Stocks in Asia declined as traders braced for volatility ahead of next week’s US election and the Federal Reserve’s rate decision. Benchmarks in mainland China and Hong Kong slumped more than 1%, leading losses in the region. The Topix and Nikkei indexes advanced, boosted by the yen’s recent weakness and gains in the tech sector following a record close for the Nasdaq Composite overnight. US equity futures edged higher in Asia after the S&P 500 closed up 0.2%. A Bloomberg gauge of the dollar snapped a three-day advance as traders waited for US growth data due later Wednesday to assess the strength of the economy. Treasury yields were little changed. In addition to risks posed by US events, investors in Asia have their eyes set on the Bank of Japan’s decision on Thursday and a meeting by China’s top legislative body to be held Nov. 4-8, where further fiscal stimulus may be announced. Asia’s regional equity benchmark is set for its worst monthly performance in a year. In late US trading, Alphabet Inc. climbed more than 5% as the Google parent’s earnings beat estimates, while Advanced Micro Devices Inc. sank 7% amid a lackluster revenue forecast. Just about a week away from the Fed decision, investors are turning their focus to three high-profile reports in the US that look set to show underlying resilience in the economy and a temporary hiccup in job growth. Forecasts are calling for a solid 3% annualized pace for gross domestic product that would match growth seen in the previous three months. Treasuries are on track for their worst month in more than two years amid signs of economic strength, posturing for the election and heavy supply of new notes and bonds. Oil steadied after a two-day decline on the prospect for a further easing of hostilities in the Middle East. Gold hit a fresh record early on Wednesday as traders weighed potential market disruption ahead of the election. Bitcoin, seen as a Trump trade, hovered near an all-time high. Back in Asia, China is in the spotlight after Reuters reported that authorities were weighing approval of 10 trillion yuan ($1.4 trillion) in additional borrowing in the coming years to bolster the economy and address local government debt risks. Australia’s core inflation remained elevated last quarter, reinforcing the Reserve Bank’s view that price pressures will take time to dissipate. The Aussie dollar fell against the dollar for the fourth session. US After Hours RDDT +21.9%, SNAP +8.2%, CAKE +5.9%, GOOG +5.7%, EA +2% higher on earnings; QRVO -15.8%, AMD -7.9%, FSLR -5.8%, CMG -4.8% lower on earnings.
Nikkei +0.96% Hang Seng -1.53% CSI -1.01% Shanghai -0.74% Shenzen -0.26%
Eur$ 1.0815 CNH 7.1511 CNY 7.1357 JPY 153.26 GBP 1.2998 CHF 0.8674 RUB 97.4551 TRY 34.2887 WTI$ 67.73 +0.77% Gold 2,782 +0.29% BTC 72,370 +0.08% ETH 2,643 +0.86%
S&P +0.22% Nasdaq +0.25% EuroStoxx -0.16% FTSE -0.32% Dax -0.18% SMI +0.08%
Macro :
- EU Presses Ahead With Tariffs on China EVs, Risking Retaliation
- EU Tariffs on Chinese-Made Electric Vehicles Come Into Force
- Goldman Says European Small-Cap Stocks Struggle to Outperform
Keep an eye on :
Keep an eye on :
- AED BB : Aedifica Sees FY EPRA EPS at Least EU4.90, Saw EU4.85, Aedifica Boosts EPRA Guidance for Full Year
- AENA SM : Aena 9M Net Income EU1.45B Vs. EU1.14B Y/y
- AKRBP NO : Aker BP Narrows FY Avg Production Forecast
- AMUN FP : Amundi 3Q Net Inflows Misses Estimates
- ANTIN FP : Antin Assets Under Management EU32.3B
- AAPL US : Apple Suppliers Fall After Weak Qorvo Forecast Raises Fears (1)
- ASM NA : ASM Intl 3Q Orders Beats Estimates, ASM Orders Beat Estimates on Artificial Intelligence Boom
- AML LN : Aston Martin 3Q Revenue Beats Estimates
- BMPS IM : Italy May Sell New Paschi Stake After 9M Results: Corriere
- BAS GY : BASF Sees FY Adj. Ebitda Low End of EU8B to EU8.6B, Est. EU7.92B
- BIM FP : BioMerieux 3Q Organic Sales Beats Estimates
- BA US : Boeing, Union Hold ‘Productive’ Talks in Attempt to End Strike
- BA/ LN : BAE’s Barrow Site Had Significant Fire, No Nuclear Risk: Police
- CABP LN : CAB Payments Says Performance is in Line With Expectations
- CABK SM : CaixaBank Chairman Goirigolzarri Set to Step Down: La Vanguardia
- CPR IM : Campari Profit Drops With Bad Weather, Weaker Demand Taking Toll
- CAP FP : Capgemini Cuts FY Revenue in Constant Currency Forecast
- BMRN US : BioMarin Boosts FY Adjusted EPS Forecast, Beats Estimates
- BRG NO : Borregaard 3Q Pretax Profit Meets Estimates, 3Q Ebitda Beats Estimates
- DTG GY : Daimler Truck Books EU180m 3Q Charge Amid Talks on China Ops
- EA US : Electronic Arts Boosts FY Net Bookings Forecast: Snapshot
- EDP PL : EDP Says It Is Not a Defendant in Prosecutor’s EDP/CMEC Case
- ELE SM : Endesa 9M Net Income EU1.40B Vs. EU1.06B Y/y
- EQNR NO : Equinor to Buy Marcellus Shale Wells From EQT for $1.25 Billion
- ETL FP : Eutelsat 1Q Revenue Misses Estimates
- ETL FP : Eutelsat 1Q Revenue Misses Estimates
- FER SM : Ferrovial 9M Adjusted Ebit EU667M Vs. EU393M Y/y
- FNAC FP : Fnac Darty Confirms Reopening Unieuro Tender Period Nov. 4-8
- FNAC FP : Fnac Darty Confirms Reopening Unieuro Tender Period Nov. 4-8
- FPE GY : FUCHS SE 9M Ebit EU334M Vs. EU313M Y/y
- GF SW : Georg Fischer to Sell GF Machining Solutions to United Grinding
- GLJ GY : Grenke Cuts FY Net Income Forecast
- HHFA GY : Hamburger Hafen Boosts FY Ebit Forecast
- IDR SM : Indra 3Q Net Income Beats Estimates
- KESKOB FH : Kesko 3Q Net Sales Meets Estimates, Kesko Narrows FY Adjusted Ebit Forecast
- KGX GY : Kion Narrows FY Adjusted Ebit Forecast, Beats Estimates
- LAND SW : Landis + Gyr 1H Ebitda $108.5M Vs. $99.8M Y/y
- LR FP : Legrand Gets €43M French Fine Over Derogated Prices Application
- LTMC IM : Lottomatica 9M Adjusted Ebitda EU483.1M Vs. EU426.4M Y/y
- MELE BB : Melexis 3Q Gross Margin Misses Estimates, Melexis Cuts FY Sales, Margin Outlook
- MONC IM : Moncler 3Q Revenue Misses Estimates
- MDLZ US : Mondelez 3Q Adjusted EPS Beats Estimates
- NEX FP : Nexans 3Q Organic Revenue Misses Estimates
- NUMND NO : Nordic Unmanned Offers 90m Shares at NOK0.50/Share
- NVDA US : OpenAI Building In-House Chip with Broadcom, TSMC: Reuters
- NVDA US : GQG Partners Cuts Back Nvidia Holdings for Risk Management
- OKDBV FH : Oriola 3Q Net Sales Beats Estimates
- PHM SM : Pharma Mar 9M Net Income EU7.44M Vs. EU7.96M Y/y
- PIHLIS FH : Pihlajalinna Prelim 3Q Revenue Beats Ests.; Lifts Profit Outlook
- PUIG SM : Jean Paul Gaultier Owner Puig Brands Posts Higher Revenue Boosted by Fragrances
- RBI AV : Raiffeisen Slashes Russia Loans, Deposits Due to ECB Pressure
- RED SM : Redeia 3Q Revenue Misses Estimates
- RXL FP : Rexel Says Got €124M Fine From French Competition Authority
- IDS LN : Royal Mail couriers vote to strike as labour tensions mount
- SGO FP : Saint-Gobain 3Q Sales Meets Estimates
- 000660 KS : Samsung’s Sudden $122 Billion Fall Shows Cost of Missing AI Boom
- SDZ SW : Sandoz Group 9M Net Sales $7.64B Vs. $7.10B Y/y
- SHOT SS : Scandic Outlines Financial Targets, Starts Buyback of ~SEK300m, Repays Outstanding SEK631m Tax Debt Ahead of Time
- SU FP : Schneider Electric 3Q Organic Revenue Beats Estimates
- SIE GY : Siemens Is Said to Near Deal to Buy Software Group Altair
- SKFB SS : SKF 3Q Adjusted Operating Profit Beats; Cuts FY24 Forecast
- SKFB SS : SKF Sells Non-Core Aerospace Operation in US to Carco for $220m
- SNAP US : *SNAP SHARES CLIMB 6% AFTER 3Q REVENUE, ADJ. EPS BEAT ESTIMATES
- STAN LN : StanChart Boosts Return Plan to $8 Billion as Profit Beats
- SYK US : Stryker Narrows FY Adjusted EPS Forecast
- SYNN SW : Syngenta 3Q Sales Flat at $6.8 billion
- SYAB GY : Cinven to Buy Elliott’s Stake in Synlab, Squeeze-Out to Follow
- SWECB SS : Sweco 3Q Operating Profit Beats Estimates
- TEL NO : Telenor 3Q Ebitda Margin Beats Estimates
- UBSG SW : UBS Ultimately Wants to Buy a US Wealth Manager, Kelleher Says
- UBSG SW : UBS 3Q Net Income Beats Estimates
- UNI SM : Unicaja 3Q Net Income Misses Estimates
- VIV FP : Vivendi Minority Holder Appeals to Regulator Over Spinoff - FT
- VPK NA : Vopak 3Q Adjusted Ebitda EU233.3M, Vopak Boosts FY Adjusted Ebitda Forecast, Beats Estimates
- VOW GY ; VW 3Q Operating Profit Misses Estimates
- VOW GY : Volkswagen Posts Its Lowest Profit Margin Since Pandemic Times
- WAWI NO : Wallenius Wilhelmsen 3Q Ebitda Misses Estimates