Shares in Asia were mixed Friday after selling pressure weakened US stocks and bonds as robust signals from the labor market weighed on expectations for interest-rate cuts. Shares in Japan rose, helped along by yen weakness, with China’s CSI 300 Index in the green for the first time this week. Equities in South Korea and Hong Kong slipped and those in Australia fluctuated. Those moves followed a fourth day of loss for the S&P 500 on Thursday while Nasdaq 100 dropped for a fifth day — its worst showing since December 2022. The declines pushed a gauge of global equities down for a third day. Treasuries were little changed in Asian trading after the 10-year benchmark yield hit 4% Thursday as strong US private jobs data prompted investors to re-calibrate Federal Reserve rate-cut forecasts. The selloff can extend further, according to James Wilson, a senior portfolio manager at Jamieson Coote Bonds Pty, if Friday’s nonfarm payrolls data underscores concerns that markets overpriced expectations for Fed’s easing. The 10-year benchmark rate has added about 12 basis points since the start of the year. One large options trade, that expires Friday after the employment figures are released, targets a yield of as high as 4.15%. Swaps traders now see around a 65% chance the Fed will cut rates by the Fed’s March meeting, down from around 85% a week ago. Friday’s key US jobs data for December may offer more clarity on the path forward for interest rates. The report is expected to show US employers added 175,000 jobs last month, with the so-called whisper number calling for an increase of 185,000 positions. The yen slightly weakened after lodging its second decline of almost 1% against the greenback on Thursday, pushing the Japanese currency closer toward 145 per dollar. The move followed speculation the Bank of Japan will find it harder to dissolve negative interest rate policy following an earthquake earlier this week. One measure shows, Chinese stocks have reached a level that historically leads to spectacular returns. Oil edged higher, cementing a weekly gain, as simmering tensions in the Middle East and North Africa eclipsed signs of weakening US demand. Traders will also closely watch euro-zone inflation and producer prices data to be released later Friday, which will help shape expectations for European Central Bank policy. US After Hours COST +1.1% higher on December comps; MPW -15% falls as it provides update on Steward Health; FC -3.5%, KRUS -2.1% lower on earnings.
Nikkei +0.27% Hang Seng -0.92% CSI -0.76% Shanghai -1.05% Shenzen -1.55%
Eur$ 1.0935 CNH 7.1738 CNY 7.1652 JPY 144.69 GBP 1.2677 CHF 0.8507 RUB 91.3159 TRY 29.8444 WTI$ 72.74 +0.76% Gold 2,045 BTC 43,656 -1.90% ETH 2,248 -1.22%
S&P -0.09% Nasdaq -0.20% EuroStoxx -0.64% FTSE -0.61% Dax -0.64% SMI -0.37%
Macro :
- Citi Strategists See 2024 Global Stocks Gains Amid Easy Policy
- CITI STRATEGISTS UPGRADE GLOBAL FINANCIALS STOCKS TO OVERWEIGHT
- CITI STRATEGISTS UPGRADE GLOBAL FINANCIALS STOCKS TO OVERWEIGHT
- Bond Equilibrium Is a Myth That Won’t Last: Markets Live 2024
- Chinese Stock Indicator With 100% Success Rate Is Flashing Buy
Keep an eye on :
Keep an eye on :
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