A selloff in stocks continued in Asia on Tuesday and the dollar strengthened amid a mood of caution over debt woes in China’s property sector and elevated inflation fueled by commodity prices.
MSCI Inc.’s Asia-Pacific share index slumped as much as 1.7% before paring some losses. The energy sector was among the few to rise on a rally in crude oil. Japan and South Korea underperformed, while Hong Kong edged up. U.S. futures were in the green, reversing earlier losses, after technology shares led a Wall Street slump overnight.
Oil held near the highest since 2014 following OPEC+’s decision to maintain a gradual supply hike even as a natural-gas crisis boosts crude demand. The Bloomberg Commodity Spot Index hit an all-time peak. Treasury yields rose.
China’s indebted property sector continues to vex traders. Fantasia Holdings Group Co. failed to repay a dollar bond due Monday, adding to the strains caused by China Evergrande Group’s cash crunch. The nation’s high-yield dollar bonds slumped. China’s stock market is closed for a holiday and will reopen Friday.
US After Hours Pretty quiet after hours, but CMTL -11.3% falls on earnings; LUV +0.3% is latest airline to require all employees to be vaccinated; LULU +0.6% ticks higher on bump to its stock buyback plan
Nikkei -2.49% Hang Seng +0.23% CSI +0.67% Shanghai +0.90% Shenzen +2.04%
Eur$ 1.1593 CNH 6.4518 CNY 6.4418 JPY 111.20 GBP 1.3591 CHF 0.9270 RUB 77.7262 RUB 8.66 WTI$ 77.75 +0.7% Gold 1756 -0.76% BTC 49282 +0.52% ETH 3385 +0.3%
S&P +0.08% Nasdaq +0.22% EuroStoxx +0.28% FTSE 9+0.36% Dax +0.30%
Macro :
- China Decides to Shelve Anti-Sanctions Law in H.K., HK01 Says
- Citadel’s Griffin Looks Beyond Chicago Amid Surging Crime
- SEC May Issue New Rules for Leveraged and Inverse ETFs: Gensler
- Citadel Flagship Fund Returned 7.8% in September: Insider
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