Asian equities dropped in the wake of the biggest slide in stocks on Wall Street since mid-October. U.S. futures advanced after China pledged to quickly implement some steps on trade in the wake of the weekend summit in Buenos Aires. The dollar ticked up.
Stocks fell in Japan, Korea, Australia and Hong Kong, though declines were less than the 3.2 percent tumble in the S&P 500 Index. U.K. stock futures slumped. After days of silence on Saturday’s agreement between Presidents Donald Trump and Xi Jinping, China’s Commerce Ministry said trade negotiations will proceed based on a timetable and it will swiftly execute on items where there is consensus. For his part, Trump tweeted there will be a “real deal” with China, or none at all. China’s yuan gave up some of its recent surge.
Putting a damper on any trade optimism has been a sharp decline in 10-year Treasury yields, to 2.91 percent, which has further flattened the yield curveand served warning that bond traders are anticipating weaker growth. That’s even after Federal Reserve Bank of New York President John Williams on Tuesday reiterated his support for further interest-rate increases and gave an optimistic view of the economy.
US After Hours MRVL +4.7%, HQY +2% are higher, while GWRE -5.3% and OLLI -5.3% are lower following earnings/guidance
Nikkei -0.53% Hang Seng -1.75% CSI -0.48% Shanghai -0.55% Shenzen -0.45%
Eur$ 1.1331 CNH 6.8626 CNY 6.8656 JPY 113.02 GBP 1.2698 RUB 66.80 CHF 0.9995 TRY 5.4330 WTI$ 52.41 -1.58%
S&P -0.84% FTSE -0.91% Dax -0.98% SMI -0.73%
Macro :
- BofA Warns of ‘Baby Bear’ S&P 500 Drop Next Year, Cuts Stocks
- Goldman in Active Discussions With DOJ Over 1MDB Facts, COO Says
- Palladium Seen Breaking More Records, Boosting Automakers’ Costs
- China Is Said to Be Preparing to Buy U.S. LNG and Soybeans Again
Keep an eye on :
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- BMW GY : BMW May Build Powertrains in U.S. to Supplement SUV Factory
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- DBK GY : Deutsche Bank Is Said to Settle Frankfurt Cum-Ex Investigation
- DIA SM : LetterOne’s DuCharme Resigns From DIA Board to Focus on Plan (1)
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- EDF FP : Centrica’s Stake in EDF’s U.K. Nuclear Plants Said to Draw Bids
- EQNR NO : Equinor Awards Wired Drill-Pipe Contracts to NOV, Schlumberger
- EPR NO : Europris Aims to Open an Average of Five New Stores Net Per Year
- ERF FP : Eurofins Signs Outsourcing Agreement With Signify
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- INGA NA : ING Group Names Tanate Phutrakul CFO Replacing Koos Timmermans
- KGF LN : Mallya Says Bank Funds Went to Kingfisher Losses on Crude Oil
- LDO IM : Thales, Leonardo to Develop Defence Satellites for South Korea
- LUPE SS : Oil Bosses Battling War-Crime Allegations Fear Broader Fallout
- MRK GY : Merck KGaA Partners With Startup for Image Tagging Software
- NESN SW : Nestle Eyes Latin America Deals as Weak Currencies Boost Appeal
- OFN SW : Orell Fuessli Seeks Acquisition Targets, Chairman Tells T-A
- PTEC LN : Playtech Worth More Than GBP20, SpringOwl Tells DealReporter
- ROG SW : Roche’s Genentech Gets FDA Priority Review for Tecentriq
- SHP LN : Takeda Says at Least 88% of Votes Exercised Approved Shire Deal
- TNET BB : Telenet to Pay Out 50%-70% of Adjusted FCF as Regular Dividend
- TCG LN : Thomas Cook Is Said to Calm Investors Over Rights Issue Concerns
- UBSG SW : Some UBS Clients Affected by Glitch in ’UBS Safe’ App: CH Media
- VOW3 GY : VW Floats a Second U.S. Factory, Possible Ford Tie-Up to Trump
- VOW3 GY : VW Japan Discovers Errors in Test Data; to Brief Press in Tokyo
- XIOR BB : Xior Student Housing Holders Aloxe to Offer EU30m Shrs
- ZURN SW : Zurich on Track to Reach $1.5b Cost Savings Target by End-2019