Asian equities slowed their advance as a selloff in Chinese stocks intensified, eroding earlier optimism about Federal Reserve policy easing after weak US job openings data. MSCI’s regional stock gauge eked out a 0.1% gain, after climbing as much as 0.7%. Equity-index futures for the S&P 500 and the Nasdaq 100 both edged higher. Treasuries and the dollar were steady. Oil dipped, while gold retreated after seven days of gains. Japanese bond futures extended gains after a closely watched auction of 30-year government notes met demand that was broadly in line with its 12-month average. Meanwhile, selling in mainland Chinese stocks turned heavier, with the CSI 300 Index down 2.5% before the midday break. It came after the nation’s financial regulators are said to be considering a number of cooling measures for the stock market due to concerns about the speed of a $1.2 trillion rally since the start of August. More broadly, with US job openings falling to a 10-month low, traders are now almost fully pricing in a September Fed cut and projecting at least two reductions this year. Investors are focused on the pivotal US payrolls report Friday after Fed Chair Jerome Powell said in a speech last month that “downside risks to employment are rising.” The data is “another sign that the labor market is slowing down,” wrote Kyle Rodda, a senior market analyst at Capital.com in Melbourne. “The dynamic boosts the case for rate cuts.” Economists project about 75,000 jobs were added in August, based on the median of a Bloomberg survey, while the jobless rate is seen at 4.3%. Four straight months of sub-100,000-payrolls growth would mark the weakest such stretch since the onset of the pandemic in 2020. Also, Federal Reserve Governor Christopher Waller said on CNBC that the central bank should begin lowering rates in September and make multiple cuts in coming months, adding that officials could debate the precise pace of reductions. In Japan, investors breathed a sigh of relief after the 30-year government bond auction eased concerns over demand, following a global debt selloff. Traders had also worried that the sale may prove challenging amid domestic political uncertainties and doubts about debt sustainability. Meanwhile, borrowers from across the globe are rushing into the bond market, with more than $128 billion of sales so far this week, and investors are lapping up the new debt. ssuers from Asia including State Bank of India and Japan’s Mitsubishi Corp. have been taking advantage of insatiable appetite for credit globally this week to sell dollar notes at record-tight spreads. Firms from around the Asia Pacific sold more than $16 billion of notes in the US currency since Monday. China Construction Bank Corp. was offering dollar notes Thursday, while Philippine oil refiner Petron Corp. hired banks for a potential debt sale. Investors are being drawn to yields that are still elevated compared to long-term levels, while tight spreads signal continued confidence in companies’ credit strength. In commodities, oil dropped for a second day as traders fretted that OPEC+ may boost supplies and an industry estimate showed higher stockpiles at a key storage hub. Global benchmark Brent fell toward $67 a barrel, while West Texas Intermediate was below $64. Brent is set to drop to the low $50s a barrel next year on a global surplus, according to Goldman Sachs Group Inc. analysts. US Azfter Hours AEO +23.2%, ASAN +5.8%, CRDO +3.9% higher on earnings; FIG -13.8%, AI -10.4%, GTLB -6.9%, CRM -5.1% lower on earnings; NEON -61.8% on proceeds from patent lawsuit settlement.
Nikkei +1.52% Hang Seng -1.13% CSI -2.38% Shanghai -1.72% Shenzen -1.90%
Eur$ 1.1653 CNH 7.1418 CNY 7.1427 JPY 148.18 GBP 1.3428 CHF 0.8043 RUB 80.9802 TRY41.1653 WTI$ 63.48 -0.77% Gold 3,532 -0.77% BTC 110,680 -1.42% ETH 4,372 -2.13%
S&P +0.08% Nasdaq +0.08% EuroStoxx +0.06% FTSE +0.06% Dax +0.03% SMI
Macro :
- Jane Street’s India Revenue Shrank Amid Misconduct Allegations
- China Expands Anti-Dumping Duties to Optical Fiber From US
- Russia Court Orders Euroclear to Pay $105m in Sberbank Suit: RIA
- New York Giants Agree to Sell Minority Stake to Koch Family
Keep an eye on :
Keep an eye on :
- AIR FP : Airbus delivered 61 jets in August, sources say
- BABA US : 9988 HK : -3.45%
- AAL LN : Anglo American Offers About 52.2M Valterra Platinum Shares, Anglo American to Exit Platinum Spinoff Valterra with Stake Sale
- AAPL US : Apple Plans AI-Powered Web Search Tool for Siri to Rival OpenAI
- MT NA : ArcelorMittal, South Africa Takeover Talks Stall Over Valuation
- BING GY : Boehringer Ingelheim Timeline Accelerated for Phase 1 BI 3706674 Trial in Advanced Stomach and Oesophagus Cancer
- BMPS IM : Monte Paschi to Reopen Acceptance Period in Mediobanca Offer
- BRBY LN : FTSE 100 Adds Burberry, Removes Unite Group
- BYD : 1211 HK : BYD Cuts Its Annual Sales Target : -2.31%
- AI US : C3 AI Names Stephen Ehikian as CEO, Succeeds Siebel
- GOOS CN : Canada Goose Isn’t Working on Go-Private Deal, Executive Says
- DTG GY : Class 8 Truck North American Orders Fall 3% YoY in August
- DEME BB : DEME Group NV: Share Buyback Program Completed
- DEME BB : DEME Group NV: Share Buyback Program Completed
- DIE BB : D'Ieteren 1H Adjusted Pretax Profit EU452.4M Vs. EU585.5M Y/y
- ENGI FP : Engie Energia Chile Sells $122M of Local Series C Bonds
- EQT US : EQT, NextDecade in 20 Year Deal for LNG From Rio Grande Facility
- XOM US : ExxonMobil Explores Sale of European Chemical Plants: FT
- FORN SW : Forbo Names Johannes Huber as CEO From Jan. 1
- Golden Goose IPO : Luxury Sneaker Maker Golden Goose is Ready to Revive IPO When Markets Allow, CFO Says
- GOOGL US : France Fines Google $379 Million, Shein $175 Million on Cookies
- Horizon Robotic : 9660 HK : -6.30%
- HPE US : HP Enterprise Sees 4Q Adj EPS 56C to 60C, Est. 59C
- IFX GY : Infineon Shares Fall After Company Attends Investor Conferences
- JST GY : JOST Werke Holder Offers 1.5m Shares, Terms Show
- FII FP : Peugeot Invest Launches Sale of 2.7M Lisi Shares, Peugeot Invest Completes Lisi Stake Sale for ~€105M
- LLOY LN : Lloyds Plans to Overhaul Employees Performance Management: FT
- LMT US : Lockheed Martin Gets $9.8b US Army Patriot Missles Contract
- LTMC IM : Lottomatica to be added to FTSE MIB, Replacing Pirelli
- MNG LN : M&G Shares Briefly Spike After FT Report Apollo Examined a Deal
- MRK GY : Biocytogen, Merck KGaA Enter Agreement for Antibody-Based Drugs
- MB IM : Monte Paschi Exceeds Minimum 35% Threshold in Mediobanca
- MB IM : Monte Paschi to Reopen Acceptance Period in Mediobanca Offer
- NEX FP : Nexans Holder Invexans Offers 2.2m Shares: Terms, placed @ 121.50/share
- NIO US : 9866 HK : -6.15%
- NVDA US : Nvidia-Backed Cloud Provider Lambda Hires Banks For IPO
- PEUG FP : Peugeot Invest Launches Sale of 2.7M Lisi Shares
- PIRC IM : Lottomatica to be added to FTSE MIB, Replacing Pirelli
- P911 GY : Porsche AG to Exit Germany’s DAX After Less Than Three Years
- Prada : 1913 HK : -0.91%
- CRM US : CRM Sees 3Q Revenue $10.24B to $10.29B, Est. $10.29B: Snapshot
- SAN FP : Sanofi’s Amlitelimab Met Phase 3 Key Endpoints
- SAP GY : Watch European Software Stocks as Salesforce, GitLab Disappoint
- TMV GY : TeamViewer Holder TigerLuxOne Offers ~12.5m Shares: Terms
- 8TRA GY : Class 8 Truck North American Orders Fall 3% YoY in August
- VAL SJ : Anglo American Offers About 52.2M Valterra Platinum Shares
- VLK NA : Lannfelt, Gellerfors to Divest Parts of BioArctic Shareholdings
- VTU LN : Vertu Motors Sees Earnings in Line With Market Consensus
- VLTSA FP : Voltalia 1H Normalized Ebitda EU78.3M, Announces Spring Roadmap (1)
- WPS LN : WAG Payment 1H Adjusted Ebitda Misses Estimates
- WBD US : Warner Bros. Could Sell Studio Stake Before Spinoff
- XAI : xAI CFO Liberatore Steps Down, Latest in String of Executive Departures -- WSJ