An Asian stock index rose on Thursday as China’s latest steps to shore up its economy steadied nerves in the anxious wait for a key speech by Federal Reserve Chair Jerome Powell at the Jackson Hole symposium. The regional gauge added about 0.5%, helped by gains in Japan. Morning trading in Hong Kong was scrapped due to a storm. US futures pushed higher in the wake of positive closes for the S&P 500 and Nasdaq 100. China stepped up stimulus with a further 1 trillion yuan ($146 billion) of measures for an economy stricken by property-sector oes, Covid-linked mobility curbs and some power shortages. Mainland shares made only modest progress, reflecting uncertainty about whether the efforts are sufficient. The worries ahead of Powell’s comments due Friday are centered on whether he will rebut expectations that slowing growth will temper US monetary tightening in the next phase of the campaign against high inflation. Treasuries trimmed a slide but the two-year yield remained in sight of 3.40%. A dollar gauge dipped. Crude oil added to a rally that could feed into renewed jitters about whether price pressures have peaked. Fed officials in the run-up to Jackson Hole have been clear they see more monetary tightening ahead, a message that’s eroded a bounce in stocks and bonds from mid-June troughs. The tension in markets is whether those assets will continue to head back toward the lows of the year. South Korea’s central bank raised borrowing costs and projected faster inflation. The won and bond yields advanced. The currency led an Asian baskettracked by Bloomberg. In Europe, natural gas prices have surged to fresh highs, intensifying an energy crisis that threatens the euro-area economy and hence the global outlook. US After Hours Summary: SNOW +18%, ADSK +6.5%, NTAP +6.4% higher on earnings; SPLK -9.9%, VSCO -7.6%, CRM -7.2%, NVDA -4.8% lower on earnings; TDOC +2.7% higher on WaPo report that AMZN plans to exit telehealth; ELY +4.6% to change its name
Nikkei +0,76% Hang Seng +1,50% CSI +0,16% Shanghai +0,39% Shenzen -0,61%
Eur$ 0,9994 CNH 6,8571 CNY 6.8512 JPY 136.68 GBP 1.1831 CHF 0.9641 RUB 60.2833 TRY 18.1558 WTI$ 95.18 +0.32% Gold 1,756.40 +0.30% BTC 21,585 -0.50% ETH 1,680.35 -0.18%
S&P +0.39% Nasdaq +0.38% EuroStoxx +0.19% FTSE +0.27% Dax +0.29% SMI
Macro :
- Hedge Fund Founder Och Sues Sculptor Over Compensation Fight
- UK Should Cut Energy Demand 10% to Soften Crisis, Charity Says
- Buying Puts Hasn’t Worked as Hedge. So Goldman Has a Better Idea
Keep an eye on :
- ACKB BB : Ackermans & Van Haaren to Get 7.7% Shareholding in AstriVax
- ALFEN NA : Alfen Boosts FY Revenue Forecast, Beats Estimates
- ALO FP : Alstom Says 55% of Rights Exercised in Favor of Div. in Shares
- AT1 GY : Aroundtown 1H FFO I EU185.6M Vs. EU172.0M Y/y
- BANB SW : Bachem 1H Ebitda Misses Estimates
- BALN SW : Baloise 1H Profit CHF287.1M Vs. CHF302.3M Y/y
- CAI AV : CA Immo Sees FY FFO I Above EU125M
- CLN SW : Clariant Places Green Bond in Amount of CHF175M
- DTE GY : T-Mobile Jumps as SpaceX Says ‘Increase Connectivity’ Coming
- DGI9 LN : Digital 9 Expects Premium Segment Admission on August 30
- ELK NO : Elkem Says Strike in Norway Called Off, Affected Plants Resuming
- ENI IM : ENI CEO Confirms to NOC Chairman Full Commitment in Libya
- ERYP FP : Erytech Won’t Seek Approval For Graspa in Hypersensitive ALL
- GOGL NO : Golden Ocean 2Q Net Income Beats Estimates
- IIA AV : Immofinanz 1H FFO I EU78.7M, Sees About EU120M in 2022
- KUD SW : Kudelski Sees FY Ebitda $55M to $75M, Est. $67.8M
- MC FP : Sephora Settles With California Over Sales of Customer Data
- NAS NO : Norwegian Air 2Q Operating Revenue Meets Estimates
- NOVN SW : Novartis to Spin Off Generic Unit Sandoz in Standalone Company
- REV US : Revlon Judge Rejects Shareholder Plea for Equity Committee
- SALM NO : Salmar 2Q Operating Revenue Beats Estimates
- SCST SS : Scandi Standard 2Q Operating Profit SEK42M Vs. SEK75M Y/y
- STG DC : Scandinavian Tobacco Says Supply Chain Challenges Are Temporary
- SWON SW : SoftwareONE 1H Adjusted Ebitda Beats Estimates
- SPSN SW : Swiss Prime 1H Ebit Beats Estimates
- URW NA : Unibail-Rodamco Sells Westfield Santa Anita for $537.5M
- UN01 GY : KfW Discusses Increase in Uniper’s Credit Line: Reuters