Stocks in Asia came off their highs as the strong rally in Chinese equity markets gradually evaporated on persisting concerns over its economy. The MSCI Asia Pacific Index climbed 0.8% as shares in mainland China and Hong Kong gave up most of their gains. Benchmarks had earlier rallied, with the Hang Seng Index rising as much as 1.4%, after Chinese state-owned lenders were reported to prepare to reduce rates on the majority of outstanding mortgages, as well as on deposits. Australian stocks continued to outperform the region after a monthly inflation gauge eased more than expected, bolstering the case for the central bank to extend a pause in tightening at next week’s policy meeting. US equity futures edged higher in Asian trading. American shares had climbed the most since June on Tuesday and bond yields retreated after job openings fell by more than expected, offering fresh evidence that labor demand is slowing in the world’s largest economy. That also heightened speculations that the Federal Reserve is nearing the end of its tightening campaign. Separate data showed consumer confidence dropped amid souring views on jobs, higher borrowing costs and lingering inflation. The US economic data triggered lower wagers in swap contracts for a Fed hike in 2023, and a greater chance of a policy pivot in the first half of 2024. Traders also brought forward bets on the expected start of rate cuts to June from July of next year. Nearly 90% of the S&P 500 companies rose as the gauge closed just shy of 4,500. A rally in megacaps like Tesla Inc. and Nvidia Corp. sent the Nasdaq 100 up more than 2%. A gauge of dollar strength rose and major currencies weakened against the greenback. The Hong Kong dollar is poised for its biggest monthly retreat since 1985 as interest rates in the city drop. The crypto space traded lower after Bitcoin jumped more than 6% in the previous session as a US court ruling potentially paved the way for the country’s first Bitcoin exchange-traded fund. In commodities, West Texas Intermediate rose for a fifth day, set to match the winning streak last seen in March, on signs of tighter market. Gold steadied after rising to the highest since early August on easing Fed rate hike bets. US After Hours AMBA -15.2%, BOX -7.5%, HPQ -5.6%, NCNO -2.5%, HPE -1.8% lower on earnings; PVH +3.1% higher on earnings.
Nikkei +0.38% Hang Seng +0.39% CSI -0.04% Shanghai -0.08% Shenzen +0.13%
Eur$ 1.0867 CNH 7.2992 CNY 7.2908 JPY 146.24 GBP 1.2622 CHF 0.8793 RUB 95.5925 TRY 26.5224 WTI$ 81.52 +0.44% Gold 1,935 -0.10% BTC 27,465 -0.40% ETH 1,720 -0.37%
S&P +0.08% Nasdaq +0.10% EuroStoxx +0.16% FTSE +0.29% Dax +0.11% SMI +0.13%
Macro :
- UK Home Sales Set to Plunge to Lowest in Over a Decade This Year
- Europe Car Sales Jump 17% as Growth Streak Reaches a Full Year
Keep an eye on :
Keep an eye on :
- AGS BB : Ageas 1H Net Operating Income EU599M Vs. EU723M Y/y
- ALLN SW : Allreal 1H Net Income CHF66.7M Vs. CHF81.8M Y/y
- AT1 GY : Aroundtown 1H Net Loss EU1.31B Vs. Profit EU471.0M Y/y
- ASC LN : Aktieselskabet af 5.5.2010 Discloses 27.1% Holding in Asos
- ASRNL NA : ASR Nederland 1H Operating Profit EU460M Vs. EU454M Y/y
- BC IM : Brunello Cucinelli 1H Ebitda EU154.8M Vs. EU120M Y/y
- CLOB DC : Coloplast Raises $1.3 Billion in Share Sale for Kerecis Buy (DKK755/Share)
- EDP PL : Statkraft Inks Deal to Buy 2 Wind Power Units from EDP Brasil
- HLAG GY : Hapag-Lloyd Fails to Be Shortlisted for HMM: Daily
- IMPN SW : Implenia Holder Norbert Ketterer Offers 1.3m Shares: Terms
- LHA GY : Lufthansa Exploring Sale of Aviation Insurance Broker, Insurer
- LHA GY : Lufthansa Exploring Sale of Aviation Insurance Broker, Insurer
- MSFT US : OpenAI Nears $1 Billion of Annual Sales as ChatGPT Takes Off
- NDA FH : Nordea Cuts Jobs in Equities Due to Changed Market, DI Reports
- NOVOB DC : Obesity Prescriber Feedback Positive for Lilly, Novo: BI Survey
- ORSTED DC : Ørsted Sees Impairments of Up to DKK16 Billion on US Portfolio
- PRU LN : Prudential 1H New Business Profit Meets Estimates
- SK FP : Groupe SEB Names Olivier Casanova as CFO Effective Sept. 15
- SRAIL SW : Stadler Rail 1H Ebit Misses Estimates
- SUSE GY : SUSE 3Q Adjusted Ebitda Beats Estimates
- TGS NO : TGS Says Contract Pending for OBN Projects in Gulf of Mexico
- VFS US : VinFast’s 700% Jump That Outpaced 2023 IPOs, Tesla, Hits Reality --> -43.8% Yesterday
- ZEAL DC : Zealand Pharma Gets US FDA Priority Review for Dasiglucagon