Asian stocks climbed after US equities notched the best weekly rally of 2024, while the yen whipsawed amid thin liquidity due to a public holiday in Japan. The Japanese currency briefly fell past 160 per dollar for the first time since 1990, before reversing the losses as of mid-Monday. Traders have been guessing as to when authorities might start buying the yen to stem the slide. Its declines have accelerated since late last week as Bank of Japan Governor Kazuo Ueda played down the impact of the weak yen on fueling inflation. Hong Kong and Chinese stocks led the region’s rally, with the Hang Seng Index hovering near a technical bull market. The gains add to signs of a revival in the once-battered market amid a return in foreign money and an improvement in earnings. Property shares surged after major developer CIFI Holdings Group Co. reached a solution with bondholders on its liquidity issues. US equity futures also edged higher, bolstering Friday gains of more than 1% for the S&P 500 and Nasdaq 100. Australian and New Zealand bond yields fell. An index of the dollar declined Monday. US government debt will not trade in Asian hours given the holiday in Japan. Traders will also be focusing on the Federal Reserve’s policy meeting on Wednesday after the central bank’s preferred measure of inflation rose at a brisk pace in March, though roughly in line with estimates. With officials likely to hold rates steady at a more than two-decade high, interest will be on any pivot in the tone of the post-meeting statement and Chair Jerome Powell’s press conference. A gauge of US Treasury returns has slumped 2.3% this month, set for the biggest monthly drop since February last year, as hawkish Fedspeak and strong economic data pushed back rate-cut bets. Swaps traders now see only one Fed reduction for all of 2024, well below the roughly six quarter-point cuts they expected at the start of 2024. Oil fell and gold edged lower in Asian trading as US Secretary of State Antony Blinken steps up efforts to secure a truce in Gaza in meetings in the Middle East on Monday, in what could be a final chance to persuade Israel to call off an attack on Rafah. In corporate news, Elon Musk made an unannounced trip to China on Sunday. The Tesla Inc. chief is seeking approval for driver-assistance software that could help arrest the carmaker’s revenue decline. Separately, L’Occitane International SA’s billionaire owner Reinold Geiger is close to making an offer to take the skin-care company private, according to people familiar with the matter.
Nikkei Closed Hang Seng +1.00% CSI +1.30% Shanghai +0.86% Shenzen +2.24%
Eur$ 1.0720 CNH 7.2551 CNY 7.2437 JPY 156.35 GBP 1.2542 CHF 0.9110 RUB 91.8800 TRY 32.5090 WTI$ 83.15 -0.83% Gold 2,334 -0.17% BTC 62,486 -1.85% ETH 3,195 -3.50%
S&P +0.29% Nasdaq +0.38% EuroStoxx +0.46% FTSE +0.50% Dax +0.34% SMI +0.21%
Macro :
- Goldman Strategists See ‘Good’ European Earnings Season So Far
- Tech Fund Invested in SpaceX, OpenAI Sinks After 1,000% Surge
- Citi Sees Upside for Venezuela Bonds on Restructuring Likelihood
- IMF Approves New Two-Year $8.1 Billion Credit Line for Colombia
- Turkey in Talks to Buy LNG From Exxon, Energy Minister Tells FT
Keep an eye on :
Keep an eye on :
- AAL LN : Activist Elliott Takes $1 Billion Stake in Anglo American
- AAL LN : BHP to Consider Improved Anglo Proposal After Bid Was Rejected
- AAL LN : De Beers Has the Diamond. Could It Find a Bride?: Andrea Felsted
- APPL LN : Apple’s OpenAI Talks Intensify as It Seeks to Add AI Features
- ARIS IM : Ariston Is Assessing Implications After Russia Seizes Local Unit
- ATO FP : French government seeks to buy key assets from Atos - FT
- BG AV : Bawag 1Q Pretax Profit Misses Estimates, Risk Costs Climb (1)
- BAYN GY : Bayer Holders Back Management, Ubben Joining Supervisory Board
- BAYN GY : Bayer Holders Back Management, Ubben Joining Supervisory Board
- BBVA SM : BBVA 1Q Net Income Beats Estimates
- BHP AU : BHP’s Bid for Anglo Casts Cloud Over $9 Billion Fertilizer Mine
- BHP LN : BHP Mega Bid and $10,000 Copper Expose Mining’s Biggest Problem
- BA US : Fitch Revises Boeing's Outlook to Negative
- IAG LN : IAG Gets EU Warning Shot Over €400 Million Air Europa Deal
- DBK GY : Deutsche Bank Sees €1.3 Billion Legal Provision Tied to Postbank
- DBK GY : Deutsche Bank’s Past Throws Wrench Into CEO Sewing’s Turnaround
- DTG GY : UAW Reached Tentative Pact With Daimler Truck, Averting Strikes
- ETL FP : Germany Slams High Cost of EU’s IRIS2 Space Project: HB
- FLE NA :
- FINGB SS : Fingerprints Reports SEK310m Partially Guaranteed Rights Issue
- GIS US : General Mills Explores Sale of North America Yogurt Unit: Rtrs
- SONG LN : Blackstone Prepares to Make Fresh Hipgnosis Bid, Sky News Says
- HDD GY : Germany’s Heidelberger Druck Upbeat on Outlook for Orders
- Jordanes IPO : Jordanes Plans to Raise About NOK1.5B in Oslo IPO
- LHA GY : Lufthansa, ITA Offer to Give Up Slots At Linate, Corriere Says
- MC FP : LVMH-Backed L Catterton Buys Majority Stake in Kiko
- MBG GY : Mercedes Says DOJ Ended Diesel Probe Without Filing Charges
- MITRA BB : Mithra Continues to Seek Buyers for All Activities and Assets
- NEOEN FP : Neoen Gets 300MW Australia Capacity Services Contract
- PHIA NA : Philips Settles Sleep Apnea Claims in the US for $1.1 Billion
- P911 GY : Porsche AG 1Q Operating Return on Sales Misses Estimates, Porsche Starts Year With a Challenging Quarter
- RATOB SS : Ratos 1Q EPS SEK0.060 Vs. Loss/Shr SEK0.090 Y/y
- RECT BB : Recticel 1Q Sales Meets Estimates
- SAP GY : Strong Cloud Revenue To Continue Supporting Premium Valuation
- SERI IM : Seri in Talks to Buy Stake in Industria Italiana Autobus
- STMA IM : Italy Plans to Invest About €10 Billion in Chips, Urso Says
- STLN SW : Swiss Steel Proposes new Board Members, Reverse Share Split
- TSLA US : Auto Safety Regulator Investigating Tesla Recall of Autopilot
- TSLA US : Tesla’s Most Crucial Metric Drops to the Lowest in Three Years
- TSLA US : Tesla Clears Key China Assisted-Driving Hurdle With Baidu Deal
- TTE FP : TotalEnergies CEO Says EU Sanctions on Yamal LNG Would Backfire
- UNI SM : Unicaja 1Q Net Income Beats Estimates
- VIV FP : Vivendi 1Q Revenue Beats Estimates
- ZURN SW : Zurich Insurance: Swiss Solvency Test Ratio of 234% as of Jan. 1