A climb in Chinese stocks Thursday enlivened an otherwise listless session for Asian shares in the wake of another Wall Street all-time high on light volumes in the final days of the year.
China’s CSI 300 index was up about 1% on expectations of more steps to bolster economic growth amid calls for policy easing and reports that some personal income-tax cuts will be extended. In Hong Kong, artificial intelligence giant SenseTime Group Inc. jumped on its first day of trading. MSCI Inc.’s overall Asia-Pacific gauge largely held its ground. U.S. and European equity futures were little changed after the S&P 500 eked out a gain to hit its 70th record close of the year on Wednesday. Chinese officials renewed their commitment to a zero tolerance approach to Covid-19 as they tackle a protracted outbreak in the western city of Xi’an. Micron Technology Inc. said output of some computer memory will be hit by the lockdown there. China’s battered property developers and regulatory crackdown are again in focus heading toward 2022. Developer Kaisa Group Holdings Ltd. faces an initial deadline for coupon payments totaling $154 million on two dollar bonds Thursday. A unit of China Evergrande Group plans to cut its stake in China Calxon Group Co. after failing to repay debt in time. Meanwhile, Alibaba Group Holding Ltd. is in talks over a possible sale of its stake in Weibo Corp., a Twitter-like social media service, to a state-owned Chinese conglomerate. Beijing is moving to curb the influence of China’s tech giants in the media sphere. Alibaba’s shares were steady in Hong Kong.
Elsewhere, Bitcoin extended its December retreat and was trading below $47,000.
US After Hours Quiet after hours; DIDI +1.4% ticks higher on earnings
Nikkei -0.22% Hang Seng +0.10% CSI +1.02% Shanghai +0.78% Shenzen +1.13%
Eur$ 1.1330 CNH 6.3682 CNY 6.3687 JPY 114.14 GBP 1.3473 CHF 0.9168 RUB 74.24 TRY 13.1050 WTI 76.65 +0.12% Gold 1,798.12 -0.36% BTC 47,000 -0.45% ETC 3707 -0.51%
S&P -0.06% Nasdaq -0.08% EuroStoxx +0.18% FTSE -0.10% Dax +0.08% SMI +0.15%
Macro :
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