Hong Kong shares led gains across Asian equity markets Wednesday and US and European stock futures rose in a sign of growing risk appetite. The dollar retreated against major currencies and the yen strengthened. The Hang Seng index traded more than 2% higher to levels not seen since July, helped by a jump of as much as 8% for Alibaba Group Holding Ltd. shares following news that Ant Group Co., in which the e-commerce giant holds a stake, won approval to raise $1.5 billion for its consumer unit. Gains in Hong Kong’s benchmark index accelerated after news Chinese officials were considering further support for property developers. Shares in mainland China edged higher and equity benchmarks in Australia and South Korea rose. European equity futures gained alongside contracts for the S&P 500 after the US index fell in Tuesday trade. Japanese equities ran against the grain to fall about 1%. The offshore yuan rose to the highest level since July and the dollar fell against all G-10 currencies, led by the Australian dollar, in a further signal of investor support for the Chinese economy. The yen inched higher following efforts by the Bank of Japan to depress yields on government debt. Recession concerns lingered, with former New York Federal Reserve President William Dudley saying that an imminent slowdown won’t be severe while investors continue to mull the impact the central bank’s tightening will have on the economy. They’ll be paying attention to the jobs report this week, as softening in the labor market remains the Fed’s focus. The focus on China followed fledgling signs Covid infections may have peaked in some of its biggest cities. Anecdotal evidence showed the country remained in the grip of the pandemic with crematoriums overwhelmed in large cities such as Shanghai. US After Hours SGH +7% higher on earnings; VERA -60.7% falls on trial data
Nikkei -1,45% Hang Seng +2,50% CSI +0,02% Shanghai +0,10% Shenzen -0,06%
Eur$ 1,0568 CNH 6,8932 CNY 6,8889 JPY 130,95 GBP 1,1986 CHF 0,9337 RUB 73,0500 TRY 18,7318 WTI$ 76,71 Gold 1845 BTC 18,865 ETH 1,249
S&P +0,12% Nasdaq +0,27% EuroStoxx +0,21% FTSE +0,23% Dax +0,24% SMI
Macro :
- Pound’s Outlook Dims as BOE Takes Dovish Crown From BOJ
- Hedge Fund Debuts in Biggest Launch Led by a Woman
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