A rally in Hong Kong stocks reverberated across Asia after news of a planned revamp of Alibaba Group Holdings Ltd. bolstered demand for Chinese technology shares. Gains for mainland and Hong Kong equities pushed a gauge of regional stocks higher for a second day. Japanese and Australian equities also gained, while US equity futures advanced to effectively unwind a decline on Tuesday. The Hang Seng Index climbed more than 2% and an index of Hong Kong’s tech stocks jumped over 3% as investors rushed back to Alibaba shares and other large tech companies that have been stung by a crackdown from Beijing over the past two years. Alibaba surged 13%, Tencent Holdings Ltd. jumped 3% and Baidu Inc. rose more than 2%. Shares in Japan-listed Softbank Group Corp., which owns a large stake in Alibaba, surged as much as 6.5%. The gains for Alibaba broadly matched an advance in its US-listed shares on Tuesday after the e-commerce giant said it would split into six units in a shakeup that promises to yield several initial public offerings. Swaps traders have priced in more than a 50% probability the Fed will raise rates by a quarter point at its next meeting, with plans to ease thereafter. However, several strategists have joined BlackRock Investment Institute in saying markets are wrong in expecting imminent rate cuts. Investors were also focused on European banks after French prosecutors said lenders including Societe Generale SA and BNP Paribas SA face collective fines of more than 1 billion euros ($1.1 billion) as part of a probe into tax fraud and money laundering. oil was higher after a clash between Iraq and its Kurdish region curtailed exports. Gold was little changed and Bitcoin traded around $27,300. US After Hours LULU +12.2%, CALM +3.7% higher on earnings; MU -1.1%, PRGS -2.8% lower on earnings; BPMC +3.5% higher as FDA lifts partial clinical hold.
Nikkei +0.57% Hang Seng +1.91% CSI +0.24% Shanghai -0.04% Shenzen +0.12%
Eur$ 1.0835 CNH 6.8870 CNY 6.8868 JPY 131.64 GBP 1.2326 CHF 0.9206 RUB 77.0875 TRY 19.1187 CLA 73.53 +0.46% Gold 1,967 -0.33% BTC 27,385 +0.26% ETH 1,781.50 +0.37%
S&P +0.64% Nasdaq +0.61% EuroStoxx +0.48% FTSE +0.21% Dax +0.41% SMI +0.36%
Macro :
- Italy Wants to Ban Cultivated Food to Protect Culinary Heritage
- EU Commission to Work on Standards for Small Reactors: Simson
- European Equity Volatility Returned to War Peak With CS Failure
- European Real Estate Faces ‘Major’ Headwind From Yields: JPM
Keep an eye on :
Keep an eye on :
- ACLN SW : Accelleron FY Revenue Meets Estimates
- ACS SM :*FCC, ACS, SACYR VIE FOR PORTUGAL HIGH-SPEED TRAIN: ECONOMISTA
- ADS GY : Watch Adidas, Puma as Lululemon Beats Estimates on High Demand
- BABA US : Alibaba’s Cheap Valuation Shows Big Room to Grow With Overhaul
- MT NA : ArcelorMittal Shares Rise After UBS Raises to Buy From Sell
- AT1 GY : Aroundtown FY FFO I per Share Beats Estimates, Aroundtown Suspends 2022 Dividend Payout
- AT1 GY : Aroundtown Announces Cash Tender Offers for 2025, 2026 Notes
- 1211 HK : BYD Gains as Strong EV Sales Drive Spike in Profit
- COLL SS : Collector Bank Board Proposes Name Change to Norion Bank
- DNO NO : Oil Firm Starts Shutdown in Kurdistan Amid Iraq-Turkey Dispute
- DRX LN : Drax Investor Asks UK Biomass Firm to Drop Canada Forest Permits
- ECV GY : Encavis Sees 2023 Oper Ebitda Above EU310M, Est. EU344.8M
- HOLN SW : Holcim Buys Quimexur, No Financial Terms Disclosed
- IFX GY :*INFINEON SEES 2Q REV. ABOVE EU4B, SAW ABOUT EU3.9B, Raises Estimates on Strength in Auto, Industrial Sales
- IFX GY : Infineon Rises in US After Raising Revenue, Margin Forecasts
- ICOS IM : Intercos Holders L Catterton, OTPP Offer 5.5m Shares @ EU13.25/Share
- JEN GY : Jenoptik 4Q Ebitda Beats Estimates
- SKB GY : Koenig & Bauer Sees 2023 Ebit Margin About 3%
- KTN GY : Kontron Sees 2023 Net Income EU66M, Saw Above EU60M
- LULU US : Lululemon FY Net Revenue Forecast Beats Estimates
- MAERSKB DC : Maersk CEO Says Slow Steaming Makes Ship Idling Unnecessary Now
- MBG GY : Kuwaiti Wealth Fund to Sell About 20 Million Mercedes Shares, Offering Placement Price €69.27/SHR
- MBG GY : Kuwaiti Wealth Fund to Sell About 20 Million Mercedes Shares, Offering Placement Price €69.27/SHR
- MU US : Micron Sees 3Q Adj Rev $3.5B to $3.9B, Est. $3.75B: Snapshot
- NESN SW : Nestle Is Said to Make Bid to Acquire BRF’s Pet Food Unit
- OCI NA : Activist Ubben Urges Chemicals Producer OCI to Explore Options
- SWTQ SW : Schweiter Technologies CFO Martin KlöTi to Step Down in Sept.
- SNH GY : Steinhoff’s Plan to Implement Maturity Extension Transaction
- SREN SW : Sergio P. Ermotti to Step Down as Swiss Re Chairman After AGM
- TRI FP : Trigano 2Q Revenue Misses Estimates
- UBSG SW : UBS Names Sergio P. Ermotti as New Group CEO
- UCG IM : ECB Backs UniCredit Buyback in Sign of Confidence for Banks
- WIE AV : Wienerberger May Buy Back Up to 1M Shares, or Up to About 0.9%