Chinese shares in Hong Kong fell as investors hit pause on the past month’s world-beating rally. Japanese stocks advanced after fresh weakness in the yen. A gauge of Hong Kong-listed Chinese companies dropped as much as 4.9%, halting a 13-day rally that was fueled by optimism over measures to stimulate the economy. The Hang Seng Index sank as much as 4.5%, its biggest intraday drop in almost two years. Markets in mainland China remain shut for Golden Week. Oil gained for a third day amid tensions in the Middle East, while US stock futures fell.
Japanese shares rallied, with the Topix index rising more than 1% after new prime minister Shigeru Ishiba said the economy isn’t ready for another interest-rate increase. The yen fell to a more than one-month low against the dollar, extending its 2% decline Wednesday. Renewed vigor in the dollar added to the pressure on the yen as stronger-than-expected ADP jobs data led traders to pare bets on aggressive Federal Reserve rate cuts. Swaps traders were penciling in some 33 basis points of policy easing at the central bank’s November meeting, down from 44 basis points just last week. Last week, China’s central bank announced stimulus measures in a bid to reach this year’s economic growth target. China’s CSI 300 Index officially entered a bull market on Monday, before closing for a week-long public holiday. Global equities are on course for their first weekly loss in four weeks amid the lingering threat of an escalation of geopolitical tensions in the Middle East as well as speculation over the pace of the Fed’s monetary policy easing. Investors focus will be on Friday’s nonfarm payroll data to further gauge the size of the next Fed cut. Oil rose as investors awaited Israel’s response to Iran’s missile attack, with US President Joe Biden urging Israel to hold off from attacking Iran’s nuclear facilities. Bloomberg’s dollar index rose for a fourth day, bolstered by rising Treasury yields. The US 10-year yield rose one basis point to 3.79% in Asian trade after jumping five basis points in New York amid the flare-up in Middle-East tensions. US After Hours LEVI -9.8% lower on earnings and review of Dockers brand; BIGC +0.6% names new CEO.
Nikkei +2.07% Hang Seng -1.06% CSI Closed Shanghai Closed Shenzen Closed
Eur$ 1.1034 CNH 7.0471 CNY 7.0187 JPY 146.84 GBP 1.3249 CHF 0.8497 RUB 95.6501 TRY 34.2289 WTI$ 71.02 +1.31% Gold 2,656 -0.10% BTC 61,395 +0.80% ETH 2,400 +0.55%
S&P -0.22% Nasdaq -0.36% EuroStoxx -0.52% FTSE -0.05% Dax -0.56% SMI -0.49%
Macro :
- Class 8 Truck North American Orders Fall 3.5% YoY in September
- JPMorgan Says Market for PE-Backed IPOs ‘Very’ Open: ECM Watch
- JPMorgan Says Market for PE-Backed IPOs ‘Very’ Open: ECM Watch
- Human-to-Human Bird Flu Spread in Missouri Is Unlikely, CDC Says
- German Large-, Mid-Cap Equities’ Challenges Don’t Stop at Autos
- Buffett Targeting Japanese Banks, Insurer Shares, Analysts Say
Keep an eye on :
Keep an eye on :
- CS FP : AXA Plans to Buy Back Up to €452 Million Shares
- BAMI IM : Italy Weighs New Measure to Tax Bank Stock Options: Messaggero
- BMW GY : BMW Is Said to Rule Out Investing in New Northvolt Funding Round
- EN FP : Bouygues to Launch New Brand, Confirms 2024 Guidance
- BLND LN : British Land's Retail-Park Purchase Adds Scale Near Nadir: React
- CLIMEB SS : Climeon Offering of 98.4m Shares Prices at SEK0.508/Share
- FLNG NO : Flex LNG files automatic mixed securities shelf
- GILD US : Emcure Pharma in Pact With Gilead to Manufacture HIV Drug
- LRE SM : Vukile Says Offer for Stake in Lar España Increased to €8.30/Shr
- LEVI US : Levi Strauss Shares Slump on Tempered Year Sales Forecast
- MC FP : LVMH Signs Major Sponsorship Deal With F1, Replacing Rolex
- MC FP : LVMH Taps Ex-Ralph Lauren Designer at Celine as Slimane Goes
- NVDA US : Nvidia Rises Afterhours as CEO Says Blackwell Demand ‘Insane’
- NYR BB : Le Soir: Nyrstar cleared in Brussels
- SAP GY : SAP, Carahsoft Probe Expanded to Work With Nearly 100 Agencies
- SKAB SS : Skanska Gets Orders in US Worth About SEK880m
- SARO US : StandardAero Shares Surge 31% After IPO Raises $1.44 Billion
- TIT IM : Italy, Asterion Make New €700M Bid for Telecom Italia’s Sparkle
- TIT IM : Telecom Italia May Accept Disappointing Sparkle Offer: React
- TSCO LN : Tesco 1H Adjusted Operating Profit Beats Estimates
- TGS NO : TGS Gets 4D Streamer Contract in Southern Atlantic
- TTE FP : TotalEnergies CEO Says Plan for NY Listing is ‘Work in Progress’
- TTE FP : TotalEnergies CEO Says Plan for NY Listing is ‘Work in Progress’
- 8TRA GY : Class 8 Truck North American Orders Fall 3.5% YoY in September
- UCG IM : Italy Weighs New Measure to Tax Bank Stock Options: Messaggero
- VNA GY : Vonovia Surpasses Sales Target With New Deals Worth €1.8 Billion
- ZURN SW : Zurich Insurance to Present 2025-2027 Plan on Nov 21