Stocks in Asia edged higher as the Israel-Iran truce appeared to hold and Treasury traders ramped up bets for US interest rate cuts.
MSCI’s gauge for Asian equities climbed 0.3% on Wednesday following a more than 2% rise in the previous session, when US President Donald Trump announced a ceasefire between the Middle East rivals. US equity futures were little changed after the S&P 500 climbed 1.1% and the Nasdaq 100 rose 1.5% on Tuesday, notching its first record since February. Treasuries and a gauge of the dollar steadied. The benchmark 10-year yield shed five basis points on Tuesday after Federal Reserve Chair Jerome Powell said “many paths are possible” for monetary policy, with data showing weakening consumer confidence. Traders continued monitoring the Middle East as the nascent peace deal remains precarious. Iran and Israel appeared to honor the agreement after Trump lashed out at both sides for early breaches. Oil rebounded — after posting the biggest two-day decline since 2022 — as traders assessed the ceasefire and an industry report that pointed to another drop in US crude stockpiles. The dollar was weaker against most major peers. Asian currencies including the Philippine peso and Indonesia’s rupiah strengthened for a second day. The Australian dollar swung after monthly inflation data missed estimates. Powell’s remarks before the House Financial Services Committee came on the heels of the Fed’s decision last week to stay on hold. While the Fed chair largely maintained his call for patience as the economy absorbs the impact of trade tariffs, he said that lower inflation and weaker labor hiring could lead to an earlier rate cut. Money markets fully priced in two Fed cuts by the end of 2025, with a first move in September far more likely than next month — though bets on a July reduction edged up from last week. Fed Bank of Minneapolis President Neel Kashkari said officials need more clarity on how tariffs will impact prices even as recent inflation data has been “quite positive.” His New York counterpart John Williams said it’s “entirely appropriate” to hold rates to analyze impacts of policy changes. Fed Governor Michael Barr said he anticipates tariffs will drive up inflation and expressed support for a wait-and-see approach on rates. Fed Bank of Cleveland chief Beth Hammack said policymakers may hold borrowing costs steady for some time. Meantime, Boston Fed President Susan M. Collins said the modestly restrictive stance is necessary. Trump on Tuesday surprised both oil traders and officials in his own government by appearing to undermine years of US sanctions on Iran, giving its biggest customer China the green light to carry on buying the Islamic Republic’s oil as he seeks to bolster the ceasefire with Israel. In Asia, the Bank of Thailand is expected to keep its policy rate steady. South Korea’s bid for a developed-market status hit a setback after MSCI Inc. kept the country in the emerging-market category following a review. Indonesia’s Finance Minister Sri Mulyani Indrawati stressed that the government is committed to fiscal discipline while rolling out the president’s priority programs. US After Hours FDX -4.8%, AVAV -3.3% lower on earnings; WOR +11.3%, BB +6.6% higher on earnings; QS +19.7% as Cobra separator process enters baseline production; CURV -25.3% on stock offering.
Nikkei +0.30% Hang Seng +0.82% CSI +0.61% Shanghai +0.41% Shenzen +0.60%
Eur$ 1.1619 CNH 7.1685 CNY 7.1695 JPY 145.01 GBP 1.3624 CHF 0.8047 RUB 77.8002 TRY 39.6244 WTI$ 65.34 +1.51% Gold 3,333 +0.28% BTC 106,321 +0.17% ETH 2,432 -0.75%
S&P +0.05% Nasdaq +0.09% EuroStoxx +0.23% FTSE +0.02% Dax +0.29% SMI
Macro :
- EU May Car Registrations Rise 1.6% Y/y to 0.927m Units, European Car Sales Rise as Demand for Plug-In Hybrids Soars
- Citadel Securities Seeks to Stop Launch of IEX Options Exchange
- Citadel Securities Seeks to Stop Launch of IEX Options Exchange
- Andurand Hedge Fund’s Losses Worsen to 60% as Turmoil Spreads
- Belgian Government Strikes Deal on Defense Budget, Minister Says
Keep an eye on :
Keep an eye on :
- AMUN FP : Semco Technologies Launches Paris IPO, Sets Price at EU15/Share
- ANA SM : Luz Del Sur to Buy Company From Spain’s Acciona for $253m
- ASTOR SS : Scandinavian Astor Group Offers SEK300 million Shares, Astor Group Raises SEK320M in Oversubscribed Share Sale
- AVOL SW : Avolta Signs New Duty-free Concession Deal for Chilean Airport
- BAB LN : Babcock FY Adjusted Revenue Meets Estimates
- BB FP : BIC Holders, Including Outgoing CEO, Offer ~1.2m Shares: Terms
- BPOST BB : Watch European Delivery Stocks as FedEx Guidance Falls Short
- CDTX US : Cidara Said to Plan Day of Marketing For $250 Million Share Sale, Cidara Offering of 8m Shares Prices at $44/Share
- CYAD BB : Belgium-Based Biotech Celyad Oncology Starts Strategic Review
- DHL GY : Watch European Delivery Stocks as FedEx Guidance Falls Short
- EDF FP : EDF CEO Conducting Portfolio Review, May Sell Some Assets: FT
- FDX US : FedEx Guidance Disappoints With Tariffs Weighing on Demand
- FDX US : FedEx Guidance Disappoints With Tariffs Weighing on Demand
- FLS DC : FLSmidth to Start Share Buyback Program of up to DKK1.4b
- FYB GY : U.S. biosimilar specialist Valorum Biologics LLC becomes commercialization partner for Formycon’s Eylea® biosimilar
- FBRX US : Forte Biosciences Said to Offer Shares, Warrants at Up to $13, Forte Biosciences Offering of 5.63m Shares Prices at $12/Share
- HBMN SW : Saba Capital Management, L.P. passe pour la première fois le cap des 3%
- IBE SM : Spain Regulator to Get More Powers to Oversee Electricity System
- IPS FP : IPSOS: Ipsos Closes Purchase of the BVA Family
- Isar Aerospace : Boehly May Invest up to $150m in Isar Aerospace: Manager Magazin
- JUVE IM : Juventus FC’s Crypto Investor Turned Activist Wants a Board Seat
- LIO LN : Liontrust FY Revenue Beats Estimates
- LMT US : UK to purchase US jets capable of carrying nuclear weapons
- BMPS IM : Monte Paschi Gets ECB Green Light for Mediobanca Takeover Bid
- HOME SM : Neinor Offers About 15m Shares in Capital Raise, Terms Show, *NEINOR SETS PRICE OF NEW SHARES AT €15.25/SHARE
- NDX1 GY : Nordex Gets Orders From UKA For 435MW in Germany
- NOVN SW : Novartis Says 74.49% of Regulus Shares Tendered at Expiration
- NOVOB DC : Hims ‘Won’t Cave’ to Novo Demands Over Copycat Shots, CEO Says
- EFG FP : Olympique Lyonnais Says It Will Appeal Relegation Decision
- RI FP : Suntory Revives Plan to Buy India Whiskey Brand from Pernod: ET
- QXO US : Billionaire Jacobs’ QXO Seeks $2 Billion in Share Sale, *QXO PRICES OFFERING OF 89.9M SHARES AT $22.25 PER SHARE
- REN PL : REN Says Gas Unit Named Entity Responsible for Hydrogen Network
- SFL IM : Safilo Group Launches Shares Purchase Program for up to €18m
- SAN FP : Sanofi Says US FDA Gives Riliprubart Orphan Drug Designation
- SLGC US :
- TEF SM : Telefonica Chile Dollar Bonds Jump to a One-Month High
- THG LN : THG PLC Keeps Expectations Unchanged
- XRO US : Xero Reaches Deal to Acquire Melio Payments for $2.5 Billion
- ZPHR LN : Zephyr Energy to Raise GBP10 Million via Placing, Director Subscription