A stock-rotation trade fueled by the US midterm elections swept Asia, denting regional chipmakers and boosting unfavored markets from China to Australia. Sliding oil prices helped fuel gains in Southeast Asia. South Korea’s Samsung Electronics Co. and SK Hynix Inc. both tumbled more than 7% as investors priced in the risk of tighter regulation of data centers. That helped drag down the Kospi Index — a bellwether for the artificial intelligence trade — by 4.9%. Conversely, Chinese e-commerce giants Tencent Holdings Ltd. and Alibaba Group Holding Ltd. both jumped more than 5%, while Hong Kong’s Hang Seng Tech Index jumped 4.8%. Brent crude extended losses after tumbling more than 8% on Wednesday as investors bet that a Democratic sweep of Congress may accelerate efforts to end the war in the Middle East. Treasuries advanced for a second day on speculation that lower oil prices will curb inflation. The dollar weakened against all but one of its Group-of-10 peers. The divergence in global equities results from the sweeping victory of Democrats in the midterm elections, which has created concern over greater regulatory oversight of high-growth areas such as chipmakers. At the same time, speculation that the party will work to end the Iran war helped to bring down oil prices, benefiting more traditional industries. Consumer stocks led the rally in Asia with Toyota Motor Corp., Alibaba and Sony Group Corp. the biggest contributors. Australia’s benchmark index climbed 2.3%, India’s rose 1.8% and Indonesia’s gained 2%. In an example of the divergence, Japan’s benchmark Nikkei 225 Stock Average fell 1.6%, while the broader Topix rose 1.3%. Brent crude dropped 0.7% to $93.94 per barrel as Senate Minority Leader Chuck Schumer, a Democrat, pledged to end the conflict, now in its ninth month. Treasuries rose as the Democratic sweep of Congress fueled expectations that the Trump administration’s tax and spending plans may be contained. Yields on every tenor dropped by at least two basis points, with those on the benchmark 10-year notes falling as much as five basis points to 4.84%, the lowest since Sept. 10. The Bloomberg Dollar Spot Index fell 0.2%, set for a second day of declines, as investors started to turn their attention to US nonfarm payrolls data due on Friday. The dollar’s losses in Asia are a continuation of the “relatively strong reaction to the Democrat victory in the midterms yesterday and mainly linked to US yields retreating on hopes that inflation will pull back over time,” said Nick Twidale, chief market analyst at AT Global Markets. While the Democratic victory may complicate data-center development in some US states, many investors see little immediate threat to the AI investment theme that’s powered a rally in stocks tied to the sector. US After Hours SEZL +34.6%, ADMA +28.2%, LYNX +25.6%, APP +23.9%, RPD +18.0%, VERX +11.8%, SITM +10.3% higher on earnings; MNTN -39.8%, VCYT -28.0%, BROS -16.6%, RELY -16.6%, LZ -15.7%, FSLY -15.0%, ZG -14.3% lower on earnings.
Nikkei -1.79% Hang Seng +3.52% CSI +0.10% Kospi -5.28% Shanghai -0.12% Shenzen +1.42%
Eur$ 1.1261 CNH 6.6671 CNY .6.6701 JPY 157.88 GBP 1.3493 CHF 0.8141 RUB 81.8001 TRY 50.0457 WTI$ 87.32 -0.86% Gold 4,117 +1.18% BTC 80,322 +0.24% ETH 2,418 +0.09%
S&P -0.15% Nasdaq -1.07% EuroStoxx +0.24% FTSE +1.07% Dax +0.39% SMI +0.57%
Macro :
- Sequoia Capital Plans to Close London Office in European Retreat
- Goldman Says ‘Blue Tsunami’ to Have Big Implications on AI Rules
- Compute Futures Rollout Faces Delay as CFTC Weighs New Market
- Oil Sinks 10% as Traders Bet Blue Wave Will Usher End to War
- Blue Wave Crested for Markets Like It Was 2016
Keep an eye on :
Keep an eye on :
- MMM US : *3M GAINS 9.6%, THE MOST SINCE 2024, FOLLOWING PFAS DEAL
- ABBN SW : China Blocks SoftBank’s Takeover of ABB’s Robotics Unit: FT, ABB Confirms China Prohibited Sale of ABB Robotics to SoftBank
- ALB US : Albemarle 3Q Net Sales Beat Estimates, Albemarle Expects Lithium Demand to Defy Global Price Rout
- AMBUB DC : Ambu Sees 2027 Organic Revenue +9.5% to +11.5%
- ANTIN FP : Antin Assets Under Management EU33.5B
- AAPL US : Apple Cuts Internal AI Usage Budgets in Move to Reduce Spending
- MT NA : ArcelorMittal 3Q Ebitda Beats Estimates, *ARCELORMITTAL 3Q EBITDA $2.02B, EST. $1.89B
- AKE FP : Arkema 3Q Ebitda Margin Misses Estimates
- ARM US : ARM Falls on Royalty Revenue and Forecast: Street Wrap
- ATS AV : AT&S 1H Profit EU166.2M
- AMVO GY : Aumovio Maintains FY Sales, Adjusted Ebit Margin Guidance
- AZN LN : Rhythm Pharma Jumps on Report of AstraZeneca Takeover Offer
- AUTO NO : Autostore 3Q Revenue Beats Estimates, Autostore Boosts FY Revenue Forecast, Acquires Logiqs
- BAMNB NA : BAM Order Book at Period End EU13B
- BEKB BB : Bekaert to Buy Dextra for €140M Enterprise Value
- BGO FP : Belgrano 3Q Revenue EU99.4M Vs. EU93.4M Y/y
- BYND US : Beyond Meat Sees 4Q Net Revenue $54M to $59M, Est. $58.7M
- EN FP : Bouygues 9M Adj. Current Oper Income EU1.86B Vs. EU1.81B Y/y
- CARLB DC : Hyrox Drops Carlsberg Tie-Up for Malaysia Race After Backlash
- CAMX SS : Camurus 3Q Operating Profit Beats Estimates
- CATB SS : Catella Reports 9-MO Assets Under Management of SEK 162 Billion
- CAVA US : Cava Slumps After 3Q Restaurant Comp Sales Trails Estimates, Cava Raises Outlook as Salmon Bowls Help Bury Cyclospora Scare
- CBK GY : Commerzbank 3Q Net Income Beats Estimates
- COTY US : Coty 1Q Adjusted EPS Beats Estimates, Coty Sales Beat as Beauty Firm’s Turnaround Plan Takes Hold
- CVS US : CVS Break Up Doesn’t Go Far Enough, Sen. Warren Says
- CYTK US : Cytokinetics 3Q Total Revenue Beats Estimates
- DTE GY : Deutsche Telekom Boosts FY Adjusted Ebitda After Leases Forecast
- DHL GY : DHL AG 3Q Net Income Misses Estimates, DHL AG 3Q Post and Parcel Germany Ebit Misses Estimates
- DIS US : Disney Says Jonathan Garson to Become President of Pixar
- EDPR PL : EDP Renewables SA 9M Net Income EU439M
- EDPR PL : EDP CEO Miguel Stilwell de Andrade to Step Down in 2027
- EGTX SS : ANI Makes Offer to Buy Egetis Therapeutics for SEK11.25/Share
- ENGI FP : Engie Upbeat on Profit Outlook on Market Volatility, UK Networks
- EQT SS : EQT’s Zelestra Unveils $12 Billion Plan to Chase US AI Demand
- EVT GY : Evotec 9M Adjusted Ebitda Loss EU44.3M Vs. Loss EU16.9M Y/y
- EXPE US : Expedia Drops as 4Q Gross Bookings View Underwhelms
- RF FP : Eurazeo Assets Under Management EU40.40B Vs. EU37.40B Y/y
- FSLY US : Fastly Boosts FY Revenue Forecast, Beats Estimates, *FASTLY FALLS 16% AFTER 3Q RESULTS AND GUIDANCE
- FIE GY : Fielmann 3Q Pretax Profit Beats Estimates
- FBK IM : FinecoBank 3Q Net Income Beats Estimates
- FFARM NA : ForFarmers 3Q Adjusted Ebitda -5.4%
- GN DC : GN Store Nord 3Q Revenue Meets Estimates
- GOOGL US : Isomorphic Labs in Talks for About $5 Billion in Funding
- GTT FP : GTT Gets Samsung Heavy Order for Tank Design of Two LNG Carriers
- GT US : Goodyear 3Q Net Sales Beat Estimates
- HELE US : Helen of Troy Rejects Spectrum & Oaktree’s $37/Shr Cash Proposal
- HFG GY : HelloFresh 3Q Adjusted Ebitda Beats Estimates
- HAG GY : Hensoldt Sees FY Adjusted Ebitda Margin About 19%, Est. 18.8%
- HST US : Host Hotels Boosts FY Adj. Ebitdare Forecast, Beats Estimates
- HUBS US : HubSpot Boosts FY Adjusted EPS Forecast, Beats Estimates, HubSpot Sinks as Outlook Adds to Growth Concerns
- ICOP IM : Icop Says It Won’t Raise Offer for Trevi
- IMCD NA : IMCD 9M Operating Ebita EU425M Vs. EU394M Y/y
- INS GY : Instone Real Estate 9M Adjusted Ebit EU33M Vs. EU35.2M Y/y
- ITP FP : Interparfums Maintains FY EPS Forecast, Misses Estimates
- JNJ US : Syndax, Kura Oncology Slump After ‘Strong’ J&J Data Abstract
- DEC FP: JCDecaux 3Q Adjusted Revenue Beats Estimates
- DEC FP: JCDecaux 3Q Adjusted Revenue Beats Estimates
- JOBY US : Joby Aviation Rises After 3Q Revenue Beat, FY Revenue Boost
- KTN GY : Kontron 9M Ebitda EU125.9M Vs. EU193.6M Y/y
- LXS GY : Lanxess 3Q Sales Beat Estimates, Lanxess Sees FY Adjusted Ebitda High End of EU450M to EU500M
- LR FP : Legrand Boosts FY Organic Revenue Forecast, Legrand Joins Peers in Raising Outlook on AI Data Center Boom
- LDO IM : Leonardo Boosts FY Orders Forecast
- LUMO FH : Lumo Kodit 3Q Revenue Matches Estimates
- MAERSKB DC : Maersk Boosts FY Underlying Ebit Forecast, Misses Estimates
- MELI US : MercadoLibre Shares Slide as 3Q EPS Misses Estimates
- META US : Exclusive: Meta buys AI startup, joins race to own coding in show of outsized ambition
- MNTN US : *MNTN SHARES PLUNGE 40% ON WEAK 4Q VIEWS; NEW CEO NAMED
- MORLD NO : Moreld Reports 3Q Revenue of NOK 2.2 Billion, Compared With FactSet Consensus of NOK 2.21 Billion
- MUR US : Murphy Oil Boosts FY Capital Expenditure Forecast
- NEM GY : Nemetschek 3Q Ebitda Meets Estimates, Nemetschek 3Q Ebitda Meets Estimates
- NEXI IM : Nexi 3Q Operating Revenue Meets Estimates
- NTGR US : Netgear 4Q Net Revenue Forecast Misses Estimates
- NXT AU : NEXTDC Says Ackland Sought Up to 9.9% Stake at A$9.50/Shr --> +49%
- NWSA US : News Corp 1Q Adjusted EPS Beats Estimates
- NICE IT : Nice ADRs Fall After Fiscal Year Cloud Revenue Guidance Cut
- NDX1 GY : Nordex 3Q Ebitda Beats Estimates
- NRC NO : NRC Group 3Q Revenue Misses Estimates
- PANW US : Palo Alto in Talks to Buy Israeli AI Startup Clutch: Information
- TPEIR GA : Piraeus Bank Holder John Paulson Offers 35m Shares: Terms
- TPE GY : PVA TePla FY Outlook Above Consensus; 3Q Revenue of EUR 62.7 Million, Compared With FactSet Consensus of EUR 62.5 Million
- QIA GY : Qiagen 3Q Adjusted Operating Income Beats Estimates
- QCOM US : Qualcomm Sees 1Q Rev. $10.4B to $11.2B, Est. $10.55B: Snapshot, Qualcomm Falls as Earnings Outlook Disappoints
- RAA GY : Rational Boosts FY Ebit Margin Forecast
- R3NK GY : RENK Group 9M Revenue EU982.0M
- RHM GY : Rheinmetall ADRs Drop as Arminius Delay Hurts Guide: Street Wrap
- RYTM US : Rhythm Pharma Jumps on Report of AstraZeneca Takeover Offer, Rhythm Pharma Shares Surge on Report AstraZeneca Offered to Buy
- ROVI SM : Rovi 9M Net Income EU162.9M Vs. EU97.7M Y/y
- SFQ GY : SAF-Holland SE 3Q Adjusted Ebit Beats Estimates
- SESG FP : SES 3Q Revenue Beats Estimates (2)
- SHL GY : Siemens Healthineers Sees 2027 Adjusted EPS EU2.20 to EU2.40, Siemens Healthineers to Shed Diagnostics and Drop Parent’s Name
- SKAB SS : Skanska 3Q Operating Profit Misses Estimates
- SNAP US : Snap Shares Drop as 3Q Revenue Misses Estimates
- SPCX US : Goldman, Apollo in Talks to Sell SpaceX’s $40 Billion AI Deal
- STLA US : Stellantis Names New North America Boss to Take Over From CEO
- SUPR LN : Supermarket Income REIT Raises £60m at 82p/Shr
- SREN SW : Swiss Re 9M Net Income $4.17B Vs. $4.04B Y/y
- SCMN SW : Swisscom 3Q Net Revenue Beats Estimates
- SYENS BB : Syensqo Sees FY Oper Cash Flow at Least EU700M, Saw About EU700M, Syensqo Maintains FY Underlying Ebitda Forecast
- TEN IM : Tenaris 3Q Net Sales Beat Estimates
- TIT IM : Tim Brasil Says It’s Not Aware of Potential Sale
- TFIN IM : Icop Says It Won’t Raise Offer for Trevi
- UBSG SW : UBS Cuts About 200 London Jobs as Credit Suisse Fusion Nears End
- UBSG SW : UBS Draws More Talent From Goldman in Tokyo With Economist Hire
- FR FP : Valeo Looks to China as Role Model in Reshaping Auto-Parts Maker
- VIE FP : Veolia 9M Ebitda EU5.40B Vs. EU5.08B Y/y
- WEW GY : Westwing Group 3Q Adjusted Ebitda Margin 5.8%
- WWI NO : Wilhelmsen Reports 3Q Revenue of $327 Million, Compared With FactSet Consensus of $326 Million (1 Est.)
- YUBICO SS : Yubico 3Q Sales Beat Estimates
- ZGN US : Investindustrial Is Said to Offer Zegna Shares in Block Trade
- ZG US : Zillow Shares Plunge After 3Q Miss, Weak 4Q Forecast, Zillow Sinks After Missing Estimates in Tough Housing Market