Asia equities fell Monday in seesawing trade after heavy selling on Wall Street late last week as investors ratcheted up forecasts for US interest rates following hot inflation data. Declines for shares in Australia, South Korea and China weighed on a gauge of the region’s stocks. Hong Kong’s Hang Seng Index approached levels that would wipe out its 2023. Japanese stocks fluctuated. US futures eased from their earlier highs to be up marginally after Friday’s slump of more than 1% for the S&P 500 and Nasdaq 100, which each suffered their worst week since December. European equity futures inched up. Investor jitters over riskier assets follows an unexpected acceleration in January of the personal consumption expenditures price index, the Federal Reserve’s favored inflation gauge. The PCE data release Friday prompted a swift repricing of interest rate forecasts, with traders now pricing US rates to peak at 5.4% this year, compared to a expectations held just a month ago of rates to peak at less than 5%. The yen strengthened against the dollar after a sharp fall on Friday. Bank of Japan Governor nominee Kazuo Ueda spoke again in the Japanese parliament without any large reverberation in markets. Inflation data released last week showed prices in the nation were rising at the fastest pace in four decades, placing pressure on the central bank to reassess its loose policy settings. Data due later in the day will provided extra context for the global economic outlook. Eurozone economic and consumer confidence is due, along with durable goods data from the the US. Oil steadied as concerns that the Fed will keep on raising interest rates to combat inflation balanced out a supply disruption in Europe and optimism over a demand recovery in China. Gold was also steady. Iron ore sank following an order by Chinese authorities to cut production in its major steelmaking hub in a bid to curb pollution.
Nikkei -0,11% Hang Seng -0,56% CSI -0,42% Shanghai -0,28% Shenzen -0,73%
Eur$ 1,0542 CNH 6,9824 CNY 6,9643 JPY 136,34 GBP 1,1939 CHF 0,9145 RUB 75,7175 TRY 18,8686 WTI$ 75,93 -0,55% Gold 1,808,55 BTC 23,393 -0,70% ETH 1,634
S&P +0,04% Nasdaq +0,16% EuroStoxx +0,02% FTSE +0,30% Dax -0,10% SMI
Macro :
- Europe Banks on Its €72 Billion to Counter Biden’s Green Payouts
- Debt Restructuring Talks at G-20 Meeting Make Little Headway
- Caisse CEO Says He’s Looking to Hire as Credit Bargains Abound
- Ukraine Latest: Putin Says Weapons Aid Makes NATO ‘Participant’
- France to Enforce Water ‘Sobriety Plan’ Amid Severe Drought Risk
- Argentina to Change IMF Net Reserve Target for Third Time
- Watch Lithium Stocks in US as China Probe Shuts Down Some Supply
Keep an eye on :
- AIR FP : Airbus Sees Australia, Pacific Buying 920 Jets in Next 20 Years
- AKTIA FH : Aktia Bank CEO Ayub to Leave Firm With Immediate Effect
- ASML NA : Ex-ASML Worker Accused of Theft Being Probed for China Ties
- BRK/A US : Berkshire Posts Record Operating Earnings Amid Economic Turmoil
- BX US : Blackstone Is Said to Plan European Infrastructure Fund
- BX US : Blackstone’s Schwarzman receives over $1bn for second straight year
- CVNA US : Carvana’s Tale of Debt and Losses Looks a Lot Like Old Hertz
- CAV1V FH : Caverion Board in Talks With Both Triton, Bain Consortium
- CTXS US : Banks to Sell $3.95b of Citrix Junior Debt in Coming Weeks: FT
- CPA1 NA : Michael Tobin’s Crystal Peak and IMC Terminate Merger Agreement
- DANSKE DC : Danske Bank Sells Job Platform TheHub to Mesh Community
- GLW US : The company is among five companies identified by Barron’s as benefiting from a clean-energy manufacturing boom.
- CVT US : Cvent Rejects $8/Share Offer From Blackstone: Reuters
- DEME BB : DEME Group FY Ebitda Beats Estimates
- EDF FP : French Power Shortage Risks are Reduced for Rest of Winter: Grid
- ELE SM : Endesa Would Accept Tax on Extra Gas Profit, Not on All Revenue
- FDR SM : Fluidra FY Net Income Misses Estimates, Sees 2023 Sales EU2.00B to EU2.20B, Est. EU2.2B
- GS US : Goldman Turns to ‘Make-or-Break’ Unit as CEO Solomon Put to Test (Investor Day 28/02)
- HLN LN : GSK Spinoff Haleon Is Said to Explore Sale of ChapStick Brand
- HBH GY : Hornbach Boards Extend CFO Karin Dohm’s Contract for Five Years
- LAC US : company can move ahead with building a mine in Nevada, after a judge denied a request by opponents of the project to halt construction.
- LIN GY : Linde Shares Rise in US at Europe Close Amid DAX Index Exit
- PFE US : Pfizer Treatment Granted Orphan Drug Status by FDA
- MC FP : Billionaires Spy Opportunity to Take Luxury Hotels Into Cruises
- MAN US : Manchester United Bidders Urged to Increase Offers: FT
- META US : Meta Introducing AI Large Language Model Called ‘Llama’
- MS US : Morgan Stanley Says Trading Probes Focus on Information Sharing
- NE US : Noble Corp. 2023 Adjusted Ebitda Forecast Misses Estimates
- NOKIA FH : Nokia Switches Logo Because People Think it Still Makes Mobiles
- NOKIA FH : Hewlett Packard Enterprise, Nokia Sign MOU to Expand Partnership
- PFE US : Pfizer in Early Stage Talks to Buy Seagen: WSJ (1)
- PXD US : Pioneer Natural Resources Says It’s Not Contemplating a Deal
- PNL NA : PostNL 4Q Revenue Misses Estimates
- SAN FP : Sanofi Says Altuviiio Approval Triggers Impairment ReversalSanofi Says Altuviiio Approval Triggers Impairment Reversal
- SGEN US : Pfizer in Early Stage Talks to Buy Seagen at more than $30b valuation, closed at $28,5b EV Friday.
- SESG FP : SES 4Q Adjusted Ebitda Misses Estimates
- SHA GY : Schaeffler Divesting Russian Business, CEO Tells Welt am Sonntag
- SHEL LN : Shell Considers Extending Outage at QCLNG Plant Due to Gas Leak
- STAN LN : Standard Chartered in Talks to Lend on Behalf of First Boston
- STLA IM : Stellantis CEO Pay Fell 14% to 14.9 Million Euros in 2022
- SREN SW : Fortune Favors the Brave as Swiss Re Capitalizes on Price Hikes
- TGNA US : Tegna Buyout Shelved by FCC Order Sending Deal to Hearing (-20% post Market)
- HO FP : France’s Thales Plans to Hire 12,000 As Defense Orders Surge
- TSLA US : Tesla Investor Gerber to Drop Bid for Board Seat at EV Maker (1)
- UCG IM : UniCredit Could Raise CEO Orcel’s Pay by as Much as 40%: Sole
- UNP US : Soroban Capital Partners Pushes to Oust Union Pacific CEO: DJ