Stocks in Asia started the week broadly on a positive note after China’s latest measures to bolster its equity market injected optimism. Energy shares were boosted by higher oil prices. China’s securities regulator said on the weekend it will halt the lending of certain shares for short selling from Monday. The latest steps add to measures aimed at arresting a slide in the nation’s stocks which has seen the MSCI China Index tumble about 60% from a February 2021 peak. Mainland China equities failed to match gains in Hong Kong peers, amid concern over a proposal requiring US cloud firms to reveal foreign clients developing AI applications. The proposal — scheduled for release Monday — risks adding to tensions between Washington and Beijing after some US lawmakers last week proposed legislation targeting Chinese biotech companies. Property shares earlier received a tailwind after the southern city of Guangzhou eased home-buying restrictions. However, optimism started to fade following a Hong Kong court’s order to liquidate China Evergrande Group. A Bloomberg Intelligence gauge of Chinese real estate developers was down 1% in afternoon trading after climbing as much as 3.8% earlier. Europe and US stock futures edged lower as investors weighed risks from the Middle East conflicts at the start of a busy week for the global policy outlook. Brent and West Texas Intermediate crude gained for a fourth day, rising to their highest levels since November in intraday trading. The US said Iranian-backed militants killed three service members, with US President Joe Biden pledging to retaliate. Oil climbed on Friday after Houthi rebels attacked a vessel carrying Russian fuel. The Australian and New Zealand dollars outperformed their Group-of-10 peers on higher commodity prices and as China’s stock-market support measures boosted investor sentiment. The US dollar and Treasuries were both little changed in Asia. Mixed US economic Friday data spurred concerns the Federal Reserve will signal patience about the pace of interest-rate cuts when it announces its next policy decision on Wednesday. This week also brings a slew of key data, from European GDP on Tuesday, to China PMI and Australian inflation on Wednesday, then European inflation and a Bank of England policy decision on Thursday. Big tech companies such as Microsoft Corp. and Apple Inc. will shed more light on the current earnings season when they report results.
Nikkei +0.77% Hang Seng +0.90% CSI -0.15% Shanghai -0.14% Shenzen -1.53%
Eur$ 1.0847 CNH 7.1915 CNY 7.1812 JPY 147.90 GBP 1.2709 CHF 0.8635 RUB 89.8675 TRY 30.35 WTI$ 78.28 +0.35% Gold 2,029 +0.50% BTC 42,165 +0.46% ETH 2,267 +0.19%
S&P -0.04% Nasdaq -0.09% EuroStoxx -0.13% FTSE -0.08% Dax -0.26% SMI +0.13%
Macro :
- Trafigura Oil Tanker on Fire After Houthi Strike Near Yemen
- Biden Expected to Announce Billions in Chip Subsidies, WSJ Says
- SPAIN IN TALKS TO REDUCE TAX TO ENERGY COMPANIES: EXPANSION
- European REIT Share Discounts May Narrow as Short Sellers Flee
Keep an eye on :
- APPS SM : I Squared, TDR Plan to Increase Offer to Buy Applus: Expansion
- MT NA : Rome must provide green funding to ArcelorMittal plant, industry chief says
- BAYN GY : Bayer’s Litigation Costs May See Lower Dividend: Morgan Stanley
- BA US : Airbus Hunts for Delivery Slots to Win Over Key Boeing Customer
- BP/ LN : Activist Bluebell Told BP to Scrap Clean Energy Pledges: FT
- ALCAR FP : Carmat Completes Capital Increase for Gross Amount of €16.5M
- DYN US : Dyne Is Said to Explore Options Amid Takeover Interest
- ETL FP : Eutelsat Cuts FY Guidance, Suspends Next Year’s Targets
- 333 HK : Hong Kong court orders property firm China Evergrande to liquidate after plan for $300B debt fails
- GALP PL : Galp 4Q Refining Margin Misses Estimates
- GRF SM : Grifols Files Suit Against Gotham; Seeks Monetary Relief
- HOLN SW : Holcim to List North America Unit Next Year, Names New CEO
- INRN SW : Interroll FY Sales Misses Estimates
- BAER SW : Julius Baer to Announce Benko-Related Write-Off, SoZ reports
- KRN GY : Krones Close to Sign Agreement to Buy Swiss Netstal
- LMT US : State Department Approves Possible $8.6B Military Sale to Greece
- NWG LN : UK Government Asks City Firms for NatWest Share Sale Proposals
- PHIA NA : Philips Halts Sale of Sleep Apnea Devices in US After FDA Deal
- PKTM AV : Pierer Mobility Prelim FY Revenue EU2.66B
- PRX NA : Blackstone, Prosus Object to Aakash Debt-to-Equity Plan: Mint
- RYA ID : Ryanair Sees FY Profit After Tax EU1.85B to EU1.95B (1)
- SRS IM : Trafigura Lowers Stake in Italian Oil Refiner Saras to 9.6%
- SMCP FP : SMCP Cuts FY Adjusted Ebit Margin Forecast
- STM GY : Stabilus 1Q Adjusted Ebit Misses Estimates
- SDRY LN : Superdry Explores Restructuring Amid Widening Losses, Sky Says
- WCH GY : Wacker Chemie Prelim FY Ebitda EU824M
- WDC US : Kioxia Seeks to Revive Merger Talks with Western Digital-Media