Chinese stocks led gains across Asia while US and European equity futures fluctuated as investors balanced China’s reopening with cautious commentary from the Federal Reserve’s latest meeting. Hong Kong’s Hang Seng Index climbed to the highest level since July in a rally led by Meituan and Alibaba Group Holding Ltd. that signaled fresh appetite for mainland tech stocks. Shares in South Korea, Japan and Australia fluctuated but were broadly higher. Contracts for the Euro Stoxx 50 fell, while those for the S&P 500 swung between gains and losses. The minutes of the Fed’s December meeting showed many officials highlighted the need to curb inflation without slowing the economy too much, heartening some investors. Meanwhile, traders are returning to Chinese equities amid a growing conviction the relaxation of virus curbs will fuel a revival in consumption and spending. The yen strengthened against all its Group-of-10 peers, rebounding after a 1.2% decline versus the dollar on Wednesday. Treasuries gave up some of the prior day’s gains, while sovereign debt in Australia and New Zealand rallied. Crude oil rose after falling 9.5% in the past two days, including the biggest daily decline since September on Wednesday. China’s complicated reopening is one factor that drove the drop. The price of gold whipsawed after touching the highest level since June on Wednesday. A private services index for China showed activities contracted at a slower pace in December. China will gradually reopen its border with Hong Kong, according to reports on Thursday, further buoying the outlook for the world’s second-largest economy. US data released Wednesday showed improving supply chain conditions, declining input prices and slower demand — all developments the Fed would welcome. Still, Amazon.com Inc. said it is laying off more than 18,000 workers — a significantly bigger number than previously planned — in the latest sign that a technology slump is deepening. The nonfarm payrolls report on Friday will provide a clearer picture of the labor market. US After Hours SLP -2% slips on earnings; TMUS +1.8% higher on Q4 operating data; GERN -11.3% falls on offerings
Nikkei +0,40% Hang Seng +1,37% CSI +2,05% Shanghai +1,07% Shenzen +1,66%
Eur$ 1,0608 CNH 6,8794 CNY 6,8752 JPY 132,49 GBP 1,2030 CHF 0,9301 RUB 71,9550 TRY 18,7477 WTI$ 73,87 Gold 1,853 BTC 16,821 ETH 1,251
S&P -0,19% Nasdaq -0,29% EuroStoxx -0,33% FTSE -0,06% Dax -0,25% SMI
Macro :
- Fed Affirms Inflation Resolve, Pushes Back Against Rate-Cut Bets
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