Asian stocks fell with US equity futures and government bonds rallied against the backdrop of weaker-than-expected economic data that supported forecasts for recession. Benchmarks declined in China, Japan, South Korea and Australia on Thursday. Contracts for US shares fell after the S&P 500 retreated 0.3% Wednesday as selling pressure clustered in vulnerable corners of the market. The Nasdaq 100 dropped 1%, eroding a stellar first quarter in which the tech-heavy index rose by fifth. Hong Kong and mainland China stocks were broadly lower following a one-day break in trading as the market was closed Wednesday for a holiday. The Golden Dragon index of US-listed Chinese shares fell 2.7% in New York. Haven assets retained their strength, with two-year and 10-year Treasuries little changed and yields near their lows for the year. Government bonds rose in Australia and New Zealand, with moves downward in yields of around seven basis points for Australia’s 10-year maturity. An index of the dollar and the yen extended advances from Wednesday. Gold was down slightly but remained near a 13-month high reached in the prior session. The flight to safety reflected signs of a slowing US economy ahead of crucial data to be released later Thursday and on Friday. India’s central bank is expected to increase interest rates by 25 basis points today, following a surprise 50 basis points hike by New Zealand’s central bank on Wednesday and a decision to pause from the Reserve Bank of Australia on Tuesday. US After Hours Relatively quiet after-hours session; FOXF +2% on reaffirmed guidance; LITE -10% down on lowered Q3 guidance; COST -2.1% slipping on March data; ABBV -0.8% edging lower on lowered FY23 EPS outlook.
Nikkei -1.31% Hang Seng -0.05% CSI -0.30% Shanghai -0.04% Shenzen -0.19%
Eur$ 1.0894 CNH 6.8833 CNY 6.8813 JPY 131.16 GBP 1.2447 CHF 0.9072 RUB 79.75 TRY 19.2647 WTI$ 80.13-0.57% Gold 2,014 -0.32% BTC 28,096 -0.20% ETH 1,894 -0.65%
S&P -0.28% Nasdaq -0.44% EuroStoxx +0.02% FTSE +0.13% Dax -0.06% SMI -0.11%
Macro :
- Elon Musk Sees a $4 Trillion Cost to Stick With Fossil Fuels
- China’s Services Activity Surges to More Than Two-Year High (1)
Keep an eye on :
Keep an eye on :
- ABVX FP : Abivax Names Marc de Garidel as CEO, Interim Board Chair
- AFLT RM : Aeroflot Warns of Flight Halts Risks Amid New Russian Data Law
- ANIM IM : Anima Holding March Net Outflows EU493M
- ARAMI FP : Aramis Co-Founders Buy a Combined 302,222 Shares
- ARAMI FP : Aramis Co-Founders Buy a Combined 302,222 Shares
- AI US : C3.ai CEO Calls Short-Seller Report ‘Stock Price Manipulation’
- CAV1V FH : Caverion Board Changes Recommendation to Favor Triton Offer
- GXI GY : Gerresheimer 1Q Adjusted Ebitda Meets Estimates
- IPN FP : Ipsen Drug for Rare Bone Disease May Yet Clinch Clearance: CEO
- PIRC IM : Pirelli Postpones Annual Meeting Amid China Pact Scrutiny
- RECT BB : Recticel Engineered Foams Divestment Didn’t Happen End-March
- SAS SS : SAS Begins Process to Raise Equity Financing
- TEMN SW : Temenos Is Said to Seek Fresh Interest From Private Equity Firms
- TTE FP : Total Boss Says Europe Risks Losing Green Fuel Projects to IRA
- TRI FP : Trigano in Talks to Buy Almost 100% of Alonso Group Companies
- UBSG SW : Switzerland to Cancel, Cut Top Credit Suisse Executives’ Bonuses
- UCG IM : UniCredit’s Orcel Warns of More Uncertainty for Banking Industry
- VOD LN : Vodafone Said to Field Approaches for $4 Billion Spain Unit
- VOD LN : Vodafone’s Acquisition of Nowo Under Probe by Portugal Regulator
- WPP LN : KKR Set to Buy 30% Stake in Communications Group FGS Global: FT