Quicken Bitcoin Buying After Boosting Note Sale
- NOVN SW : Novartis Sees 6% Sales Growth For 2023-2028 Period, Saw 5% CAGR, Novartis Raises Sales Guidance Citing Cancer, Inflammatory Drugs
- NVDA US : Nvidia 3Q Revenue Beats Estimates, Nvidia Forecast Fails to Meet the Loftiest Estimates for AI Star, Nvidia Blackwell Demand to Outdo Supply for Several Quarters
- NVDA US : Nvidia Post-Market Selloff Looks Short-Lived
- PEAN SW : Peach Property Offers 22.7m Shares at CHF5/Share
- PNN LN : Envestra Pitches Long Bet on UK Utility Pennon: Sohn London
- PYXS US : Pyxis Oncology Shares Sink After Preliminary Data on Cancer Drug
- RYA ID : Ryanair Threatens to Reduce Flights to French Airports Over Tax
- SAGAA SS : White Creek Capital Says It’s Short Sagax: Sohn London
- SNOW US : Snowflake Shares Jump on Strong Product Sales Growth Outlook
- SOI FP : Soitec Cuts FY Capital Expenditure Forecast, Soitec Maintains Its Full-Year Revenue Guidance: Street Wrap
- S30 FP : Solutions30 Appoints Thomas Kremer as Supervisory Board Chair
- TE FP : Technip Energies Sees Cumulative FCF €2.2B–€2.6B Over 2024-2028
- TKO FP : Tikehau Capital Mulls Moving Listing to New York From Paris: FT
- ULVR LN : Unilever Shelves Ice Cream Unit Sale, To Focus on Spinoff: FT
- UQA AV : Uniqa 9M Net Income EU264M Vs. EU248.2M Y/y
- VOW GY : Europe Car Sales Stagnate as Electric Vehicle Weakness Persists
- VOW GY : Volkswagen Lurches Closer to Walkouts as Union Talks Deadlocked
- WIE AV : Wienerberger Holder Offers About 1.8m Shares: Terms
- X US : U.S. Steel Extends Gains After Nippon Steel, PA Governor Meeting
- ZURN SW : Zurich Ins. Targets Core EPS Growth Rate of Over 9% for 2025-27