Stocks were mixed in choppy trading on Monday as investors split their attention between a reopening rally in mainland China, the plunge in Adani Group assets and looming interest-rate decisions in the US and Europe. The Shanghai Shenzhen CSI 300 Index was off its intraday highs but still about 20% above an October low and a chance of entering a bull market as onshore exchanges resumed after the week-long Lunar New Year holiday. Japanese equities swung between gains and losses while benchmark indexes in Hong Kong and Seoul were decisively lower. The rout in India’s Adani Group stocks swelled to $66 billion and its bonds were under pressure as the fight with short seller Hindenburg Research escalated. Adani Green Energy Ltd. and Adani Total Gas Ltd. fell more than 20% again. Stocks were mixed in choppy trading on Monday as investors split their attention between a reopening rally in mainland China, the plunge in Adani Group assets and looming interest-rate decisions in the US and Europe. The Shanghai Shenzhen CSI 300 Index was off its intraday highs but still about 20% above an October low and a chance of entering a bull market as onshore exchanges resumed after the week-long Lunar New Year holiday. Japanese equities swung between gains and losses while benchmark indexes in Hong Kong and Seoul were decisively lower. The rout in India’s Adani Group stocks swelled to $66 billion and its bonds were under pressure as the fight with short seller Hindenburg Research escalated. Adani Green Energy Ltd. and Adani Total Gas Ltd. fell more than 20% again. By midweek central banks are likely to dominate the agenda, beginning on Wednesday with the Fed, which is expected to downshift to a 0.25% increase in interest rates amid signs of cooling inflation. By midweek central banks are likely to dominate the agenda, beginning on Wednesday with the Fed, which is expected to downshift to a 0.25% increase in interest rates amid signs of cooling inflation. a gauge of dollar strength was little changed on Monday and Group-of-10 currencies mostly traded in relatively narrow ranges. The onshore yuan rallied in a catchup move. a gauge of dollar strength was little changed on Monday and Group-of-10 currencies mostly traded in relatively narrow ranges. The onshore yuan rallied in a catchup move. hedge funds are betting this year’s stellar start for Treasuries is too good to last, quietly building up the biggest bearish bet on bond futures on record. Oil fluctuated as traders parsed signals on demand from China, and tracked an uptick in tensions in the Middle East after Israel was reported to have carried out a drone strike against a target in Iran. Iron ore rose to a seven-month high as a drop in Chinese stockpiles added to optimism demand for the steel-making ingredient will rebound this year.
Nikkei +0.19% Hang Seng -2.23% CSI +0.55% Shanghai +0.24% Shenzen +1.20%
Eur$ 1.0865 CNH 6.7582 CNY 6.7559 JPY 129.58 GBP 1.2389 CHF 0.9213 RUB 69.5362 TRY 18.8089 WTI$ 79.28 -0.49% Gold 1,930 +0.19% BTC 23,684 -0.48% ETH 1,629 -0.87%
S&P -0.36% Nasdaq -0.47% EuroStoxx -0.45% FTSE -0.32% Dax -0.32% SMI -0.06%
Macro :
- Morgan Stanley’s Wilson Says Don’t Buy the Rally as Fed Looms
- China Kicks Off 2023 Leading Global Peers in Equity Fundraising
- China Kicks Off 2023 Leading Global Peers in Equity Fundraising
- Protest Surge Imperils 30% of Copper Supply in No. 2 Miner Peru
- Scholz Visits South America in a Race With China to Get Lithium
- Chinese Search Giant Baidu to Launch ChatGPT-Style Bot in March
- Profit Warnings Issued by UK Firms Surge 50% on Higher Costs: EY
Keep an eye on :
Keep an eye on :
- ALO FP : France’s Alstom to Visit Baghdad Soon to Discuss Elevated Train
- ASML NA : ASML Says Chip Controls Won’t Have Much Effect on 2023 Earnings
- ATE FP : Alten FY Revenue Beats Estimates
- ATE FP : Alten FY Revenue Beats Estimates
- BBVA SM : Santander and BBVA Plan to Challenge Spain Windfall Tax: FT
- BMW GY : BMW Denies Interest in Acquiring SocGen’s Car-Leasing Assets
- HOLN SW : Cement Valuations Set for a Boost From M&A, Faster Transition
- IAG LN : UK Airline Flybe Put Under Administration, Ceased Trading
- INRN SW : Interroll FY Sales Misses Estimates
- DOCS LN : Dr. Martens Climbs as Investec Backs Long-Term Growth Prospects
- NOVN SW : Novartis Says Sandoz Got Positive CHMP Opinion for Adalimumab
- NVDA US : Nvidia May Be at Further Risk From China Ban Escalation
- ORP FP : Orpea Resumes Talks With Caisse Des Depots, Unsecured Creditors
- PHIA NA : Philips 4Q Adjusted Ebita Beats Estimates
- PHIA NA : Philips to Cut Extra 6,000 Jobs Globally by 2025
- PNE3 GY : Morgan Stanley Infrastructure, Photon Drop Talks for PNE Stake
- RYA ID : Ryanair 3Q Revenue Misses Estimates
- RNO FP : Renault Agrees to Lower Nissan Stake in Historic Rebalancing
- SGSN SW : SGS Margin Outlook at Risk, Cut to Underweight at Morgan Stanley
- SOUN US : SoundHound AI stock jumps 20% in wake of voice AI tech deal, business update
- STM GY : Stabilus 1Q Adjusted Ebit Beats Estimates
- STAN LN : Standard Chartered Warns of Reality Check for ‘Goldilocks’ Rally
- STM FP : Historic Crash for Memory Chips Threatens to Wipe Out Earnings
- TIT IM : Italy Bank May Bid for Telecom Italia Unit Next Month: Report
- TTE FP : QatarEnergy Signs Pact With Total, Eni for Lebanon Blocks Stake
- DG FP : Vinci to Freeze Toll Fees on Most Trips Under 30km
- VIV FP : Vivendi Is Said to Favor Listing Editis Shares, Les Echos Says
- VOW GY : VW Targets Significant EV Returns From 2026, CFO Tells SZ
- VOW GY : Toyota Keeps Title as No. 1 Carmaker for Third Straight Year