Asian stocks fell amid speculation investors are trimming some of their holdings before a rush of events in coming days including major central bank decisions, key economic data and earnings from US megacap companies. The MSCI Asia Pacific Index extended July’s decline to 0.5%, set for its first monthly drop since April. Shares in Hong Kong led losses Tuesday, falling more than 1%, as optimism waned over the Chinese government’s stimulus plans. Australian and Japanese stocks also slipped, and US equity futures inched lower. The yen held near the strongest level in 12 weeks before a Bank of Japan policy decision on Wednesday. The dollar crept higher against most of its major peers as traders positioned for a Federal Reserve review the same day. Treasuries were little changed, heading for a third month of gains. BOJ Governor Kazuo Ueda will have investors on high alert Wednesday when he lays out a detailed plan for quantitative tightening after years of massive easing. He may also double down by adding an interest-rate hike. The central bank is looking for evidence sustained increases in wages will spur a recovery in consumption and kindle demand-led price growth, allowing authorities to further normalize monetary policy. China’s bonds advanced, with 10-year yields dropping to another record low. The rally in the securities is seen testing the patience of the central bank, which is walking a tightrope between boosting growth with easing measures and reining in potential financial shocks from an overheated bond market. Investors are also on the lookout for the outcome of a Chinese Politburo meeting — possibly some time this week — for any guidance on potential stimulus measures. Still, sentiment remains bearish after efforts to help growth this year failed to reverse a property downturn and revive subdued consumer demand. The S&P 500 closed a fraction higher Monday with a gauge of the “Magnificent Seven” megacaps rising 1%. The Russell 2000 of smaller firms fell 1.1%. Tesla Inc. jumped on a bullish Morgan Stanley call. McDonald’s Corp. investors shrugged off a sales drop as executives pledged to launch new promotions. US policymakers, who’ve kept rates at a more than two-decade high for a full year, are widely expected to leave them there again on Wednesday. But investors see officials signaling a move in September as risks grow of imperiling a solid, but moderating job market. July’s wild ride in stocks has underscored how betting on seven large tech companies is no longer a simple, slam-dunk trade. During most of the month, investors jumped into other corners of the market on speculation Fed cuts will further boost Corporate America. Still, the S&P 500 ended up suffering two straight weeks of losses, dragged down by its most-influential group - technology. In corporate news, BHP Group Ltd. has teamed up with Lundin Mining Corp. to buy Filo Corp., gaining access to South American copper projects. Commodities have erased all of their gains this year as a challenging outlook in China, combined with a selloff in US natural gas and losses in foodstuffs, have weighed on raw materials. Gold edged lower for a second day as the dollar steadied. US After Hours FFIV +14%, SFM +14% among big gainers following earnings; SYM -17.3%, LSCC -11.5% turning significantly lower on quarterly numbers
Nikkei -0.07% Hang Seng -1.40% CSI -1.08% Shanghai -0.65% Shenzen -0.50%
Eur$ 1.0820 CNH 7.2735 CNY 7.2617 JPY 154.75 GBP 1.2848 CHF 0.8873 RUB 86.4111 TRY 33.0708 WTI$ 75.50 Gold 2,388 BTC 66,500 -1.5% ETH 3,310
S&P -0.03% Nasdaq -0.06% EuroStoxx +0.21% FTSE -0.09% Dax +0.10% SMI +0.26%
Macro :
- France’s Economic Growth Beats Forecasts in Boost for Euro Area
- Crypto Stocks Slump With Bitcoin, Reversing Trump-Fueled Rally
- Chinese EVs Seize Record 11% Share in Europe Ahead of Tariffs
- UK Housing Market Signaling Revival as Deals Jump, Zoopla Says
- Yen Has Scope to Rally to 145/$ on a BOJ ‘Hawkish Pivot’: BofA
- Yen Has Scope to Rally to 145/$ on a BOJ ‘Hawkish Pivot’: BofA
- Hedge Funds Selling Industrials at a Record Pace, Goldman Says
- Airline Industry Gets Win After Court Stalls Fee Disclosure Rule
- BOJ May Matter More Than Fed After Yen’s Wild Ride: Macro View
- US IPO Market to Slow After Lineage, With Quiet Summer Ahead
- IMF Agrees to $3.4 Billion Funding Program for Ethiopia
Keep an eye on :
Keep an eye on :
- ANA SM : Acciona 1H Net Income Beats Estimates
- ANE SM : Acciona Energia 1H Ebit Beats Estimates
- AC FP : Olympic Fever Drives Surge of Chinese, Japanese Fans in Paris
- ADBE US : Canva to Buy AI Startup in Second Deal This Year to Catch Adobe
- ALLFG NA : Allfunds 1H Adjusted Ebitda EU210.3M Vs. EU171.8M Y/y
- Armani : Armani Group 2023 Revenue at €2.45b, +6% at Const. Exch. Rates
- AMKR US : *AMKOR SHARES FALL 6% POSTMARKET AFTER PROVIDING 3Q REV FORECAST
- AVOL SW : Avolta AG 1H Sales Matches Estimates
- BAC US : Buffett Cuts BofA Stake Again, Unloading $3 Billion This Month
- BYON US : Beyond Inc 2Q Adjusted Loss per Share 76C, Est. Loss/Shr 85C --> +17% In After Hours
- BHP AU : BHP to Get Access to South America Copper in $3 Billion Deal
- BP/ LN : BP 2Q Adjusted Ebit Misses Estimates
- ALCLS FP : Cellectis Granted FDA Orphan Drug Status for Alemtuzumab
- CHK US : Chesapeake Energy 2Q Adjusted EPS Beats Estimates
- CLN SW : Clariant 1H Adjusted Ebitda Meets Estimates
- COR PL : Corticeira Amorim 1H Net Income Falls 29% to EU36.5m Y/y
- 1COV GY : Covestro Narrows FY Ebitda Forecast
- CRDA LN : Croda 1H Consumer Care Sales Misses Estimates
- CTT PL : CTT 1H Net Income EU19.8M Vs. EU26M Y/y
- DSFIR NA : DSM-Firmenich FY Adjusted Ebitda Forecast Beats Estimates
- EBOX LN : Brookfield’s Deadline for Tritax EuroBox Offer Now Aug. 26
- EMEIS FP : Emeis to Buy 8 Buildings That It Had Leased for EU185 Million
- FAE SM : Faes Farma 1H Net Income EU58.4M Vs. EU53M Y/y
- FFIV US : F5 SHARES JUMP 15% POSTMARKET AS 4Q ADJ. EPS VIEW TOPS ESTIMATE
- FORTUM FH : Fortum Seeks to Sell India Renewable, EV Charging Stakes: Mint
- FRAS LN : Frasers Raises Voting Rights in Boohoo From 24.05% to 25.02%
- FME GY : Fresenius Medical’s Cost Cuts Help Results Beat Estimates
- FPE GY : FUCHS SE 1H Revenue Meets Estimates
- GALD SW : Galderma’s Relfydess Gets Positive Decision for Use in Europe
- GLEN LN : Glencore 1H Own-Source Copper Production Beats Estimates
- GRF SM : Grifols Gets Expanded Xembify Label For Treatment Naive
- HEI GY : Heidelberg Materials 2Q Revenue Meets Estimates
- HLAN US : German American to Buy Heartland Banccorp
- HOLX US : HOLOGIC SHARES DROP 8.3% AS 4Q REVENUE FORECAST MISSES ESTIMATE
- NK FP : Imerys 2Q Revenue Beats Estimates
- INA PL : Inapa Submits Initial Insolvency Petition to Court in Lisbon
- IDR SM : Indra Boosts FY Ebit Forecast
- INTRUM SS : Intrum to Extend Early-Bird Consent Fee for Bondholder Talks
- IPCO SS : IPC 2Q Revenue Misses Estimates
- IRE IM : Iren’s Board Starts Examining Audits Tied to Signorini’s Role
- KARN SW : Kardex 1H Revenue Beats Estimates (1)
- LSCC US : Lattice Semi 3Q Revenue Forecast Misses Estimates --> -8% In After Hours
- LTMC IM : Lottomatica 1H Adjusted Ebitda Meets Estimates, Lottomatica Lifts Guidance; Co. Refinanced Notes
- MUSTI FH : Musti Group 3Q Operating Profit EU1.74M
- NOVN SW : Novartis Scemblix Gets FDA Priority Review for CML
- OCDO LN : Ocado Launches Offering of £350m of 2029 Senior Unsecured Notes
- OHLA SM : OHLA Reports €35 Million Loss, Aims Capital Increase End of Year
- ON US : --> +12% In After Hours
- PSH NA : Baupost Opts Out of IPO for Bill Ackman’s Pershing Square Fund
- PST IM : Poste Italiane Boosts FY Ebit Forecast, Beats Estimates
- RBI AV : Raiffeisen 2Q Net Income Beats Estimates
- RDC GY : Redcare Pharmacy NV 2Q Revenue Meets Estimates
- RXL FP : Rexel 1H Adjusted Ebita Misses Estimates
- RIO LN : Rio Tinto’s Copper Output, Capital Expenditure in Focus: Preview
- ROG SW : Roche’s Vabysmo Gets EU Approval for Retinal Vein Occlusion
- SCYR SM : Sacyr Hires Santander, Deutsche Bank to Find Partner: Reuters
- 005930 KS : Samsung Begins Closing Gap in Making AI Memory Chips for Nvidia
- SCR FP : Scor 2Q Net Loss EU308M, Est. Loss EU207M
- SIGN SW : SIG Group Cuts FY Adjusted Ebitda Margin Forecast
- SIKA SW : Sika 1H Ebitda Beats Estimates
- STAN LN : Standard Chartered 2Q Adjusted Pretax Profit Beats Estimates
- STLA US : Chinese EVs Seize Record 11% Share in Europe Ahead of Tariffs
- TSLA US : Tesla Analyst Nearly Crashes While Testing ‘Full Self-Driving’
- UNI SM : Unicaja 2Q Net Income Misses Estimates
- VWS DC : Vestas Secures 795 MW Order for Oranjewind Offshore Wind Farm
- VWS DC : Vestas Secures 795 MW Order for Oranjewind Offshore Wind Farm
- VFS US : VinFast to Restate 2023, 1Q Results Due to Accounting Issues
- VOW GY : Chinese EVs Seize Record 11% Share in Europe Ahead of Tariffs
- WBD US : Warner Bros Discovery in talks with UK streamers over HBO programmes
- WEIR LN : Weir 1H Adjusted Pretax Profit Beats Estimates
- WPP LN : WPP Set to Pick Former BT Chief Philip Jansen as New Chair: FT