Stocks in Asia declined after South Korea’s political turmoil triggered by a brief imposition of martial law put investors on edge. The MSCI Asia Pacific Index was down 0.3%, with the Kospi Index falling as much as 2.3%. Shares were mixed in Japan and traded lower in mainland China. The won advanced after tumbling overnight in offshore trading. South Korean President Yoon Suk Yeol’s sudden declaration of martial law late Tuesday — which was later revoked — looks set to thrust the nation into a period of political unrest, with the opposition now pushing for his impeachment. The uncertainties surrounding a major economy and pillar of global trade increased caution among investors in Asia, at a time when Donald Trump’s imminent return and China’s economic woes have already hurt sentiment. US equity futures climbed, as traders shifted their focus to Jerome Powell’s remarks and Friday’s payrolls report for clues on whether the Federal Reserve will cut rates in December. Data due later Wednesday on services and manufacturing will give an indication on the economy’s health, after US job openings picked up in October while layoffs eased. Fed Bank of San Francisco President Mary Daly said a rate cut this month isn’t certain, but remains on the table. Treasury 10-year yields were little changed at 4.22% after rising three basis points in the previous session. A Bloomberg gauge of the dollar held steady. The euro edged higher against the greenback with all eyes on the political standoff in France. President Emmanuel Macron called on French lawmakers to set aside their personal ambition and reject a vote that would topple the government. Back in Asia, investors are assessing what’s next for South Korea after the opposition Democratic Party said it will pursue charges of treason and impeachment against Yoon for declaring martial law illegally. The Bank of Korea said it will increase short-term liquidity and take “active” steps in currency markets as needed to ensure stability. In China, the central bank increased its support for the yuan by setting a significantly stronger-than-expected daily reference rate. The yuan edged higher. The Aussie dollar slumped after data showed Australia’s economic growth remained sluggish in the three months through September. Oil steadied after the biggest advance in more than two weeks. Gold stabilized after rising on Tuesday as political turmoil in South Korea and France buoyed demand for haven assets. US After Hours
PSTG +23.8%, OKTA +14.5%, MRVL +9.6%, CRM +6.9% higher on earnings; CURV -23.8%, BASE -10% lower on earnings; CPB -3.3% names a new CEO, also reports earnings.
Nikkei +0.07% Hang Seng -0.10% CSI -0.73% Shanghai -0.63% Shenzen -1.50%
Eur$ 1.0520 CNH 7.2786 CNY 7.2690 JPY 149.87 GBP 1.2696 CHF 0.8857 RUB 105.0058 TRY 34.7600 WTI$ 70.13 +0.27% Gold 2,650 +0.27% BTC 96,690 +0.62% ETH 3,689 +2.04%
S&P +0.12% Nasdaq +0.30% EuroStoxx -0.12% FTSE -0.32% Dax -0.05% SMI -0.10%
Macro :
- Bitcoin Churns Near $96,000 as Crypto Awaits Trump’s Next Step
- South Korea Opposition Submits Proposal to Impeach Yoon
- London Stock Market Shrinks at Fastest Pace in Over a Decade
- Bundesbank Chief Calls for German Govt to Reform Debt Brake: FT
- AQR’s Cliff Asness Says AI Has Now Taken Over Parts of His Job
Keep an eye on :
Keep an eye on :
- AF FP : Air France to Launch Paris-Riyadh Service in Summer 2025
- CAP FP : Capgemini SE: Capgemini Closes the Acquisition of Syniti
- CO FP : Casino Group Sells Assets to Les Mousquetaires for EU77m
- CALT IM : Caltagirone Raises Stake in Monte Paschi to 5.026%: Consob
- CLASB SS : CORRECT: Clas Ohlson 2Q Operating Profit Meets Estimates
- CVC NA : KKR Nears Deal to Buy Healthcare Global Enterprises from CVC: ET
- DBK GY : I Squared Hires Deutsche Bank to Bid for Urbaser: Cinco Dias
- ERICB SS : Ericsson Wins Multiyear, Multibillion Bharti Network Contract
- GXO US : GXO Is Said to Spurn Acquisition Offers as CEO Wilson Steps Down
- HVPE LN : Activist Metage Asks HarbourVest Global to Revamp Strategy: FT
- KER FP : Kering Board Approves €2.00 Interim Dividend Payment
- META US : Meta Seeks New Nuclear Reactors to Run US Data Centers
- META US : Meta’s Mark Zuckerberg Files to Sell 35,921 Shares
- MFEB IM : MFE Hires UniCredit for €3.4b Term Loan, Messaggero Reports
- BMPS IM : Caltagirone Raises Stake in Monte Paschi to 5.026%: Consob
- RIO LN : Rio Tinto, Vargas, Others to Study Finland Aluminium Project
- RIO LN : Rio Holder Palliser Renews Call for Miner to Quit UK Listing: FT
- RR/ LN : Rolls-Royce Hits £50 Billion Valuation After Huge Stock Rally
- 3382 JP : Seven & i $60 Billion Management Buyout to Include US Assets IPO
- SGO FP : Saint-Gobain Cancels 5M Shares, Hits Buyback Target Year Early
- SGO FP : Saint-Gobain Cancels 5M Shares, Hits Buyback Target Year Early
- HO FP : Thales Sees ‘Decade of Growing Demand’ in Defense: CFO
- Thames Water :Thames Water Creditors Veto Use of £3b Loan to Pay Fines: FT
- TRYG DC : Tryg Sets New Financial Targets for 2027, Starts Share Buyback
- FP FP : Total Said to Near €2 Billion Deal for Renewable Firm VSB (2)