Asian stocks headed for their biggest slide in a month, with the bulk of losses coming in Hong Kong, as China announced plans to impose a national security law on the city, which threatened to further escalate tension between Washington and Beijing. Treasuries climbed with the dollar.
Hong Kong’s Hang Seng fell over 5%. Losses were more modest in Tokyo and Sydney, while equity futures in Europe and the U.S. retreated. The yuan was steady as China’s National People’s Congress began with pledges to sell bonds and omit a GDP target for this year due to uncertainties stemming from the pandemic. Indian bonds rallied after the country’s central bank cut its policy rate in an unscheduled move.
The S&P 500 closed lower on Thursday, with signs mounting that President Donald Trump will make his tough-on-China stance a key element of his re-election bid. China responded to accusations from Trump, warning that it will safeguard its sovereignty, security and interests, and threatened countermeasures.
Nikkei -0.90% Hang Seng -5.31% CSI -2.16% Shanghai -1.87% Shenzen -2.28%
Eur$ 1.0925 CNH 7.1421 CNY 7.1215 JPY 107.44 GBP 1.2213 CHF 0.9715 RUB 71.40 WTI$ 31.45 -7.25%
S&P -0.71% NAsdaq -0.74% EuroStoxx -1.28% FTSE -1.26% Dax -1.33% SMI
Macro :
- Hedge Funds Playing Defense Ramp Up Stock Exposures to 2010 High
- Buy Defensive Stocks as Pullback Looms, Bernstein Quants Say
- Rokos, Thiara Bet Big on Corporate Bond ETFs in Volatile Markets
- Money-Market Funds Snap 12 Weeks of Inflows, Jefferies Says
- Bond Fund Inflows Accelerate With Stocks Out of Favor, Citi Says
Keep an eye on :
- AIR FP : Etihad Plans to Cut 1200 Jobs, May Retire Its A380 Jets: Reuters
- AF FP : KLM Faces Trouble Securing Loan Amid Repayment Burden: Telegraaf
- AJB LN : AJ Bell Holder to Offer Shares
- MT NA : U.S. Steel, ArcelorMittal Hiked Steel Price Again, Cowen Says
- AZN LN : AstraZeneca Gets U.S. Funding; Kadmon Jumps: N.A. Health Wrap
- CS FP : Le tribunal de commerce de Paris donnera un nouvel éclairage sur les pertes d’exploitation, vendredi. Et la direction à suivre par les assureurs. - https://bit.ly/3cYm74c
- BDRILL NO : Borr Drilling Offering Prices 46.2m Shares at $0.65/Share
- CSGN SW : Credit Suisse Targets Luckin Ex-Billionaire’s Family Assets
- EXPN LN : Experian to Buy Maj. Stake in Bertelsmann’s Arvato Risk Mgt Unit
- HHC US : *HHC GAINS AS ACKMAN TWEETS AT ELON MUSK FOR NEW TSLA LOCATION
- KOA NO : Kongsberg Automotive Offering Prices 7b Shares at NOK0.1/Share
- LLOY LN : Lloyds Shareholders Lodge Protest Vote Over Executive Pay
- OTB LN : On the Beach to Place About 19.9% Share Capital; Adds GBP25m RCF
- PHIA NA : Turkish Consortium Plans to Buy Philips’ Appliance Unit: Sabah
- RBS LN : RBS Chief Says Most Staff Won’t Return to Office for Months
- RNO FP : Former Green Beret Arrested in Ghosn Escape to Fight Extradition
- RNO FP : France Still Discussing Aid Measures With Renault: Figaro
- ROG SW : U.K. Buys 10 Million Antibody Tests from Roche and Abbott
- ROG SW : Roche Buys Stratos Genomics; No Terms
- RDSA LN : Shell Plans Voluntary Job Losses to Mitigate Impact of Oil Slump
- SRAIL SW : Stadler Rail Supends Targets, Chairman to Replace CEO Ad-Interim
- FTI FP : TechnicFMC May Issue up to GBP 600M Notes Under CCFF Program
- UQA AV : Uniqa 1Q Pretax Loss EU13.9 Mln Vs. Profit EU42.3 Mln Y/y