Stocks in Asia traded in volatile session as investors assessed the latest economic development in China and South Korea’s plan to boost companies’ value. The MSCI Inc.’s Asia Pacific gauge erased most of its gains to move flat as Hong Kong and mainland China stocks fell. Concerns about China was a focus after 11 Chinese companies lost their credit ratings Friday at Moody’s Investors Service, which withdrew the scores in an unusual flurry that underscores fallout from record defaults. Traders are now waiting if the government will roll out more stimulus after President Xi Jinping on Friday called for a boost in boost the sales of traditional consumer products including cars and home appliances. Expectations of more stimulus were also fueled by weak borrowing by local governments, stirring speculations that Beijing may pick up their slack and take on more debt. South Korean stocks trimmed their losses after declining as much 1.4% on the authority’s plan to push listed companies to improve management and corporate governance, which some investors found as lacking details. apanese equities were outperformers as both the Tokyo Stock Price Index and the Nikkei-225 Stock Average gained, with the latter extending record highs. Japan trading house stocks rose after Warren Buffett said in his annual shareholder letter that the companies follow investor-friendly policies that are “much superior” to firms in the US. Contracts for US shares also declined after the S&P 500 rally stalled at the end of last week, weighed by profit taking in megacap tech stocks. Elsewhere, New Zealand’s dollar fell against all Group-of-10 currencies as traders weighed the nation’s monetary policy outlook. The US dollar edged up. Treasuries extended gains in Asia, while Australian 10-year yields dropped nine basis points. This week, investors will be bracing for the impact from heavy Treasury and corporate issuance and month-end positioning. There’s also a slate of economic data to be scrutinized, including the so-called core personal consumption expenditures price index on Thursday that’s the Federal Reserve’s favored inflation gauge. Federal Reserve Bank of New York President John Williams said in an interview published Friday that the economy is headed in the right direction, and it will likely be appropriate to cut rates later this year. A slew of Fed speakers this week are likely to reiterate William’s comments that the central bank doesn’t feel pressure to begin cutting rates anytime soon. In commodities, oil followed a weekly drop with further losses as traders awaited fresh clues about global demand and balances in March and beyond. Gold was slightly down while iron ore fell to the lowest since October — after dropping almost 9% last week — with hopes for a rebound in Chinese steel demand following the Lunar New Year holidays fading.
Nikkei +0.35% Hang Seng -0.57% CSI -1.04%% Shanghai -0.93% Shenzen +0.44%
Eur$ 1.0821 CNH 7.2050 CNY 7.1980 JPY 150.48 GBP 1.2666 CHF 0.8811 RUB 94.8670 TRY 31.1036 WTI$ 76.12 -0,50% Gold 2,033 -1% BTC 51,555 -0,40% ETH 3,107
S&P -0,21% Nasdaq -0,30% EuroStoxx -0,23% FTSE -0,15% Dax -0,14% SMI -0.17%
Macro :
- Goldman Strategists Say Bullish Sentiment Has Scope to Broaden
- CRE Risks Faced by US Banks ‘Manageable,’ Citigroup Analysts Say
- World’s Best Hedge Fund Bet Bumps Up Against a New Era of Risk
- World’s Best Hedge Fund Bet Bumps Up Against a New Era of Risk
- Investors Flee Tumbling EV Upstarts Once Hailed as ‘Next Tesla’
- Switzerland Says It Aims to Begin Ukraine Peace Talks By Summer
- Verdane Raises €1.1 Billion for Digital, Green Bets in Europe
Keep an eye on :
Keep an eye on :
- AA US : Alcoa Makes $2.2 Billion Bid for Australian Partner Alumina
- AVGO US : KKR Is Said to Near $4 Billion Deal for Broadcom Unit
- BRK/A US : Berkshire Hathaway 4Q Operating Income Beats Estimates
- BIOGASS SS : Biokraft Plans SEK650m Rights Issue to Repay Green Bonds
- CIE SM : CIE Automotive 4Q Net Income Misses Estimates
- DIS US : Disney, Reliance Said to Sign Binding India Media Merger Pact
- ECV GY : Encavis Buys Two Solar Parks in Spain; No Terms
- ENEL IM : Enel CEO Sees Debt in Line With Peers or Better in 2024: Ansa
- ERA FP : Indonesia Will Wipe Out Nickel Rivals, Eramet Head Says: FT
- XOM US : Pipeline & Gas: ExxonMobil Weighs Offers for Argentina Shale Assets, Source Says
- FER SM : Heathrow Airport Denies Plan for Third Runway Has Been Shelved
- F US : Ford Stops Shipping Electric F-150 Pickup Due to Quality Issue
- GS US : Goldman Strikes $1 Billion Private Credit Deal With Mubadala
- GSK LN : GSK, Gilead Eye 2027 HIV Patent Cliff Despite Long-Acting Push
- RMS FP : Vaucher Manufacture Fleurier, the independent watchmaker Parmigiani Fleurier and several other watch component suppliers have been put up for sale by their parent Sandoz Family Foundation (Miss Tweed)
- KINVB SS : Kinnevik’s TELE2 Stake Acquired by Freya Investissement
- LLBN SW : Liechtensteinische LB FY Oper Income CHF541.8M Vs. CHF503.2M Y/y
- MC FP : GM Seeks to Pair Up With Luxury Brands for a New European Push
- MKS LN : M&S puts payment to Ocado on hold over poor performance
- MBG GY : Mercedes-Benz Files Recall of 105,071 Vehicles: NHTSA
- NXT LN : Next Is Interested in Buying Parts of The Body Shop, Sky Reports
- NVDA US : Bezos, Nvidia Join OpenAI in Funding Humanoid Robot Startup
- OCDO LN : M&S puts payment to Ocado on hold over poor performance
- PNL NA : PostNL 2024 Normalized Ebit Forecast Misses Estimates
- RECSI NO : REC Silicon’s Moses Lake Inspected by Washington Labor Authority
- RENEW SS : Renewcell’s Board Decides to File for Bankruptcy
- SGO FP : Saint-Gobain Agrees to Buy CSR at A$9.00/Shr
- SGO FP : CSR Agrees to $3 Billion Takeover by French Rival Saint-Gobain
- SBBB SS : SBB Agrees JV Deal With Castlelake, Gets Over $500m in Proceeds
- SBBB SS : SBB Agrees JV Deal With Castlelake, Gets Over $500m in Proceeds
- SGL GY : SGL Carbon Evaluates Strategic Options for Carbon Fibers Unit
- LOCAL FP : Solocal Requests Conciliation Proceedings, Postpones Earnings
- SLC AU : Aussie Broadband Makes Non-Binding Offer to Buy Superloop
- STLAM IM : Stellantis Signs 500K Cars Multi-Billion Euro Deal With Ayvens
- TEL2B SS : Iliad’s Freya Investissement to Buy ~19.8% of Tele2 for ~SEK13B
- TEMN SW : Temenos Forms Special Committee to Oversee Hindenburg Review
- TSCO LN : British grocers ‘weaponise’ planning disputes to fend off Aldi and Lidl
- Thames Water : Thames Water’s Future Hangs on Ruling Over Investor Payouts
- 8TRA GY : Northvolt Reaches Stable Battery Deliveries After Ramp-Up Delays
- 2330 TT : Cathie Wood Doubles Down on AI Sales With Cut to TSMC Stake
- UBSG SW : Ant Outbids Citadel Securities for Credit Suisse’s China Unit
- VOD LN : Vodafone Advances After Betaville Issues ‘Uncooked Alert’