Stocks in Asia received a fillip from Hong Kong-listed technology stocks, buoying sentiment after US stocks slid amid concern that the Federal Reserve will push the US into recession. A gauge of the region’s equities rose and was on course for its first advance in seven days. Benchmark indexes in Hong Kong and mainland China ticked higher after Chinese Premier Li Qiang said in a forum that the government will roll out more practical, effective measures to boost demand and expects faster economic growth in the second quarter. Japan and South Korean stocks remained lower. European and US equity futures gained slightly, shaking off weakness from Monday that saw the Nasdaq 100 fall 1.4% after suffering its worst week since March. The offshore yuan advanced after China set its daily reference rate for the managed currency at a stronger-than-expected level for a second day. The Australian dollar, which is sensitive to the growth outlook in China, rose 0.6%, leading gains versus the greenback among Group-of-10 currencies. US government bonds steadied Tuesday following unwinding of bets that the Federal Reserve will cut interest rates this year. The yen, meanwhile, continued to hover around 143.50 versus the dollar, a level that has caused concern for officials in Tokyo. Amid the renewed bout of yen weakness, Japan extended the term of its top currency official Masato Kanda for another year. Looking more broadly, investors have been growing more anxious that central banks determined to extinguish inflation will keep pushing rates higher and risk sending fragile economies into recession. That’s caused traders to finally relent on their bets that the Fed will cut rates this year after Chair Jerome Powell last week warned the US may need one or two more rate increases in 2023. In a late-night televised speech, Putin condemned leaders of the Wagner mercenary group as traitors to Russia. The comments did little to clarify the mystery around the weekend’s events or the fate of Wagner chief Yevgeny Prigozhin, who the Kremlin said had agreed to go to Belarus and avoid prosecution. Meanwhile, a positive sign emerged in the US-China relationship from a report that US Treasury Secretary Janet Yellen plans to visit Beijing in early July for the first high-level economic talks with her new Chinese counterpart He Lifeng. Still, the Biden administration expects to have an executive order ready as soon as July that would regulate and potentially bar some US investments in China. Oil edged higher on Tuesday after a choppy session following the armed uprising in Russia, a major OPEC+ producer. Gold also advanced. US After Hours AEL +7.3% up after Brookfield nears deal to buyout firm, according to Bloomberg; APLD -5.2% down after guiding MayQ revs below consensus.
Nikkei -0.53% Hang Seng +1.64% CSI +0.72% Shanghai +1.11% Shenzen +1.09%
Eur$ 1.0924 CNH 7.2186 CNY 7.2164 JPY 143.51 GBP 1.2732 CHF 0.8950 RUB 84.4852 TRY 26.0175 WTI$ 69.81 +0.63% Gold 1,928.5 +0.27% BTC 30,340 +0.59% ETH 1,870 +1%
S&P +0.26% Nasdaq +0.25% EuroStoxx +0.41% FTSE +0.37% Dax +0.36% SMI + 0.26%
Macro :
- China Fighter Jets Approached 24 Nautical Miles From Taiwan
- IMF to Make $519m Available to Costa Rica After Reviews
- July Fed Hike May Fail to Derail Treasuries From Bullish Course
Keep an eye on :
Keep an eye on :
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- AC FP : Accor FY Ebitda Forecast Beats Estimates
- ADE NO : Adevinta Names Elisabeth Peyraube as CFO to Succeed Raman
- ANDF NO : Andfjord Salmon Offering of 16m Shares Prices at NOK38.50/Share
- AML LN : Aston Martin to Hit £2b Revenue, £500m Ebitda Targets: Chairman
- CCL LN : Carnival Shares Tumble as ‘Solid’ Results Disappoint After Rally --> -7.6%
- EQT SS : EQT Seeks More Time to Close €20 Billion Flagship Buyout Fund
- EVK GY : Vallourec, Evonik to Develop Carbon Capture Tubular Solutions
- F US : Ford to Cut Hundreds of US Salaried Workers to Lower Costs
- HABA GY : Hamborner REIT Cuts NAV/Shr Outlook, Cites Lower Portfolio Value
- KER FP : Kering’s Creed Deal Clever, Still Room for More Purchases: React
- KER FP : Kering’s Creed Deal Clever, Still Room for More Purchases: React
- HLUNB DC : Lundbeck’s New CEO Tasked With Finding Acquisitions, JP Reports
- NCCB SS : NCC Gets Order in Norway Worth About SEK1b
- PST IM : Italy’s Poste May Sell Up to 50% of €700m Logistics Hubs: Sole
- SFL IM : Safilo, Tommy Hilfiger Renew Licensing Agreement Until 2030
- SAN FP : Sanofi Says Amlitelimab Meets Primary Endpoint in Phase 2b Study
- SPM IM : Saipem Wins Two Offshore Drilling Contracts Worth $550 Million
- TCM DC : TCM Group Offers 1.2m Shares via Carnegie Investment Bank
- TE FP : Technip Energies France Settles Over Technip SA Subsea Projects
- TKA AV : Fitch Assigns BBB- Rating to Telekom Austria’s Tower Spinoff
- TEP LN : Telecom Plus FY Revenue Misses Estimates
- TTE FP : TotalEnergies Partners With Petronas in Asia-Pacific
- TRI FP : Trigano 3Q Revenue Misses Estimates
- UCB BB : UCB’s Rystiggo Gets FDA Approval Under Priority Review
- UNA NA : Unilever CEO May Need Radical Hand for Results: Andrea Felsted
- VK FP : Vallourec, Evonik to Develop Carbon Capture Tubular Solutions
- VOW GY : Volkswagen Cuts Back Production of ID.4 Car: Nordwest Zeitung
- WDI GY : Singapore Sends Businessman to Jail for Role in Wirecard Fraud
- XIOR BB : Xior Holder ESHF Offers About 1m Shares via JPMorgan: Terms, priced @ EU25.53/Share
- ZAL GY : Zalando Files Complaint Against EU’s Digital Services Act: FT