Hong Kong stocks led gains among Asian equities ahead of US jobs data that will identify the path ahead for interest rates. A rally in oil prices halted after the commodity had its biggest one-day jump in almost a year. Equities in Japan and South Korea advanced while stocks in Australia and India dropped. Markets in mainland China were shut for a holiday. A gauge of Chinese shares in Hong Kong advanced as traders assessed its recent rally’s sustainability and await details of fiscal stimulus and holiday spending. Futures contracts for the S&P 500 and Nasdaq 100 were steady. An index of dollar declined marginally, but is still poised for the biggest weekly gain in nearly six months as traders pared back expectations for aggressive US rate cuts. Treasuries were flat in Asian trading after selling off on Thursday, increasing yields to levels not seen since September. West Texas Intermediate and Brent crude eased slightly after each rose more than 5% to a one-month high on Thursday. Earlier gains came after puzzling comments from President Joe Biden, who told reporters the US was discussing whether to support potential Israeli strikes against Iranian oil facilities. Investors are concerned that, should Israel strike critical Iranian assets, the Islamic Republic will lash out and escalate the conflict, dragging in more countries and potentially disrupting global energy shipments. Israel said it bombed more than a dozen Hezbollah targets in Beirut on Thursday. The initial buying frenzy in Chinese stocks after Beijing’s stimulus is waning as traders take profit and await policy details and holiday spending data for further confidence. Invesco Ltd.’s chief investment officer for Hong Kong and China, Raymond Ma, who predicted double-digit returns in Chinese equities this year, said there are signs the surge has gone too far for some stocks. Still, strategists at HSBC Holdings Plc and BlackRock Inc. are among Wall Street heavyweights turning bullish on the once beaten-down market. The yen strengthened 0.5% against the dollar, paring some of its recent losses from earlier this week after Japanese Prime Minister Shigeru Ishiba had said the nation isn’t ready for another interest-rate increase.
Amid all the geopolitical uncertainty, investors are looking for further signals on the health of the US economy, with the monthly payrolls report due on Friday. The unemployment rate is forecast to hold steady at 4.2% in September while payrolls are expected to rise by 150,000. Other economic signs showed robustness in the US economy. The Institute for Supply Management’s index of services posted its best reading since February 2023, ahead of Wall Street estimates. Applications for US unemployment benefits rose slightly last week to a level that is consistent with a limited number of layoffs. Continuing claims, a proxy for the number of people receiving benefits, were little changed from the previous week. US After Hours After Hours Summary: Quiet after hours session; MMLP +10% on news it will be acquired; AMKR +1.4% and TSM to collaborate; HZO +1.5% higher on guidance
Nikkei +0.09% Hang Seng +2.05% CSI Closed Shanghai Closed Shenzen Closed
Eur$ 1.1031 CNH 7.0578 CNY 7.0187 JPY 146.05 GBP 1.3134 CHF 0.8507 RUB 94.5616 TRY 34.2385 WTI$ 73.61 -0.14% Gold 2,667 +0.42% BTC 61,187 +0.67% ETH 2,380 +1.62%
S&P +0.07% Nasdaq +0.15% EuroStoxx +0.18% FTSE -0.05% Dax +0.12% SMI +0.12% MIB +0.24% CAC
Macro :
- Blue Owl Said in Talks to Buy IPI Partners for About $1 Billion
- Germany to Vote Against EU Tariffs on Chinese EVs: Reuters
- ExodusPoint Taps Andy Liebeskind to Lead Equity Capital Markets
- Texas Regulator Wants Data Centers to Build Power Plants
- UK to Spend £22 Billion on Carbon Capture Sites as Costs Rise
- Carmakers Dangle £2 Billion in EV Discounts to Boost UK Sales
Keep an eye on :
Keep an eye on :
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- AKZA NA : Akzonobel Starts Review of Portfolio With Focus on South Asia
- B US : Apollo Global in Talks to Acquire Barnes Group: Reuters
- BX US : Blackstone Hires Goldman to Handle Sale of Clarion Events: Sky
- CLNX SM : Cellnex to Bring Forward Dividend Payment to 2025: CEO to Sole
- DSV DC : DSV Offering of 26.4m Shares Prices at DKK1,410.50/Share
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- EMEIS FP : Emeis SA 1H Ebitda EU316M Vs. EU321M Y/y
- EMEIS FP : Emeis SA 1H Ebitda EU316M Vs. EU321M Y/y
- EQVA NO : Eqva Offers Up to NOK25 million Shares at NOK4.80/Share
- HLX US : Helix Energy Solutions Said to Explore Options, Including Sale
- FDJ FP : FDJ Bid for Kindred Succeeds, Extends Offer Until Oct. 18
- LULU US : Lululemon’s China Growth Outlook in Focus for Investor Day
- NAT SM : Natac Natural Ingredients Rated New Buy at JB Capital Markets
- NESTE FH : Neste Starts Search for New Chairman, Helsingin Sanomat Reports
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- HOOD US : Robinhood to Launch Margin Trading in UK in Coming Weeks: FT
- SAN FP : Recordati, Sanofi Sign Deal for Enjaymo Global Rights
- SAN SM : Santander-Backed Ebury Said to Start London IPO Investor Talks
- Shein IPO : Shein Is Said to Plan Investor Meetings Ahead of London IPO
- SKAB SS : Skanska Gets $417m Order for Projects in Rhode Island
- TIT IM : Italy Sees Open Fiber, FiberCop Union as Single Telecom Network
- TEP LN : Telecom Plus Shares Rise as Trading Update Impresses Analysts
- UNF US : Elis Is Said to Make Rebuffed Bid for UniFirst Amid Vestis Talks
- VSTS US ; Elis Is Said to Make Rebuffed Bid for UniFirst Amid Vestis Talks