Shares in Asia slid while Treasury yields and the dollar rose in a sign investors are yet to fully recalibrate interest rate expectations. Equity benchmarks for Japan, Australia and China all fell while a decline in South Korean equities dragged the Kospi Index to a six-month low. Hong Kong’s Hang Seng Index also decreased, falling as much as 0.9%, its lowest level since late November. A gauge of Chinese property developers dropped after slumping by the most in nine months on Monday amid fresh signs of turmoil for the sector. China Evergrande Group missed a debt payment and former executives were detained. That added to fears about the sector’s debt pile and compounded concern that global growth will stall as the economic engine of the world’s second biggest economy sputters. Treasury yields continued to climb after the 10-year rate added 11 basis points to set a 16-year high on Monday to trade above 4.54%. The momentum flowed into Asia, with Australian and New Zealand yields also rising. Increasing yields supported the greenback. The Bloomberg dollar index held its gains from Monday, when it closed at the highest level since December. The yen steadied after weakening to a year low after Bank of Japan officials doubled down on the message that stimulus is still needed. A warning that a US government shutdown would reflect poorly on America’s credit rating from Moody’s Investors Service did little to shift market sentiment Monday. Concerns about a shutdown may intensify later this week as Oct. 1 draws near. Crude prices edged down Tuesday, falling for a second session. Traders are increasingly concerned that rising oil prices risk fanning inflation, which will make it difficult for policymakers to reduce rates anytime soon. Hedge funds boosted exposure to oil on bets tightening supplies will stoke demand. US After Hours Quiet after-hours session; COTY -4.4% on stock offering; THO -1.4% edges lower on mild FY24 guidance.
Nikkei -0.91% Hang Seng -0.94% CSI -0.34% Shanghai -0.20% Shenzen -0.16%
Eur$ 1.0586 CNH 7.3112 CNY 7.3105 JPY 148.87 GBP 1.2199 CHF 0.9132 RUB 95.83 TRY 27.2106 WTI$ 89.38 -0.33% Gold 1,913 -0.12% BTC 26,367 +0.25% ETH 1,591.85 +0.33%
S&P -0.35% Nasdaq -0.42% EuroStoxx -0.15% FTSE -0.05% Dax -0.05% SMI
Macro :
- Macron Is Pushing Europe Into a $900 Billion Fight With China
- Hedge Funds Cut Stock Leverage at Fastest Pace Since 2020 Crash
- Dimon Warns World May Not Be Prepared for Fed at 7%: TOI
- UAW President to Join Biden on Picket Line on Tuesday: CNN
- UAW President to Join Biden on Picket Line on Tuesday: CNN
- Oil Headed for $150 Absent Government Action, Shale CEO Says
Keep an eye on :
Keep an eye on :
- ABN NA : Dutch Government Cuts Stake in ABN Amro to Below 50%
- ADS GY : Nike Slips as Jefferies Cuts on Consumer Squeeze, China Woes
- ADM LN : Admiral Holder Offers 1.39m Shares via BofA Securities
- AIR FP : Indonesia vows to sue UK over Airbus corruption probe settlement
- AIR FP : Indonesia vows to sue UK over Airbus corruption probe settlement
- AIR FP : Air France-KLM to Buy 50 Airbus A350s in Widebody Renewal (1)
- AAD GY : Amadeus Fire to Repurchase Up to 5% of Outstanding Shares
- AAPL US : Apple’s FineWoven Fabric Emerges as Its Biggest Misfire of 2023
- BCART BB : Biocartis Creditors to Take Control in Recapitalization Plan
- ATEB BB : Atenor to Ask Holders to Approve €160.8M Capital Hike at €5.00
- CARLB DC : *CARLSBERG HOLDER BLACKROCK CUTS HOLDING TO 4.93%
- COTY US : Beauty Firm Coty Offers 33 Million Shares Ahead of Paris Listing
- CRH LN : CRH to Boost M&A Strategy in U.S. Amid Views for Growth, CEO Says
- DUNI SS : Duni’s Bid Committee Does Not Recommend Mellby Gard’s Offer
- EUZ GY : Eckert & Ziegler Signs Agreement for Supply of Lutetium-177
- IBE SM : *IBERDROLA, MAPFRE IN TALKS TO SELL INSURANCE JOINTLY: EXPANSION
- NOVN SW : Novartis’s Sandoz Gets EU Approval for MS Biosimilar Tyruko
- PDG LN : Farringdon Netherlands Holds 3.37% of Pendragon
- 1931 HK : Prada Drops After BofA Downgrades to Neutral on Demand Concerns -3.5% in HK
- UBI FP : Streaming will transform video games just like Netflix shook up TV, says Ubisoft
- UCB BB : UCB Gets Rystiggo, Zilbrysq Japan Approval for Myasthenia Gravis
- VIV FP : Vivendi Explores Sale of See Tickets Division: Sky News