A gauge of Asian shares was on course to snap a three-day losing streak, buoyed by the tech sector, while US equity futures slipped after artificial intelligence stocks fueled a sharp rally in the prior session. Benchmark indexes rose in Japan, South Korea, India and Australia, while those for mainland China fell. Hong Kong’s market was closed Friday for a public holiday. It was the second day of gains for chip stocks in the region following a bullish sales forecast from Nvidia Corp. late Wednesday that ignited a frenzy of interest in AI. Among notable moves in Asia, Japan’s Screen Holdings Co. surged as much as 9%, South Korea’s SK Hynix Inc. jumped 5.5% and Taiwan Semiconductor Manufacturing Co. advanced 4.6%. The AI rally continued after hours in the US, when Marvell Technology Inc. projected 2024 revenue from the technology will at least double from a year ago. Earlier, shares of Nvidia soared 24%, propelling the company to the cusp of a $1 trillion market value. Yields on treasury-bills slated to mature early next month were off recent highs while still showing that investors demand a premium on securities seen most at risk of non-payment if the government exhausts its borrowing capacity. The yen strengthened slightly versus the greenback while remaining near 140 level. The Japanese currency has depreciated amid bets that the Federal Reserve will hike rates within the next two policy meetings while its counterpart in Tokyo sticks with ultra-loose policy. Data Friday indicated slowing inflation in Tokyo, which supports expectations for continued divergence between the Bank of Japan and the Fed. This keeps a lid on the yen and in turn helps Japanese stocks. The debt-ceiling wrangling in Washington adds to the risks assessed by Fed officials as they consider pausing interest rate increases. Wagers for another quarter-point hike within the next two policy meetings came amid mixed data on Thursday, including a higher revised first-quarter GDP and fewer-than-expected jobless claims. oil was steady after falling more than 3% on Thursday as Russia suggested OPEC+ wasn’t likely to change production levels at its next meeting. Copper and iron ore have both breached key levels this week, pulling down the Bloomberg Commodity Index. US After Hours MRVL +17.8%, GPS +14.4%, WDAY +7.9% higher on earnings; ULTA -7.3%, DECK -2.7%, RH -2.2%, COST -0.2% lower on earnings.
Nikkei +0.64% Hang Seng -1.93% CSI +0.11% Shanghai +0.46% Shenzen +0.31%
Eur$ 1.0738 CNH 7.0707 CNY 7.0592 JPY 139.74 GBP 1.2334 CHF 0.9046 RUB 80.1219 TRY 19.9953 WTI$ 71.74 -0.13% Gold 1,948.33 +0.36% BTC 26,422 -0.25% ETH 1,807 -0.14%
S&P -0.13% Nasdaq -0.09% EuroStoxx +0.14% FTSE +0.05% Dax +0.06% SMI +0.11%
Macro :
- CITI STRATEGISTS CUT CHINA OVERWEIGHT, GO UNDERWEIGHT EU STOCKS
- CITI STRATEGISTS LIFT US EQUITIES TO NEUTRAL FROM UNDERWEIGHT
- UK Regulator Probes Sustainable Loans Market: FT
- UK Regulator Probes Sustainable Loans Market: FT
- Equal-Weighted Index Is Not a Harbinger of Doom for US Stocks
- Britain Loses its Luster for Job Seekers From Poland to Portugal
- Iron Ore Can Go Lower
Keep an eye on :
Keep an eye on :
- ALTR PL : Altri 1Q Net Income EU19.6M Vs. EU29.8M Y/y
- ASC LN : Asos to Conduct Equity Raise of £75m Placing, £5m Retail Offer
- ATO FP : Atos Gets Cash Cushion for Spin in Cognizant Damages Trim: React
- BG US : Glencore’s Viterra Said in Merger Talks With Grain Rival Bunge
- BWLPG NO : BW LPG CFO Elaine Ong Steps Down
- CO FP : Casino Says Paris Court to Open Conciliation Proceedings
- CO FP : Les Mousquetaires to Take €100M Equity Stake in Casino
- COFA FP : Coface 1Q Net Income EU61.2M Vs. EU52.3M Y/y
- OLE SM : CVC Taps Lazard to Seek Investor for Olive Firm Deoleo: Cinco
- DTE GY : Deutsche Telekom Exposed If Dish's Amazon Plan Goes Ahead: React
- EQNR NO : Statfjord A Production Shut After Gas Alarm Triggered, BT Says
- ERICB SS : Record $279 Million Whistleblower Award Went to a Tipster on Ericsson -- WSJ
- ERICB SS : Record $279 Million Whistleblower Award Went to a Tipster on Ericsson -- WSJ
- Florence Group : Permira Buys Majority Stake in Florence Group
- GLEN LN : Glencore’s Viterra Said in Merger Talks With Grain Rival Bunge
- INPST NA : Advent International to Sell 15% Stake in InPost to PPF Group
- ISN SW : Intershop Group CFO Thomas Kaul to Leave Company in 1H of 2024
- LHA GY : Italy Agrees to Sell ITA Airways Stake to Lufthansa
- ORP FP : Orpea Sells Latvia Operations to Adoro SIA; No Terms
- PSM GY : ProSieben 1Q Adj. Ebitda Misses Estimates, FY Outlook Confirmed
- SFQ GY : SAF-Holland SE Maintains FY Sales Forecast
- SAN FP : Sanofi Board Names Frederic Oudea as Chairman After AGM
- SAN SM : Smartfit Says Banco Santander Brazil Joins Banks in Patria Offer
- TSLA US : Tesla Probed in Europe for Suspected Data Lapse: Handelsblatt
- TLRY US : Tilray Brands Prices $150m of Unsecured Convertible Notes -17%
- UQA AV : Uniqa 1Q Gross Written Premiums EU1.98B Vs. EU1.86B Y/y
- DG FP : Avoiding Water Scarcity Creates Long-Term Investment Opportunity