Asian stocks were mostly lower on Wednesday following a sell-off on Wall Street as investor optimism cooled with regard to the Federal Reserve being on the brink of lowering interest rates and the U.S.-China trade talks getting back on track.
Japanese shares slid and benchmarks fell at the open in Shanghai and Hong Kong. Australia and South Korea saw more limited moves, while futures on the S&P 500 Index were little changed. American stocks dropped the most this month after Federal Reserve Chairman Jerome Powell warned the downside risks to the U.S. economy have increased, while not going beyond his previous guidance on rate cuts. Ten-year Treasury yields held around 2%, crude oil prices climbed on supply concerns, and gold gave up some recent gains. New Zealand’s dollar fluctuated after its central bank left rates unchanged.
US After Hours AVAV -9.4%, MU +9%, SNX +4%, FDX +1% following earnings/guidance --> Watch Semi in Europe
Nikkei -0.59% Hang Seng +0.05% CSI -0.19% Shanghai -0.23% Shenzen +0.04%
Eur$1.1360 CNHH 6.8892 CNY6.8886 JPY 107.46 GBP 1.2676 CHF 0.9761 RUB 62.8747 TRY 5.8057 WTI$58.95 +1.92%
S&P -0.05% EuroStoxx -0.35% FTSE -0.26% Dax -0.37% SMI -0.25%
Macro :
- Powell Reiterates Stronger Case for Cut Amid Economic Risks
- Trump Says U.S. Will Use ‘Overwhelming Force’ If Iran Attacks
- Draghi Tests Legal Limits Again With Claim of QE Flexibility
Keep an eye on :
- ARCAD NA : Arcadis JV Gets A$26m Sydney Metro City & Southwest Contract
- BATS LN : San Francisco Becomes First U.S. City to Pass an E-Cigarette Ban
- ALCRRB FP : Carbios Sells EU14.5 Million of New Shares to L’Oreal, Others
- CLNX SM : Aggressive Dealmaking Drives Europe’s Most Expensive Stock
- CNP FP : French Market Regulator Grants Waivers for CNP Transactions
- FGP LN : Coast Capital to Pursue a FirstGroup Board That Acts for Holders
- GEN DC : Genmab Says BlackRock Cut Total Stake to 4.97%
- HBMN SW : HBM Healthcare Investments Starts New Share Buyback Program
- IMMO BB : Immobel CEO Leaves Belgian Developer as Galle Expands Management
- IMB LN : San Francisco Becomes First U.S. City to Pass an E-Cigarette Ban
- JST GY : JOST Werke Holders Bain, Black Diamond Capital to Exit: Terms
- KAHL SS : Kappahl Says More Measures Needed to Change Sales Trend
- KPN NA : KPN CEO Leaving Dutch Carrier to Run Comcast's Sky Italia
- LLQ SW : Lalique to Raise EU48m in Rights Offer as Denz Cedes Some Shares
- LOEK GY : Loewe to cease operations; search for investor continues
- KN FP : H2O Saw Assets Fall $3 Billion as Slump Deepened Into Fourth Day
- NIBC NA : NIBC Notified by Central Bank on Outcome of Model Investigation
- NYR BB : Nyrstar CEO Hilmar Rode to Leave Co. After Restructuring: L’Echo
- ALONC FP : Oncodesign Identifies a RIPK2 Inhibitor at Pre-Candidate Stage
- ORI SS : Walnut Bidco declares the offer for Oriflame unconditional and will acquire all tendered shares
- RNO FP : Japan SESC to Seek Fine for Nissan Over Ghosn's Pay, Asahi Says
- RNO FP : Renault’s Senard Said No Discussions W/ Fiat Ongoing Now: Echos
- RXL FP : Rexel Forms Golden Cross; Remains in Long-Term Downtrend
- RDSA LN : Shell Signs Agreement in Somalia to Repay Old Debts
- SU FP : Schneider Electric Confirms FY and 2021 Targets
- SSG NO : Self Storage Offering Prices 13m Shares at NOK19.25/Share
- TFI FP : TechnipFMC Agrees to Pay $301.3 Million to Resolve Bribery Case
- TIT IM : Telecom Italia Mulls Flash Fiber, Open Fiber Merger Option: Rtrs
- UBSG SW : UBS CEO Says He Feels a `Biting Headwind' From Swiss Regulators
- VALN SW : Valora Adjusts FY Profit Targets on IFRS 16 Accounting Changes
- VOW3 GY : Traton Gray-Market Trades Hint Pricing Below Midpoint: ECM Watch
- YAR NO : Yara Evaluating IPO of Industrial Nitrogen Businesses
- WDI GY : Expands regional business partnership with Amway to boost its payment capabilities across Asia Pacific