Asia stocks slipped Tuesday, led by a selloff in Hong Kong equities as the liquidation of a large Chinese developer intensified concerns over the nation’s embattled real estate sector. Stocks in Hong Kong fell around 2%, while those on the mainland were poised to decline for a third day. The impact of China Evergrande Group’s liquidation order pushed a Bloomberg index of Chinese developers down almost 4%. Mounting expectations for more policy easing in China drove the benchmark government bond yield to fall to its lowest in nearly 22 years. Hong Kong benchmarks were also weighed by BYD Co. after shares in the EV maker slumped after missing its earnings forecast. Elsewhere, shares in South Korea and Japan traded within tight ranges. Treasury yields extended falls Tuesday after a cut in the quarterly borrowing estimate by the US Treasury eased concerns about the flood of debt being issued to cover the federal deficit. Futures contracts on US equities were unchanged after Wall Street climbed to fresh records. Oil was steady as the market waited for a US response to the deadly attack on American troops in Jordan, which could risk an escalation of tensions in a region key to global crude production. The New Zealand dollar held onto gains following hawkish comments from an official at the nation’s central bank. The greenback was little changed as traders waited for US data and the Federal Reserve’s policy decision this week. The next few days will be crucial in the US to determine whether stock valuations — particularly those of megacap US technology companies — are sustainable given that investors are pricing in significant earnings growth expectations in anticipation of rate cuts coming sooner than Fed officials project, according to JPMorgan Chase & Co.’s Marko Kolanovic. This week marks the busiest this season for US earnings, with results from Microsoft Corp., Alphabet Inc., Apple Inc., Amazon.com Inc. and Meta Platforms Inc. As most of the megacaps remain in record territory, there are concerns that investors are overexposed to just a handful of stocks, which could open the door for some pain if quarterly results underwhelm. Investors are also on the lookout for the Federal Reserve’s rate decision and a raft of data from consumer confidence to jobs. Going into this week’s two-day Fed policy meeting, investors are assigning roughly even odds to the prospect that the central bank will start lowering borrowing costs at its next decision in March. US After Hours SANM +16.5%, SMCI +9.8%, FFIV +8.7%, CLS +7.9% up big on earnings; CALX -22.2%, HLIT -7%, WHR -4.1% down following earnings.
Nikkei +0.11% Hang Seng -1.79% CSI -1.15% Shanghai -1.47% Shenzen -2.36%
Eur$ 1.0823 CNH 7.1881 CNY 7.1773 JPY 147.38 GBP 1.2706 CHF 0.8617 RUB 89.2524 TRY 30.3524 WTI$ 77.27 Gold 2,032 -0.06% BTC 43,365 +0.41% ETH 2,305 -0.06%
S&P -0.05% Nasdaq +0.02% EuroStoxx +0.30% FTSE.+0.42% Dax +0.31% SMI +0.28%
Macro :
- Generative AI Seen as Helping to Identify M&A Targets, Says Bain
- JPMorgan’s Kolanovic Sees Tech Earnings Testing Rich Valuations
- JPMorgan’s Kolanovic Sees Tech Earnings Testing Rich Valuations
- Bank Mergers Would Face Tougher Process Under OCC Proposal
- Andurand De-Risks Hedge Fund as Bullish Oil Bets Cause 55% Loss
- Norway’s $1.5 Trillion Wealth Fund Boosted Tech Stock Holdings
- Citi’s Montagu Says Sentiment Improves for China Stock Futures
- Morgan Stanley Turns Bullish on Large US Banks; Raises Citi, GS
Keep an eye on :
Keep an eye on :
- ALO FP : Alstom, Hargreaves Lansdown, Kingfisher Short Sellers Active
- AMBUB DC : Ambu 1Q Ebit Before Significant Items Beats Estimates
- ARJOB SS : Arjo Sees 2024 Organic Revenue +3% to +5%
- MT NA : Nucor 4Q EPS Beats Estimates
- RCUS US : Gilead to Invest Additional $320m in Arcus, Raise Stake to 33%
- BBVA SM : BBVA Announces €780 Million Buyback as Earnings Beat Estimates
- BA US : Boeing Explores Engineering Solution for Max 7 Anti-Ice Issue
- BUCN SW : Bucher FY Sales Misses Estimates
- ROO LN : Delivery Hero Exits Deliveroo Stake With £83 Million Share Sale, Deliveroo Offering by Delivery Hero Prices at GBP1.13/Share
- DHER GY : Delivery Hero's Deliveroo Sale Wise, Cuts Low-Growth Risk: React
- DHER GY : Delivery Hero's Deliveroo Sale Wise, Cuts Low-Growth Risk: React
- FLS DC : FLSmidth Prelim 4Q Sales Beats Est., Explores Cement Unit Sale
- FYB GY : Richter Acquires 9.08% Formycon Stake in Capital Increase
- G IM : *GENERALI PLANS TO START €500M SHARE BUYBACK PROGRAM IN 2024
- GRE SM : Grenergy Sells 174 MW of Renewable Assets Within Peru for $150M
- HLAG GY : Hapag-Lloyd Prelim FY Ebitda Misses Estimates
- IMCR US : Immunocore Said to Market $300M Convertibles with 2.5%-3% Coupon
- KESKOB FH : Kesko 4Q Adjusted Ebit Beats Estimates
- NANO FP : Nanobiotix Announces Achievement of $20M Development Milestone Payment Related to Ongoing Global Phase 3 Head and Neck Cancer
- NCCB SS : NCC 4Q Net Income Beats Estimates
- NUE US : Nucor 4Q EPS Beats Estimates
- QFUEL NO : Quantafuel Holder to Buy Rest of Shares at NOK6.38/Share
- RVRC SS : RVRC Holding 2Q Net Sales Beats Estimates
- RNO FP : Renault to Discuss Ampere Investment w/ Nissan After Pulling IPO
- RNO FP : Renault to Discuss Ampere Investment w/ Nissan After Pulling IPO
- TEL2B SS : Tele2 4Q Adjusted Ebitda After Leases Beats Estimates
- TSLA US : Musk Says First Human Received Neuralink Implant Sunday
- TKA GY : Thyssenkrupp M&A Talks Complicated by Steel Industry Woes: CEO
- TCELL TI : Niel to Buy Turkcell Ukraine Arm for Over $500 Million
- VOD LN : Niel Says Vodafone ‘Has a Problem’ in Italian Market