Asian stocks were steady Thursday as traders weighed China’s efforts to cushion its economy as well as Federal Reserve minutes flagging the risk of a faster reduction in monetary stimulus to fight elevated inflation.
MSCI Inc.’s Asia-Pacific share index snapped a three-day drop. Equities came off their lows in Hong Kong and China, where Beijing urged local governments to boost investment to counter a growth slowdown. Meanwhile, the Chinese city of Chengdu sought to ease a cash crunch at property developers. U.S. and European futures rose after modest Wall Street gains overnight.
The latest U.S. data showed a solid economic recovery, including resilient consumer spending despite persistent price pressures. Fed officials at their last meeting were open to a quicker removal of policy support to curb inflation, according to the minutes of the gathering.
Bets on an earlier Fed interest-rate liftoff saw shorter maturity Treasury yields advance, while longer-maturity rates retreated, flattening the yield curve. There’s no cash Treasuries trading due to the U.S. Thanksgiving holiday. Treasury futures edged lower. The dollar dipped from a 16-month high
Assets from equities to commodities to cryptocurrencies have delivered substantial gains this year. Investors are evaluating how much further they can go as the recovery from the pandemic continues but liquidity tailwinds start to cool.
Crude oilwas steady as traders await the response of OPEC+ to a coordinated release of strategic reserves by consuming nations.
US After Hours : CO +17.8% AURA +5.6% BERY +1.1% SELB -11% AVIR -2.3% QTNT -2.2%
Nikkei +0.78% Hang Seng +0.12% CSI -0.31% Shanghai -0.10% Shenzen -0.11%
Eur$ 1.1210 CNH 6.3924 CNY 6.3885 JPY 115.36 GBP 1.3346 CHF 0.9337 RUB 74.7717 TRY 11.9614 WTI$ 78.37 -0.35% Gold 1,792.15 BTC 57,300 -0.05% ETH 4,280+0.52%
S&P +0.37% Nasdaq +0.34% EuroStoxx +0.54% FTSE +0.32% Dax +0.36% SMI +0.20%
Macro :
- Germany’s New Coalition Sets Out Plans to Green Economy Faster
- Fed Open to Faster Taper at Last Meeting Amid Inflation Concern
- U.K. Says France Not Doing Enough to Halt Migrant Crossings
Keep an eye on :
Keep an eye on :
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- G IM : Generali Enters Exclusive Talks to Buy Credit Agricole Unit
- GOGL NO : Shipping Companies Climb After Golden Ocean Tops Estimates
- JEN GY : Jenoptik to Sell Vincorion for Enterprise Value of EU130M
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- NDX1 GY : Nordex Gets Order for 177 MW Wind Farm From Peru
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- ORA FP : France’s Orange Hunts for New Leadership After CEO’s Conviction
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- SLHN SW : Swiss Life Plans CHF1B Share Buyback From Dec. 2021 to May 2023
- TIT IM : Draghi: Priority on Telecom Italia Is to Protect Jobs, Network
- VGP BB ;