Asia stocks diverged as China shares rallied, while Japanese equities slumped on their first trading day of the year as investors caught up with a slew of negative news ranging from weak economic data to Apple Inc.’s sales outlook cut. U.S. stock futures climbed and the yen slipped after Thursday’s shock surge.
The Shanghai Composite Index climbed 1.4 percent. Concern over China-U.S. trade tensions eased as vice ministers from the two countries prepare to hold talks starting Monday. News that the U.S. House passed a spending-bill package in an effort to end a partial government shutdown also helped sentiment, sending S&P 500 Index futures higher. The yen, seen as a haven trade, slipped after it whipsawed on Thursday. While stocks pared losses in Japan, they were still well in the red as traders returned from an extended New Year’s break.
“I wouldn’t be surprised if we get better communication on trade,” said Stefan Hofer, chief investment strategist at LGT Bank. Still, “we have beginning-of-the-year jitters, low levels of liquidity and exaggerated swings, which feed people’s worst fears -- which I simply can’t sign up to at the moment.”
Stocks across Asia earlier started the day on a weaker tone, following declines in New York. The S&P 500 slid 2.5 percent on Thursday in its steepest sell-off since Christmas Eve as Apple tumbled after citing an unforeseen slowdown in China. A measure of U.S. manufacturing plunged the most since October 2008.
US After Hours AMID +30.2% (receives revised buyout offer from ArcLight), LNDC -7.4%, FLXN -2.8% following earnings/guidance
Nikkei -2.26% Hang Seng +1.64% CSI +2.22% Shanghai +1.89% Shenzen +2.44%
Eur$ 1.1393 CNH 6.8744 CNY 6.8650 JPY 108.18 GBP 1.2638 CHF 0.9868 RUB 68.5340 TRY 5.4399 WTI$ 47.59 +1.06%
S&P +1% EuroStoxx +0.88% FTSE +0.60% Dax 1.075% SMI +0.44%
Macro :
- China, U.S. to Hold Vice-Minister Level Trade Talks Jan. 7-8
- China Debate Over Shrinking Birth Rate Highlights Growth Concern
- Moody’s Sees Medium-Term WTI Crude Price Band $50-$70/Barrel
- API Is Said to Report U.S. Crude Stocks Fell 4.46M BBL Last Week
Keep an eye on :
- ADYEN NA : Adyen could be potential takeover target - Buckingam Research Group
- ATO FP : Atos CEO Thierry Breton Says Paris Will Benefit From Brexit
- CS FP : AXA Equitable Life Insurance Interests in AB US Moved to Unit
- BSLN SW : Basilea Says Cresemba Sales by Partners Exceeded $150M in 2018
- BGBIO NO : BerGenBio Start Phase II Study of Bemcentinib in MDS and AML
- BA/ LN : Kingsport, Tenn. Fire Dept. Responds to BAE Holston Defense Fire
- CRG IM : Carige Investor Malacalza Says Needs More Info to Back Cap Hike
- CRG IM : Italy Treasury’s SGA Negotiating With Carige Admins: Messaggero
- DAI GY : Daimler December U.S. Auto Sales -8%
- DASNKE DC : Most Danes Have Little Faith in Control of Banks: Borsen
- GSK LN : Retrophin Names Eric Dube CEO to Succeed Stephen Aselage
- HUBN SW : Huber+Suhner Sees ’18 Net Sales ‘Slightly’ Above Target
- ITX SM : Inditex Still Top Pick for Margin Upside, Cash Return, RBC Says
- MC FP :
- NOKIA FH : Nokia Raised as BMO Sees Improving Telco Spending Environment
- RNO FP : Ghosn’s Lawyers Seek Explanation From Court on His Detention
- SPU NO : Spectrum Sees 4Q Gross Revenue About $71M vs $56M Year Earlier
- DG FP : Grand Paris President Dallard Confirms Budget Target at EU35B
- VISTIN NO : Vistin Pharma Head of Energy Trading Torbjorn Kjus Resigns
- VOLVB SS : Volvo Group Makes SEK7b Provision to Address Emission Issue
- VOW3 GY : VW December U.S. Car Sales +6.8%