Shares in Asia pushed higher after the government stepped up support for China’s economy and stock trading, buoying optimism. Metals rallied. Mainland China shares advanced while the Hang Seng Tech Index jumped by the most since the end of August, on the government’s support plans that include issuing additional sovereign debt and raising the budget deficit ratio. At the same time, Hong Kong is reversing an emergency increase in the stamp duty on stock trades as officials seek to revive the city’s status as a hub for finance and initial public offerings. In a speech Wednesday, Hong Kong Chief Executive John Lee detailed the policy and announced a plan to cut home purchase tax to 7.5% from 15% for non-residents as well as halving the tax for residents buying a second home. Property stocks climbed. A gauge of Asian equity benchmarks headed for the highest close in a week, as Japanese and Korean stocks related to China consumer and manufacturing demand rose. The equities, however, have since pared their gains. Benchmark indexes also traded higher in Japan, where shares of semiconductor-equipment company Kokusai Electric Corp. opened 15% above initial public offering price. Contracts for US equities slipped after the S&P 500 halted a five-day slide on Tuesday and followed mixed earnings that saw Microsoft Corp. climb and Alphabet Inc. drop in late US trading. In foreign exchange, the Thai baht advanced for a second day on the back of China’s plans, while aluminum, copper and iron ore all rose. Elsewhere, the Australian dollar extended its gain on higher-than-expected inflation data. Expectations the Reserve Bank of Australia will hike Nov. 7 pushed up the currency and sent the three-year government bond yield as high as 4.28%, a level last seen in 2011. Rates on two-year Treasuries were down five basis points and the dollar was weaker against most of its Group-of-10 peers. Bank of Japan officials are likely to monitor bond yield movements until the last minute before making a decision on whether to adjust the yield curve control program at a policy meeting next week, according to people familiar with the matter. The yen was little changed Wednesday. Investors looking to the US earnings season for a dose of good news are hanging their hopes on Big Tech. The five largest companies in the S&P 500 account for about a quarter of the benchmark’s market capitalization. Their earnings were projected to jump 34% from a year earlier on average, according to analyst estimates compiled by Bloomberg Intelligence. US business activity picked up in October after back-to-back months of stagnation, helped by a rebound in factory demand and an easing in service-sector inflation. Oil steadied on signs the Israel-Hamas war will remain contained for the time being. Gold edged higher. US After Hours MSFT +3.5% higher on earnings; GOOG -6.4%, MANH -5.6%, TXN -4.9%, V -1.6% lower on earnings.
Nikkei +1.15% Hang Seng +1.06% CSI +0.51% Shanghai +0.41% Shenzen +0.89%
Eur$ 1.0601 CNH 7.3130 CNY 7.3113 JPY 149.82 GBP 1.2170 CHF 0.8928 RUB 93.6129 TRY 28.1231 WTI$ 83.53 -0.25% Gold 1,972.35 +0.07% BTC 34,045 +1.17% ETH 1,786 +0.80%
S&P -0.32% Nasdaq -0.53% EuroStoxx -0.22% FTSE -0.05% Dax -0.09% SMI -0.22%
Macro :
- Otis Nears Mexico’s Coast as Deadly Category 5 Hurricane
- BofA Clients Post Three Straight Months of Inflows to US Stocks
- BofA Clients Post Three Straight Months of Inflows to US Stocks
- Country Garden Default on Dollar Bond Declared for First Time
Keep an eye on :
Keep an eye on :
- ACAD SS : Board of Academedia Proposes Voluntary Share Redemption Program
- AIR FP : Boeing Cash, 737 Goals at Risk After Delivery Drop: Preview
- AI FP : Air Liquide Invests €140M in Low-Carbon Gas Platform in Québec
- AI FP : Air Liquide 3Q Revenue Misses Estimates
- ALFA SS : Alfa Laval 3Q Adjusted Ebita Beats Estimates
- GOOGL US : Alphabet Cloud Unit Results Miss Estimates; Shares Fall
- AKZA NA : Akzo Nobel Sees FY Adjusted Ebitda EU1.45B
- AAPL US : Apple to Revamp TV App in Step Toward Simplifying Video Services
- ASM NA : Chip-Gear Maker ASM Sales Beat Estimates on Strong China Demand
- ASMI NA : ASMI Sees 4Q Revenue EU600M to EU640M, Est. EU613.9M
- ASC LN : Depressed E-Tailer Valuations, Funding Crunch Expose M&A Targets
- BEI GY : Beiersdorf Cuts FY Tesa Sales Outlook, Upgrades Consumer, Group
- BLV FP : Believe 3Q Revenue Misses Estimates
- BILL SS : Billerud 3Q Adjusted Ebitda Beats Estimates
- BNP FP : BNP, SocGen Need 3Q Retail Boost, as 10% FICC, Equity Cuts Loom
- BRAV SS : Bravida 3Q Net Sales Beats Estimates
- CLARI FP : Clariane SE 3Q Organic Revenue +8.3%
- COOR SS : Coor 3Q Net Sales Beats Estimates
- DSY FP : Dassault Systemes Boosts FY Non-IFRS EPS Forecast
- Decathlon : Decathlon Said to Weigh Stake Sale in $1 Billion China Arm
- DBK GY : Deutsche Bank 3Q Net Revenue Meets Estimates, Sees Goodwill Impairment on Numis in 4Q
- DWS GY : DWS 3Q Net Inflows Misses Estimates
- ELISA FH : Elisa Says Damaged Finland-Estonia Submarine Data Cable Is Fixed
- ELK NO : Elkem 3Q Ebitda Misses Estimates
- ENEL IM : Shareholder Yield of 6% Last Line of Soggy EU Utilities' Defense
- FORN SW : Forbo Cuts FY Guidance Amid Negative Currency Effects, Markets
- FDJ FP : French Gambling Firm Mulls Payment Offering in Diversification
- GRF SM : Grifols’ Araclon: ‘Encouraging’ Final Results From ABvac40 Trial
- GTT FP : GTT 9M Revenue EU300.0M Vs. EU222.0M Y/y
- HEI NA : Heineken 3Q Total Beer Volume Misses Estimates
- HOLMB SS : Holmen 3Q Net Sales Meets Estimates
- IBE SM : Shareholder Yield of 6% Last Line of Soggy EU Utilities' Defense
- INTRUM SS : Intrum 3Q Revenue Beats Estimates
- IG IM : Italgas 3Q Revenue Beats Estimates
- KER FP : Kering Slows Beyond Gucci to Force Consensus Margin Cut: React
- KNEBV FH : Kone Reports 3Q as Construction Slowdown Weighs: Preview
- KCR FH : Konecranes 3Q Adjusted Ebita Beats Estimates
- KNIN SW : Kuehne + Nagel 3Q Net Revenue Misses Estimates
- KPN NA : KPN 3Q Adjusted Ebitda After Leases Meets Estimates
- LAGRB SS : Lagercrantz 2Q Net Revenue Misses Estimates
- LAND SW : Landis + Gyr 1H Ebitda $99.8M Vs. $51.0M Y/y
- MELE BB : Melexis 3Q Gross Margin Beats Estimates
- ML FP : Michelin’s Price/Mix Helps Offsets Volume Declines: Street Wrap
- MSFT US : Microsoft Rallies on Results, Lifting Cloud Software Stocks
- MTGB SS : MTG Boosts FY Adjusted Ebitda Margin Forecast
- NEOEN FP : Neoen, Alight Launch Construction of 100 MWp Sweden Solar Farm
- NEX FP : Nexans 3Q Revenue Misses Estimates
- TYRES FH : Nokian 3Q Miss, Lowered View Could Spur 15% Consensus Cut: React
- NYKD NO : Nykode Therapeutics Offering Prices at NOK17.10/Share
- OVH FP : OVH FY Adjusted Ebitda Meets Estimates
- PAH3 GY : Porsche AG 9M Operating Profit EU5.5B Vs. EU5.05B Y/y, High-Margin Models Offset Deliveries Drop in China
- RKT LN : Reckitt 3Q Like-for-Like Sales Misses Estimates, ANNOUNCES SHARE BUYBACK OF £1B OVER THE NEXT 12 MONTHS
- RILBA DC : Ringkjoebing Landbobank 9M Total Income DKK2.79B
- SAF FP : GE, Safran Find More Jet Engines With Bogus Parts in AOG Probe
- SFQ GY : SAF-Holland Rises; Analyst Cites Positive Data on Trailer Orders
- SAN SM : Santander 3Q Net Income Beats Estimates
- SEBA SS : SEB 3Q Net Interest Income Meets Estimates, SEB to Initiate New Program to Buy Back SEK1.25B Shares
- GLE FP : BNP, SocGen Need 3Q Retail Boost, as 10% FICC, Equity Cuts Loom
- STLAM IM : Stellantis to Lay Off 525 More Workers Due to UAW Strike Action
- SUN SW : Sulzer Backlog CHF2.2B
- SY1 GY : Symrise 3Q Organic Sales Beats Estimates
- TTK GY : Takkt 3Q Ebitda EU30.2M
- TEMN SW : Temenos Boosts FY Non-IFRS Ebit Forecast
- TXN US : Texas Instruments Falls as Revenue Guidance Misses: Snapshot
- 8TRA GY : Traton Boosts FY Adjusted Operating Margin Forecast
- UN01 GY : Germany’s Uniper Raises Profit Estimate as Hedging Pays Off
- VIV FP : Vivendi Prepares to Challenge TIM Grid Sale in Court:Reuters
- VIV FP : Vivendi Publishing M&A Merits Consensus-Profit Lift: BI Focus
- VPK NA : Vopak FY Adjusted Ebitda Forecast Meets Estimates
- WLN FP : Worldline Cuts FY Organic Revenue Forecast