Stocks in Asia retreated as an unexpectedly strong US jobs report raised the prospect of more rate hikes from the Federal Reserve, while concern over US-China geopolitical tensions also weighed on sentiment. The dollar climbed for a third day after a gauge of its strength rose more than 1% Friday, when figures showed a surge in payrolls and unemployment at a 53-year low. This points to persistent US inflation and bolsters the case for more rate increases. South Korean stocks and contracts for US equities also declined. Shares fell in Hong Kong and mainland China, with the Hang Seng Index on course for the lowest close in a month. US-listed Chinese stocks slipped Friday after the Biden administration decided to postpone Secretary of State Antony Blinken’s upcoming trip to China in light of an alleged Chinese spy balloon, that was later shot down. Stocks in Asia retreated as an unexpectedly strong US jobs report raised the prospect of more rate hikes from the Federal Reserve, while concern over US-China geopolitical tensions also weighed on sentiment. The dollar climbed for a third day after a gauge of its strength rose more than 1% Friday, when figures showed a surge in payrolls and unemployment at a 53-year low. This points to persistent US inflation and bolsters the case for more rate increases. South Korean stocks and contracts for US equities also declined.
Shares fell in Hong Kong and mainland China, with the Hang Seng Index on course for the lowest close in a month. US-listed Chinese stocks slipped Friday after the Biden administration decided to postpone Secretary of State Antony Blinken’s upcoming trip to China in light of an alleged Chinese spy balloon, that was later shot down. In Japan, stocks climbed and the yen weakened after the Nikkei reported that the government had approached Bank of Japan Deputy Governor Masayoshi Amamiya about succeeding Haruhiko Kuroda as head of the central bank. While the Japanese government refuted the report, investors assume a greater likelihood of the current ultra-easy monetary policy enduring if one of its architects succeeds Kuroda. US stocks halted a three-day advance on Friday in a volatile session that saw equities swerve between modest gains and losses as investors contended with the labor data.
The S&P 500 still notched a weekly gain that took the index to its highest level since August. The Nasdaq 100 also scored a weekly advance, despite heavy selling after Apple Inc., Alphabet Inc. and Amazon. com Inc. reported disappointing results Thursday. The Turkish lira was little changed against the dollar in early trading. Turkey and neighboring Syria were hit by a powerful earthquake before dawn on Monday, killing more than 110 people. oil steadied as traders took stock of the outlook for demand in China and the latest sanctions on Russian energy flows came into effect. Gold rose. Adani Group assets are set for continued volatility this week. All of the group’s 10 stocks declined at the open in India, deepening their selloffs. Flagship Adani Enterprises Ltd. decided to shelve plans for its first-ever public sale of bonds, according to people familiar with the matter. While declines in shares were less savage on Friday than in previous days, the stock rout has roughly halved the market value of firms in the Indian group since Hindenburg Research’s claims for manipulation and accounting fraud.
Nikkei +0.68% Hang Seng -2.50% CSI -1.68% Shanghai -1.01% Shenzen -1.13%
Eur$ 1.0793 CNH 6.7930 CNY 6.7819 JPY 131.74 GBP 1.2059 CHF 0.9256 RUB 71.9427 TRY 18.8266 WTI$ 73.43 +0.05% Gold 1,876.60 +0.62% BTC 22,734 -0.75% ETH 1,616 -0.40%
S&P -0.45% Nasdaq -0.56% EuroStoxx -0.71% FTSE -0.34% Dax -0.71% SMI
Macro :
- Goldman Strategists Say Potential Upside for S&P 500 Is Limited
- EU Backs $100 Price Cap for Russian Diesel as Import Ban Looms
- German Energy Reprieve Too Little, Too Late to Save Factory Jobs
- France Demands Transparency to Defuse Subsidy Fight With the US
Keep an eye on :
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