Asian shares advanced Tuesday, led by Japanese equities and as the latest data from China underscored the recovery in the world’s second-biggest economy. Gauges rose in Japan and Hong Kong, while Chinese onshore stocks fluctuated as investors assessed the strength of the economic rebound after data showed China’s factory activity expanded for a second month. US equity futures contracts were little changed after Wall Street was bolstered by a strong start to the earnings season led by big-tech companies, despite bets the Federal Reserve will keep interest rates higher for longer. Japanese stocks gained following a holiday, as the yen surged back from its weakest level against the dollar in 34 years, amid suspicion the government intervened to support the currency. The yen swung wildly, rallying more than 2% on Monday after earlier dropping as much as 1.2% to 160.17 per dollar. That’s the widest trading range since late 2022. It trimmed some gains in early Asian trading as a Bloomberg gauge of the dollar strengthened slightly. Elsewhere in Asia, some traders are also looking at the possibility China will need to take an extreme measure to support its moribund economy — devalue the yuan in a big-bang move. Markets in the Asian powerhouse will close on Wednesday until next week for the Labor Day holidays. In corporates, Samsung Electronics Co.’s earnings surged after the semiconductor business turned profitable for the first time since 2022, reflecting the global AI development boom. Japanese trading house Sumitomo Corp. shares jumped by the most since August 2020 after activist investor Elliott Management Corp. was said to have built a “large” stake in the Japanese trading house. Early results from the US reporting season suggest that more than 80% of companies are beating expectations. First-quarter earnings are now on track to increase by 4.7% from a year ago, compared with the pre-season estimate of 3.8%, according to data compiled by Bloomberg Intelligence. US 10-year yields steadied Tuesday after falling five basis points in the previous session. The Treasury ramped up its estimate for federal borrowing for the current quarter to $243 billion, more than most dealers had anticipated. Australia and New Zealnd bond yields declined early Tuesday. US markets could remain volatile this week, but UBS continues to see the current environment as supportive for US equities — driven by solid earnings growth, a potential Fed pivot later this year, and accelerating artificial-intelligence investment. In commodities, oil held its biggest drop in almost two weeks as discussions on a possible cease-fire in the Middle East reduced the risk premium for crude. Gold is set to gain for a third straight month ahead of this week’s Fed meeting. US After Hours ST +18.7% and NXPI +5.6% up nicely on earnings; MED -17.4%, COUR -14.6%, FFIV -8.9% slipping following quarterly results.
Nikkei +0.75% Hang Seng -0.20% CSI -0.20% Shanghai -0.04% Shenzen -0.25%
Eur$ 1.0704 CNH 7.2535 CNY 7.2430 JPY 156.78 GBP 1.2545 CHF 0.9115 RUB 93.2922 TRY 32.4661 WTI$ 82.50 -0.16% Gold 2,326 -0.42% BTC 63,585 +1.02% ETH 3,177 +0.01%
S&P -0.16% Nasdaq -0.10% EuroStoxx -0.02% FTSE -0.02% Dax -0.08% SMI -0.03%
Macro :
- US Eases Some Sanctions on Russian Banks for Energy Deals
- London Firms Are Letting More Staff Work Entirely From Home
Keep an eye on :
Keep an eye on :
- ADS GY : Adidas 1Q Inventories Misses Estimates
- ALM SS : Alm Equity Offers Up to SEK150 million Shares
- AAL LN : S. Africa Regulator Suggests Anglo Spinoffs Would Need Approval
- ANTIN FP : Antin Assets Under Management EU31.4B
- ARCAD NA : Arcadis 1Q Oper Ebitda EU131M Vs. EU120M Y/y
- BARC LN : Goldman in Talks With Barclays on GM Credit Card Deal, WSJ Says
- BAVA DC : Bavarian Gets EU65m Contract for EU Smallpox Vaccines Reserve
- BIG FP : FOURTH-QUARTER 2023/24 SALES UP 6.6% TO €69.7 MILLION
- CABK SM : CaixaBank 1Q Net Income Beats Estimates
- CAP FP : Capgemini Maintains FY Operating Margin Forecast
- CRI FP : Chargeurs 1Q Revenue EU177.8M Vs. EU169.7M Y/y
- CLN SW : Clariant 1Q Sales Meets Estimates
- 1COV GY : Covestro 1Q Sales €3.5B, Est. €3.56B
- BN FP : Danone May Take Years to Restore Peak Margin, Nestle Can by 2025
- DEEZR FP : Deezer 1Q Revenue EU132.5M Vs. EU115.2M Y/y
- DEEZR FP : Deezer 1Q Revenue EU132.5M Vs. EU115.2M Y/y
- DTE GY : FCC Fines T-Mobile, AT&T, Verizon for Sharing Access to Data
- DIS US : ESPN- and ABC-Parent Disney Expected to Pay Average Fee of About $2.6 Billion for Rights, Sources Say -- WSJ
- ENGI FP : Gas-Supply Glut in 2025 Might Not Be End of EU Price Volatility
- ENGI FP : Gas-Supply Glut in 2025 Might Not Be End of EU Price Volatility
- ERICB SS : Ericsson chief says overregulation ‘driving Europe to irrelevance’
- EBS AV : Erste 1Q Fee and Commission Income Beats Estimates
- FIE GY : Fielmann 1Q Sales Climb 11% to €529 Million
- FINGB SS : Fingerprint Cards Appoints Fredrik Ramberg Chief Product Officer
- FPE GY : FUCHS SE 1Q Ebit Misses Estimates
- 1GT GY : GEK TERNA S.A. - GEK TERNA Group: FY2023 financial results
- GMAB DC : Genmab, Pfizer Say FDA Approves Treatment for Cervical Cancer
- HSBA LN : HSBC Announces Up to $3b Buyback (1)
- IBS PL : Ibersol FY Net Income EU15.4M Vs. EU160M Y/y
- KOG NO : Kongsberg 1Q Ebitda Beats Estimates
- LOGN SW : Logitech Market-Share Growth Sets It Up for Stronger 2025: React
- LTMC IM : Lottomatica 1Q Revenue EU440.1M Vs. EU422M Y/y
- 973 HK : L’Occitane Chairman Launches Buyout at €6 Billion Valuation (2)
- LHA GY : Lufthansa 1Q Revenue Misses Estimates
- MBG GY : Mercedes 1Q Cars Adjusted Ebit Misses Estimates
- MOR GY : MorphoSys 1Q Revenue Misses Estimates
- MUSIT FH : Musti Group 2Q Net Sales, Adj. Ebita Miss Estimates (1)
- MUSTI FH : Musti Withdraws Financial Targets, Doesn’t Plan to Pay Dividends
- NEM GY : Nemetschek 1Q Ebitda Meets Estimates
- NESTE FH : Neste President & CEO Matti Lehmus Leaving After Two Years
- NDX1 GY : Nordex US Business Shows First Signs of Recovery: Mwb Reasearch
- NOVN SW : Peptidream Expands Peptide Discovery Collaboration With Novartis
- OMV AV : OMV 1Q Profit Beats Estimates on Chemicals Unit Rebound (1)
- PRS SM : *PRISA IN TALKS WITH BANKS TO REFINANCE €832M DEBT: CONFIDENCIAL
- PRU LN : Prudential 1Q Annual Premium Equivalent $1.63B (1)
- QIA GY : Qiagen Maintains FY Net Sales Forecast
- RXL FP : Rexel 1Q Sales Meets Estimates
- SAN SM : Santander 1Q Net Provision for Loan Losses Beats Estimates
- SCATC NO : Scatec 1Q Ebitda NOK1.02B, Est. NOK872.1M
- SESG FP : SES 1Q Adjusted Ebitda Beats Estimates
- SIGN SW : SIG Group 1Q Revenue Misses Estimates (1)
- GLE FP : SocGen Traders in Asia Exited After Options Bets Went Undetected
- STLA US : Stellantis Revenue Falls on New Models, Sees Growth Accelerating
- STMN SW : Straumann 1Q Revenue Beats Estimates
- FLY FP : SFL – First-Quarter 2024 Financial Information
- TEL NO : Telenor 1Q Adj. Ebitda NOK8.51B, Est. NOK8.53B
- HO FP : Thales 1Q Sales Beats Estimates
- VLK NA : Van Lanschot Kempen 1Q Total Client Assets EU151.8B
- VCT FP : Vicat 1Q Like-for-Like Sales +7.9%
- VNA GY : Vonovia Still Sees 2024 Adj. Ebitda EU2.55b to EU2.65b (1)
- VOW GY : VW Maintains FY Operating Return on Sales Forecast
- VOW GY : *VOLKSWAGEN STILL SEES FY 2024 OPERATING RETURN ON SALES 7%-7.5%
- VU FP : Vusiongroup Order Intake ~€1B From Walmart Contract Amendment