Asian shares declined after the largest US tech companies dropped in late US trading. The yen stabilized following a Wednesday slide that triggered fresh speculation officials will step in to support the currency. Stocks in Japan, Hong Kong, South Korea and China all declined, putting the MSCI Asia Pacific gauge on course for its first loss in three days. US equity futures slipped after big tech was hit by Micron Technology Inc.’s outlook that failed to meet the lofty expectations for the industry that has powered the bull market in stocks. The yen gained as much as 0.3% after sliding 0.7% on Wednesday when it touched 160.87 per dollar, the weakest since 1986 and well past the level where officials intervened in April. The currency has lost about 12% against the greenback this year. An emerging-market currency gauge dropped to near its lowest in two months and a gauge of Asian currencies fell to levels last seen in 2022 as the dollar strengthened. Treasuries extended their recent declines on concern Friday’s US PCE data will show inflation remains elevated. Micron Technology shares slumped after the maker of computer memory chips projected sales that trailed the estimates of some investors. The news dragged down some chipmakers including giant Nvidia Corp. Also after Wall Street’s close, the Federal Reserve said the biggest US banks passed the annual stress test, paving the way for higher shareholder payouts. The recent market attempt to broaden out of the megacap group was short-lived, with a bevy of measures still showing how market breadth remains weak — boosting uncertainty about the rally’s staying power. Bifurcation between S&P 500 performance and breadth has reached one of the worst levels in three decades, according to Bloomberg Intelligence. Elsewhere, Asia Pacific companies and governments’ sales of dollar bonds in the primary market hit a nine-month high this week, as issuers look to lock in historically tight spreads before they climb further. The Korean government and other issuers sold more than $5.5 billion of notes on Wednesday, pushing the week’s tally close to $14 billion, according to data compiled by Bloomberg.
In commodities, gold steadied after a two-day decline, while oil traded in a narrow range ahead of the next round of US economic data. US After Hours Fed Stress Tests came out, all 31 large banks have sufficient capital; LEVI -11.3%, MU -7.1%, AVAV -6.9% lower on earnings; IIIV jumps +26.3% on deal to sell merchant of record payments business; VRNA +22.4% on FDA approval.
Nikkei -0.94% Hang Seng -2.16% CSI -0.64% Shanghai -0.71% Shenzen -1.28%
Eur$ 1.0692 CNH 7.2989 CNY 7.2687 JPY 160.36 GBP 1.2632 CHF 0.8968 RUB 88.2500 TRY 32.8337 WTI$ 80.69 -0.26% Gold 2,300 +0.07% BTC 61,069 +0.20% ETH 3,380 -0.30%
S&P -0.22% Nasdaq -0.29% EuroStoxx +0.10% FTSE -0.09% Dax +0.00% SMI +0.12%
Macro :
- Traders Think Shift From Exchange to Alternative Venues Has Legs
- US Convertible Bond Boom to Near Covid-Era Peak, Barclays Says
- US Convertible Bond Boom to Near Covid-Era Peak, Barclays Says
- Andurand Ditches Famed Oil Trades for Copper and Cocoa
- Goldman’s ETF Platform Launches AI-Driven Fund in Europe
- Yuan in No-Win Situation Facing Tariff Threat: Macro Models
Keep an eye on :
Keep an eye on :
- AIBG ID : *AIB GROUP OFFERING PRICES AT €4.90/SHARE: TERMS
- ASRNL NA : ASR Nederland Targets €525M in Buybacks Over 2024-2026
- B US : Barnes Group Is Said to Explore Options Including Sale
- B US : Barnes Group Is Said to Explore Options Including Sale
- BA US : Boeing Faces New Whistleblower Claims of Lapses on Some 787 Jets
- BIRK US : L Catterton Group Raises $756 Million in Birkenstock Share Sale ($54/share)
- CPR IM : Italy Probes Campari’s Lagfin for Alleged Unpaid Tax: Ansa
- CPR IM : Campari Says It Isn’t Under Investigation by Authorities
- EDP PL : EDP Agrees to Sell €100m of 2023 Electricity Tariff Adjustment
- FGR FP : Eiffage, SPIE, ABC to Provide Backup Generators for EDF
- ENI IM : ENI Sells Alaska Upstream Assets to US Hilcorp
- EAPI FP : Euroapi to Amend €415M RCF, Expects Sanofi Bond Investment
- G IM : Generali Changes Denomination of Share on Stock Exchange
- G IM : Italy’s Generali Mulls Investment in Singapore’s Bolttech: MF
- GMAB DC : Genmab Says Epkinly Gets US Approval for Lymphoma Treatment
- GSK LN : GSK May Fall After US Decision on Respiratory Vaccine: Jefferies
- HMB SS : H&M 2Q Gross Margin Beats Estimates
- Helsing : German AI defence start-up Helsing poised to triple valuation to $4.5bn
- IP US : Suzano Won’t Pursue Transaction to Acquire International Paper
- KN FP : Natixis CIB, Woori Bank Sign Pact on Global Private Debt Funds
- NKE US : Nike Investors Await Details of New 2025 Products: Preview
- NOVOB DC : Novo Kidney Drug Bust Has Little Long-Term Growth Impact: React
- NOVOB DC : Novo Puts Temporary Hiring Freeze on Some Divisions, JP Says
- OHLA SM : OHLA Says Board Approved €100m Capital Increase
- OVH FP : OVH 3Q Revenue EU250.8M Vs. EU227.9M Y/y
- RKT LN : Bluebell Says Reckitt Shares Poised to Double After Taking Stake
- RNO FP : Renault Open to Chinese Auto Partnerships: Brand CEO Cambolive
- RIO LN : How a shake-up could unlock $40b for Rio Tinto investors
- SGO FP : Saint-Gobain to Buy FOSROC for $1.03B in Cash
- SAN FP : Euroapi to Amend €415M RCF, Expects Sanofi Bond Investment
- 9984 JP : SoftBank to Back AI Startup Perplexity at $3 Billion Valuation
- SPACE X IPO : SpaceX Tender Offer Said to Value Company at Record $210 Billion
- SPIE FP : Eiffage, SPIE, ABC to Provide Backup Generators for EDF
- TEL2B SS : Tele2 Gets €140m Loan From the European Investment Bank
- TSLA US : Tesla ordered to stop releasing toxic emissions from San Francisco Bay Area plant
- TGS NO : TGS to Start Mutliclient Onshore Survey in US Appalachian Basin
- VRNA US : Verona Pharma Announces US FDA Approval of Ohtuvayre™ (ensifentrine), +26%