Asian equities traded mixed as Wall Street’s risk-on mood faded a day after the rally in big tech. Mainland Chinese stocks returned under pressure despite fresh signs of an earnings recovery among the country’s tech giants. Hong Kong shares edged higher, while those in Shanghai and Shenzhen fell, following a sudden rally Tuesday. Benchmark gauges in Japan and Australia held on to modest gains. The selling in mainland China came even as Baidu Inc. released financial results that showed its revenue rose the most in more than a year. The company reported a larger-than-projected jump in sales for the June quarter as its net income rose 43%. US stock futures advanced in Asia while investors awaited Nvidia Corp.’s results later Wednesday. Analysts are predicting that the company’s second-quarter revenue may come in higher than the forecast it gave three months ago. In a sign of how significant Nvidia’s results will be, the options market is bracing for a move of about 10% following the results. With Nvidia accounting for over 3% of the S&P 500, the stock action will possibly have broader implications. The shares briefly touched an all-time high Tuesday. The S&P 500 extended its August slide Tuesday. Banks dropped as S&P Global Ratings joined Moody’s Investors Service in cutting some US lenders amid a “tough climate. Treasuries gained in Asia, with the 10-year paper rising for a second day. The greenback weakened against all Group-of-10 currencies. The offshore yuan advanced after the People’s Bank of China once again maintained support for the currency. Powell is set to speak Friday at the Kansas City Fed’s Jackson Hole Economic Policy Symposium. Investors will look to the highly anticipated speech for clues on the outlook for interest rates, which the Fed last month lifted to a range of 5.25% to 5.5%, the highest level in 22 years. In commodities, both oil and gold edged higher. US After Hours URBN +3.3%, TOL +0.6% higher on earnings; APLS +33% jumps after providing updates on SYFOVR; UPS +0.6% ticks higher as labor deal gets ratified.
Nikkei +0,34% Hang Seng +0,94% CSI -0,86% Shanghai -0,64% Shenzen -1,18%
Eur$ 1,0861 CNH 7,2914 CNY 7,2821 JPY 145,65 GBP 1,2752 CHF 0,8796 RUB 94,1938 TRY 27,2077 WTI$ 79,76 Gold 1902,60 BTC 26,018 +0,40% ETH 1,635
S&P +0,32% Nasdaq +0,42% EuroStoxx +0,33% FTSE +0,17% Dax +0,43% SMI +0,38%
Macro :
- Pension funds shake off crypto worries with backing for broker Hidden Road
- Country Garden Default Deadline Becomes Guesswork for Creditors
- Banks Have Room to Fall With Rising Delinquencies in Focus
Keep an eye on :
Keep an eye on :
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- ALFEN NA : Alfen 1H Adjusted Ebitda EU21.1M Vs. EU37.3M Y/y
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- AUTN SW : Autoneum Sees FY Sales CHF2.4B to CHF2.5B, Est. CHF2.42B
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- CO FP : CDS Panel Rules Against Credit Event for French Grocer Casino
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- DPLM LN : M&S, Diploma Among Companies Indicated to Join FTSE 100 Index
- EQT SS : EQT Chiefs Prepare SEK20b Share Sale as Lock-Up Ends, DI Reports
- FORG US : Thoma Bravo to Close $2.3 Billion ForgeRock Deal After DOJ Nod
- MANU US : Manchester United Deal Could Be Announced In September: Sun
- MKS LN : M&S, Diploma Among Companies Indicated to Join FTSE 100 Index
- MEKO SS : Meko 2Q Ebit Beats Estimates
- MOWI NO : Mowi 2Q Revenue Beats Estimates
- NOVOB DC : Denmark Proposes to Restrict Subsidies for Novo’s GLP-1 Drugs
- ORSTED DC : US Approves Orsted’s Offshore Wind Project Near Rhode Island
- QCOM US : *FTC EXPECTED TO PROBE QUALCOMM-AUTOTALKS DEAL, POLITICO SAYS
- QPR1V FH : QPR Software Offers Shares via Evli Securities
- RKT LN : Reckitt Benckiser CFO Jeff Carr to Leave in Top Level Overhaul
- ROG SW : Roche: Skyscraper-01 Study Analysis Inadvertently Disclosed
- SCST SS : Scandi Standard 2Q Operating Profit Beats Estimates
- SENS SW : Sensirion Sees FY Ebitda Margin 5% to 10%
- SHEL LN : Shell Exec. Sees Global “Overreaction” to Possible LNG Strikes
- SOBI SS : Sobi Resolves on SEK6b Rights Issue to Partly Repay CTI Bridge
- 9984 JP : SoftBank-Backed Arm Uses SoftBank-Backed Raine to Help Steer IPO
- TSLA US : *PENTAGON WON'T DISCLOSE CONTRACT WITH SPACEX ON STARLINK: RYDER
- UBSG SW : UBS Names Aw From Credit Suisse as Head of Singapore: Memo
- VFS US : VinFast’s Wild Rally Adds $44 Billion as Shares Double (1)
- VIRP FP : Virbac Postpones 1H Results to Sept. 28 After June Cyberattack
- VPK NA : Gate Terminal Starts Building 4th LNG Tank at Rotterdam Port
- ZAG AV : Zumtobel Prelim 1Q Revenue EU285.6m; Cuts Full-Year Outlook