Global stocks rose for a ninth day, on track for a record high, boosted by comments from US President Donald Trump hinting at a potentially softer approach toward tariffs on China. The yen strengthened after the Bank of Japan raised interest rates. A gauge of Chinese equities in Hong Kong jumped, while the dollar weakened and the yuan extended gains, after Trump said in an interview with Fox News that he would rather not have to use tariffs against the world’s second-largest economy. Assets often seen as proxies for China also reacted, with the Australian dollar gaining 0.7%. But some recommended caution in interpreting the US President’s comments. Trump’s remarks “could be a sign he’s willing to negotiate with Beijing before resorting to massive levies on imports from China,” said Chang Shu, Chief Asia Economist for Bloomberg Economics, in a note. “That said, it’s difficult to see Trump backing down from his tariff threats.” The Japanese currency strengthened against the greenback, after the Bank of Japan raised interest rates for the first time since July. The country’s two-year and five-year government bond yields rose to their highest levels since 2008, while 10-year JGB futures fell as much as 34 ticks to 140.59. The Topix index of stocks fluctuated. The central bank signaled that it sees a faster pace of inflation in the coming years compared with its previous forecast. The BOJ also said if its outlook is realized, it will continue to raise the policy rate. A key focus for the market will now be whether BOJ Governor Kazuo Ueda will give any hints about the pace of future hikes at his press conference. A gauge of Asian stocks headed for its second week of gains, following a rebound in technology shares that pushed Wall Street to a record high. The nine-day advancing streak by MSCI’s all-country share index would be the longest in more than a year. Futures for the S&P 500 were steady, while Europe’s rose. The 10-year Treasury yield slipped. Back in the US, there’s some optimism Trump’s administration may be able to thread the needle in introducing measures that will boost growth and stocks, even while keeping a lid on prices pressures, which should allow the Federal Reserve to continue monetary easing this year. In the corporate world, shares of Mitsubishi Motors Corp. fell after Japanese media reported that it won’t be a part of Honda Motor Co. and Nissan Motor Co.’s plans to combine their companies under a holding company. Also, Italian lender Banca Monte dei Paschi di Siena SpA is exploring a potential deal for Mediobanca SpA, people with knowledge of the matter said. US after Hours TWLO +10.7% surges on bullish Investor Day, guidance; BA -1.8% lower on Q4 guidance; CSX -4%, TXN -4% lower on earnings.
Nikkei -0.07% Hang Seng +1.98% CSI +0.79% Shanghai +0.71% Shenzen +1.16%
Eur$ 1.0436 CNH 7.2494 CNY 7.2471 JPY 155.30 GBP 1.2405 CHF 0.9048 RUB 99.4736 TRY 35.7032 WTI$ 74.60 -0.03% Gold 2,774 +0.70% BTC 104,950 +1.75% ETH 3,391 +4.35%
S&P -0.09% Nasdaq -0.17% EuroStoxx +0.40% FTSE +0.07% Dax +0.36% SMI +0.51%
Macro :
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- Davos : Debating Technology : https://dub.sh/Pqu0k6G
- Billionaire Ambani is Building World’s Biggest Data Center (1)
- Dollar Tumbles on Trump’s Softer Tone, Hawkish BOJ: Macro Squawk
Keep an eye on :
Keep an eye on :
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- SK FP : SEB 4Q Like-for-Like Sales Misses Estimates
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- SFSN SW : SFS FY Sales CHF3.04B Vs. CHF3.09B Y/y
- LIGHT NA : Signify 4Q Comparable Sales Beats Estimates
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