Asian equities trade generally lower, US said to consider additional trade actions on China. Shanghai Composite pares gains as PBoC cut the RRR following recent market speculation. HK IPOs in focus, money market rates hit 10-year high: Xiaomi set maximum offering price for floatation, Meituan files for ~$6.0B IPO. BoJ June Meeting Summary of Opinions: Not appropriate to adopt policy that would ‘forcibly’ push up demand in short period of time, reason for sluggishness in prices is not likely to be merely shortage of demand. Turkish Lira (TRY) rises over 1.5%, country’s election board said Erdogan received a ‘simple majority’ (97.2% of the votes counted); Currency later pares gains . Yen (JPY) trades broadly firmer in the face of general equity weakness and focus on trade; AUD/JPY drops over 0.5%; yuan (CNY) declines over 0.5%. Brent Crude futures decline over 1.5% as OPEC+ agreed to raise production. Offshore yuan falls to lowest level this year and its longest consecutive decline in 2-yrs. Japan auto makers under pressure, expected to be caught up in US trade wars
Nikkei -0.76% Hang Seng -1.08% CSI -0.76% Shanghai -0.64% Shenzen -0.28%
Eur$ 1.1643 CNH 6.5487 CNY 6.5387 JPY 109.47 GBP1.3251 CHF 0.9886 RUB 63.1917 WTI $ 68.34 -0.35%
S&P -0.49% EuroStoxx -0.55% FTSE -0.50% Dax -0.23% SMI -0.42%
Macro :
- BIS Head Says Trade War May Start Downward Spiral: Handelsblatt
- Goldman Sachs, Morgan Stanley Dispute Fed Tests: Financials Wrap
- Banks May Be Using Lehman-Style Trick to Disguise Their Debt
- Morgan Stanley Cuts Emerging-Market Equity Allocation, Adds Cash
- China Stocks Shrug at PBOC Reserve Ratio Cut: Macro Squawk Wrap
Keep an eye on :
- AIR FP : Airbus Given ‘Material Witness’ Status in Kazakhstan Probe
- ANDR AV : Andritz to Buy Xerium Technologies in Deal Valued $833m
- SAB SM : TSB in Talks to Bring IT-System Oversight Back In-House: Times
- BT/A LN : BT Looks to Sell Scandal-Hit Italian Arm: Telegraph
- CPR IM : Campari Could Reorganize Holding With Internal Merger: Corriere
- CAPIO SS : Capio Has Held Talks About Selling Non-Nordic Operations
- CRH ID : DOJ: CRH Must Divest Quarry to Proceed With Pounding Mill Deal
- ACA FP : Credit Agricole to Provide German Unit With More Capital: BZ
- DAI GY : Daimler Shareholders Seek Group-Case Status in Diesel Suits
- DAI GY : Daimler Halts Deliveries of Some Mercedes Diesel Models: Funke
- DPW GY : Deutsche Post Expects Growing Competition From Amazon: HB
- DIS US : Disney Ratings May Be Cut By Fitch After Revised Fox Bid
- ENG SM : Enagas Said Close to Deal for Morocco Gas Pipeline: Economista
- ENEL IM : Enel Buys 21% of Fiber Optic Co. Ufinet From Cinven for EU150m
- EVT GY : Evotec Gets EU3m Milestone Payment from Sanofi
- GE US : GE Nears Sale of Industrial Engines Unit to Advent: CNBC/DJ
- IGY GY : RWE CEO Sees Innogy Sale to EON Completed in 2019: Rheinische
- I US : Intelsat Bonds Fall Most in High Yield After FCC Disappointment
- IWG LN : IWG Confirms Terra Firma Approach for Full Acquisition
- DEC FP : JCDecaux Is Said to Agree to Buy APN at Higher Price: Australian
- LUX IM : Luxottica Buys Barberini in Deal Worth About EU140m
- NAS NO : Norwegian Air CEO Says It’s Too Early to Sell Airline: NRK
- NDX1 GY : Nordex Gets Eletrobras Contract for 123 MW Wind Farm in Brazil
- ODF NO : Oil Vessel Leaked Fuel Oil After Hitting Rotterdam Port Jetty
- POR AV : Porr to Join ATX Index for First Time on June 26: Wiener Boerse
- PFD LN : Fund Oasis Says Premier Foods Is a Zombie, Seeks to Oust CEO
- RTL GY : RTL to Increase Video-on-Demand to Fight Netflix, Amazon: FAZ
- ROG SW : Roche’s Phase III IMpower133 Study Met Co-Primary Endpoints
- ROCHE BOBOIS IPO : Roche Bobois Sets IPO Price Range at EU19.75-EU24.30
- SIE GY : Siemens to Hire as Many as 15,000 in Germany Over 5 Years: NZZ
- STOB LN : Sacked CEO Held Talks With Tycoon Day to Reunite Stobart: Times
- SLHN SW : Swiss Life Buys German Real Estate Manager BEOS; No Terms
- TNET BB : Telenet Starts EU300M Share-Buyback Program Until June 28, 2019
- TRI FP : Recreational Vehicle Market to Grow; Berenberg Prefers Dometic
- UCG IM : Caius Said to Push UniCredit to Convert Complex Securities: FT
- VOW3 GY : U.S. Mulls More Warrants in VW Probe, Looks at Stadler: Spiegel
- WPP LN : WPP Close to $300M Sale as Sorrell’s Empire Is Broken Up: Times