Asian equities fell following a lackluster session on Wall Street that weighed on tech stocks and bonds, with investors keenly awaiting the release of key US inflation data later on Friday. MSCI Inc.’s gauge of Asian shares dropped as much as 0.7%, but was still on track for a second straight weekly gain. Japanese indexes led losses in the region after a strong rally in the previous session. US futures edged higher. That’s after the S&P 500 climbed 0.1% on Thursday amid a rise in Treasury yields. The yen strengthened against the dollar and Japanese bond futures edged lower after people familiar with the matter said Bank of Japan officials are ready to raise rates at their policy meeting later this month, provided there’s no major shock to the economy or financial markets in the meantime. India’s central bank cut its benchmark rate as expected. Federal Reserve officials will get a dated reading on their preferred inflation gauge, the personal consumption expenditures price index, on Friday. The September income and spending report — also delayed because of a government shutdown — is due to be released as well. The decline in equities underscored risk sentiment remains fragile even as global stocks have rebounded in the past two weeks to be within 1% of a record closing high reached in late October. Those gains partly reflected easing concerns over tech valuations as well as growing confidence among traders that the Fed will deliver a 25-basis point interest-rate cut next week at its last meeting of the year. Friday’s figures will include the PCE index and a core measure that excludes food and energy. Economists project a third-straight 0.2% increase in the core index. That would keep the year-over-year figure hovering a little below 3%, a sign that inflationary pressures are stable, yet sticky. A measure of the dollar edged lower in Asia on Friday and was on course for its fourth weekly decline in five. Elsewhere, Bitcoin traded below $93,000, silver and gold rose. India’s 10-year bond yields fell and stocks extended gains after the policy decision. Meanwhile, shares of Moore Threads Technology Co., a Chinese artificial intelligence chipmaker, surged more than 500% in its Shanghai trading debut after raising 8 billion yuan ($1.1 billion) in the year’s second-largest onshore initial public offering. US government bonds were sold off on Thursday as data showed signs of resilience in the jobs market. Applications for US unemployment benefits fell last week to the lowest in more than three years, indicating that employers are still largely holding onto workers despite a wave of recent layoffs. Separate data from Challenger, Gray & Christmas showed announced layoffs at US companies fell last month after surging in October, but were still the highest for any November in three years. Even so, bets on a Fed reduction remained intact. Policymakers will not yet have the government’s November jobs report in hand for their meeting next week. The report, originally due Dec. 5, was delayed until Dec. 16 as a result of the record-long government shutdown. That release will also include October payrolls figures. National Economic Council Director Kevin Hassett said the Fed should cut rates at its meeting next week and predicted a reduction of 25 basis points as speculation grows that President Donald Trump is readying his nomination to lead the central bank. US After Hours RBRK +15%, COO +12%, ULTA +6.4% higher on earnings; AGX -10.9%, HPE -9%, S -9% lower on earnings.
Nikkei -1.05% Hang Seng +0.50% CSI +0.80% Shanghai +0.67% Shenzen +1.15%
Eur$ 1.1656 CNH 7.0679 CNY 7.0705 JPY 154.72 GBP 1.3341 CHF 0.8030 RUB 76.0055 TRY 42.5259 WTI$ 59.52 -0.27% Gold 4,2120 +0.30% BTC 92,000 -0.27% ETH 3,159 +1.02% SOL 138.17 -0.50%
S&P +0.22% Nasdaq +0.38% EuroStoxx +0.16% FTSE +0.01% Dax +0.13% SMI -0.16%
Macro :
- Bill Gates’ Daughter Lands $30 Million for Star-Backed AI Firm
- Data Center Startup Fluidstack in Talks for $7 Billion Valuation
- US Approves Possible $2.68b Foreign Military Sale to Canada
Keep an eye on :
Keep an eye on :
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