Shares in Asia tracked lower as a jump in global oil prices emboldened the higher-for-longer rates narrative, sapping risk sentiment as some markets in the region prepare for a holiday. The US benchmark oil price hit $95 a barrel for the first time in more than a year after stockpiles fell at a major storage hub. The increase added to concerns that inflation would remain elevated, keeping the 10-year Treasury yield near the 4.6% it reached in the previous session, the highest since 2007. Equity benchmarks in Japan and Hong Kong fell, dragging down a key index of regional shares. Stocks in mainland China were mixed ahead of an extended break for onshore markets, which will close Friday before reopening Oct. 9. Chinese developers extended losses after falling to levels not seen since 2011 on Wednesday. Trading in China Evergrande Group was suspended in Hong Kong, another troubling sign for the sector that’s been embroiled in an yearslong debt crisis. US futures ticked higher after Wall Street ended Wednesday flat. A widely-watched measure of global equities opened lower in Asia after falling for the ninth consecutive session, its worst losing streak in a dozen years. September has reasserted its tough reputation. It’s shaping up as the worst month for global stocks in a year, while the 10-year Treasury yield has also risen by the most in that period. An index of US investment grade corporate bonds has suffered its biggest monthly drop since February, pulling the benchmark to a loss for the year. The Bloomberg dollar index was steady after touching the highest level since November. The index has climbed for six sessions in a row, its longest run of advances in a year. Meanwhile. the yen strengthened slightly on Thursday but remained near 150 per dollar. Global stocks also face the risk of further selling linked to a large options position held by a JPMorgan Chase & Co. equity fund. Tens of thousands of protective put contracts held by the fund will expire Friday at a strike price not far below the current level of the S&P 500, creating the potential for market dislocations. Gold edged higher after a run of declines this week while Bitcoin traded above $26,000. US After Hours MU -4%, JEF -3.4% lower on earnings; PTON +16.8% pops on partnership with LULU; JCI -1.2% ticks lower on cybersecurity incident.
Nikkei -1.32% Hang Seng -1.02% CSI -0,22% Shanghai +0,13% Shenzen +0,43%
Eur$ 1,0501 CNH 7.3161 CNY 7.3124 JPY 149.42 GBP 1.2134 CHF 0.9214 RUB 97.0761 TRY 27.3447 WTI$ 94.59 Gold 1,875 BTC 26,333 ETH 1,603
S&P +0,19% Nasdaq +0,21% EuroStoxx +0,14% FTSE +0,11% Dax +0,27% SMI +0.09%
Macro :
- Germany Loses Out to China, Japan Amid Sick Man of Europe Debate
- Deutsche Bank Americas Head Sees More Stress on Midsize Banks
- Italy Targets Wider Budget Deficit in Challenge for Meloni
- JPMorgan’s Kolanovic Says Markets Today ‘Rhyme With’ 2008 Crisis
- JPMorgan ‘Options Whale’ Worries Resurface as Stocks Extend Drop
- BofA CEO Says Soft-Landing Projection Spurred by Strong Consumer
- SEC Nears Settlement With Wall St. Firms on WhatsApp: Rtrs
- If China Is So Weak, Why Are Commodities So Strong?: China Today
Keep an eye on :
- AIR FP : Airbus Starts China Factory Expansion to Double Plane Output
- AMS SW : AMS-Osram Plans to Secure EU2.25b Financing via Equity, Debt
- AAPL US : Apple App-Store Ruling Challenged at Supreme Court by Epic Games
- AAPL US : Apple iPhone 15 Pro Users Complain That Device Can Get Too Hot
- AUTN SW : Autoneum Sells Remaining Shares From Rights Offering
- BBVA SM : BBVA to Pay Interim Dividend of €0.16/Share, Up 33% Y/Y
- BEN FP : Beneteau Sees FY Operating Income Above EU210M
- BMPS IM : Italy’s Giorgetti Says Paschi Could Be Core of New Banking Hub
- BMW GY : BMW Halts North American Motorcycle Sales Over Emissions System
- BPSO IM : Pop. Sondrio Holder in Reverse Bookbuild for 46.3m Shrs: Terms
- BPSO IM : Unipol to Buy 10.2% Stake in Popolare di Sondrio (Sept. 27)
- COLR BB : Colruyt to Sell Part of Virya Energy Stake to Korys (Sept. 27)
- EDF FP : France Mulls Windfall Levy to Cap Electricity Prices: FT
- GLEN LN : Glencore among parties in Chalice’s Gonneville sale
- GLEN LN : Glencore’s Halt to Koniambo-Mine Funding Rids Profit Drag: React
- PLTR US : Palantir Wins $250 Million AI Deal With US Defense Department
- PTON US : Lululemon Strikes Deal With Peloton to Use Content (Correct)
- RYA ID : Ryanair May Need to Cut Fares to Stimulate Demand, O’Leary Says
- SBBB SS : SBB Delays Third-Quarter Report After Changing Group Structure
- 1SXP GY : Germany’s Schott Raises €813 Million in IPO of Medical-Glass Arm
- SNBN SW : SNB Chief Jordan Defends Focus on Inflation Amid Climate Crisis
- STLA IM : UAW Threatens to Strike More Plants Friday If No Progress
- TE FP : TechnipFMC awarded a large integrated engineering, procurement, construction, and installation contract by Equinor (EQNR) for its Rosebank project, TechnipFMC Climbs Postmarket on Equinor Contract Award
- TIT IM : Telecom Italia Grants KKR Extension to Oct. 15 for NetCo Offer
- UNI IM : Unipol to Buy 10.2% Stake in Popolare di Sondrio (Sept. 27)
- DG FP : Vinci Sees Charge of €260m for FY From Planned New Tax in France
- VOW GY : Volkswagen IT Glitch Halts Production in at Least Four Plants
- VSAT US : Viasat Falls After Musk’s SpaceX Wins US Space Force Contract
- VOW GY : Volkswagen Remedies IT Outage Affecting Global Production
- WPP LN : Uber is moving its $600 million ad account from WPP to Omnicom
- YCA LN : Yellow Cake Offers Up to $125 million Shares at GBp550/Share