Asian shares were mixed in cautious trading as investors prepared for a full slate of economic data and remarks from Federal Reserve speakers in coming days that will help determine the outlook for interest rates. Japan’s two-year bond yield climbed to the highest level in more than a decade. Equities dropped in Japan, South Korea and Taiwan, while most Chinese shares rose. The S&P 500 slipped for the first time in four days on Monday as its recent rally ran out of steam before data later this week including the Federal Reserve’s favored inflation gauge on Thursday. US stock futures edged lower. Japan’s two-year yield climbed to the highest since 2011 after stronger-than-expected inflation data boosted bets the central bank will end its negative-interest-rate policy in coming months. Traders increased the probability of Bank of Japan exiting its negative rate policy by April to about 81%, up from 78% on Monday, according to swaps data compiled by Bloomberg. The yen gained versus the dollar. Asia’s equity benchmark is heading for a monthly gain, driven by a rally in Japanese and Chinese markets. There is still plenty of uncertainty in markets though over factors such as the path of potential Fed rate cuts, the likelihood for more support measures from China, and whether shares valuations are attractive enough to underpin further gains. In China, state-backed funds have poured more than 410 billion yuan ($57 billion) into onshore shares this year in a bid to prop up the market, according to estimates by UBS Group AG, which expects further purchases. The Swiss bank based its calculations on “excess” transactions of 54 Chinese exchange-traded funds. Fast-fashion company Shein is considering the possibility of switching its initial public offering to London from New York because of hurdles to the listing in the US, according to people with knowledge of the matter. Shein, which was founded in China, is now headquartered in Singapore.
Samsonite International SA is considering options after receiving takeover interest from suitors including buyout firms, people familiar with the matter said. Elsewhere, Bitcoin briefly climbed back over the $57,000 level for the first time since late 2021, supported by investor demand through exchange-traded funds as well as further purchases by MicroStrategy Inc.
In commodities, global benchmark Brent traded above $82 a barrel after rising on Monday, while gold steadied near a two-week high as the market waited for more clues on when the Fed will start cutting interest rates. US After Hours PUBM +31.9%, HIMS +19%, TREX +8% up big on earnings; AAN -28.2%, U -16.4%, WDAY -8.9% selling off following quarterly results.
Nikkei +0.02% Hang Seng -0.10% CSI +0.53% Shanghai +0.61% Shenzen +1.27%
Eur$ 1.0849 CNH 7.2113 CNY 7.1983 JPY 150.47 GBP 1.2679 CHF 0.8800 RUB 92.4326 TRY 31.1309 WTI$ 77.63 +0.06% Gold 2,033 +0.11% BTC 56,125 +2.69% ETH 3,216 +0.97%
S&P -0.08% Nasdaq -0.18% EuroStoxx -0.23% FTSE -0.18% Dax -0.21% SMI
Macro :
- China Vanke’s Bonds Slide After Report on Talks to Extend Debt
- Ex-Clean Energy Transition Hedge Fund Partner to Launch New Firm
- Ex-Clean Energy Transition Hedge Fund Partner to Launch New Firm
- JPMorgan’s Kolanovic Says Profits Peaking, Earnings Snag Ahead
- Shein Said to Consider London IPO Amid US Resistance to Listing
- Convertibles Notch $5.2 Billion Week, Best in a Year: ECM Watch
Keep an eye on :
- AC FP : Accor, Dubai Holding in Talks to Fund €800m Superyachts: FT
- AIR FP : FAA Releases Report on Boeing Safety Culture
- APGN SW : JCDecaux, Pargesa Seek to Sell 55% Stake in APG/SGA
- ATUS US : Charter-Altice USA Deal Would Add Scale But Pile On Debt: React
- AZN LN : FibroGen, AstraZeneca End Roxadustat Pact for US, Other Areas
- BOBNN SW : Bobst FY Ebit CHF147.2M
- BCP PL : BCP FY Net Income Beats Estimates, Chairman Says Bank is Focused on Organic Growth
- BCP PL : BCP FY Net Income Beats Estimates, Chairman Says Bank is Focused on Organic Growth
- 1211 HK : Italy Reached Out to China’s BYD in Search of Another Carmaker
- CO FP : Casino Restructuring Plan Approved by Paris Commercial Court
- Douglas IPO : Germany’s Douglas Plans to Announce IPO in Coming Days: Reuters
- EDEN FP : Edenred FY Ebitda Beats Estimates
- GSK LN : Aprinoia Files to Offer 2m Shares at $10 to $14/shr in IPO
- GTT FP : GTT Sees 2024 Ebitda EU345M to EU385M, Est. EU346.4M
- HESC LN : Exxon Considers Pre-Emption Rights to Hess Guyana Oil Stake
- IBE SM : Iberdrola closes the sale of 55% of its business in Mexico for $6.2 billion dollars
- ISN SW : Intershop FY Vacancy Rate 7.4% Vs. 10% Y/y
- DEC FP : JCDecaux, Pargesa Seek to Sell 55% Stake in APG/SGA
- MUV2 GY : Munich Re Plans 2023 Dividend of EU15/Shr
- NCOD NO : Norcod Says NOK124.9M Already Fully Covered for Placement
- PARG SW : JCDecaux, Pargesa Seek to Sell 55% Stake in APG/SGA
- PSPN SW : PSP Swiss Sees 2024 Adj. Ebitda Above CHF295M, Est. CHF293.7M
- PEUG FP : SEB Holder Peugeot Invest Offer 2.22m Shares
- PRY IM : Prysmian in ~€1.9b Contract With Eastern Green Link 2 Ltd
- 1910 HK : Samsonite Is Said to Consider Options Amid Takeover Interest (1)
- SHA GY : Schaeffler to Invest Over $230m in Ohio Automotive Facility
- SK FP : SEB Holder Peugeot Invest Offer 2.22m Shares
- SIGN SW : SIG Group FY Adjusted Ebitda Meets Estimates
- GLE FP : Societe Generale Extends Night Shift as US Trading Speeds Up
- STMN SW : Straumann FY Revenue Matches Estimates
- TSLA US : SpaceX Gets List of Starship Upgrades Needed Before Launch
- WPP LN : WPP Creative-Led Strategy Revamp Still Leaves Growth Conundrum
- ZEAL DC : Zealand Pharma FY Revenue Beats Estimates