Asian shares rose to extend a tech-led rally on Wall Street, partly helped by a weaker yen that triggered a warning from Japan’s finance minister. A gauge of regional equities gained 0.4%, as chip-related stocks increased further after Nvidia Corp. chief Jensen Huang unveiled new products that rekindled optimism over AI demand. US futures edged lower in Asia after the S&P 500 gained 0.6% Monday and the Nasdaq 100 added 1.1%. Mainland Chinese and Hong Kong stocks were outliers. Tencent Holdings Ltd. fell as much as 7.3%, with Contemporary Amperex Technology Co. down over 6% after the Pentagon included them in a list that labeled several Chinese companies military entities.
The yen regained some ground after Japanese Finance Minister Katsunobu Kato said he will take appropriate action against what he considers one-sided, sudden foreign exchange moves. Japan’s currency dropped 0.3% to 158.11 per dollar after falling to 158.42, its weakest since July.
Traders are grappling with the prospect of rising trade tensions after Donald Trump denied a report that he might moderate plans for across-the-board tariffs when he retakes the White House. Washington’s latest move to blacklist the Chinese firms, which also include major oil company Cnooc Ltd. and top marine firm Cosco Shipping Holdings Co., is another reminder of the growing frictions that may further darken the outlook for the world’s No. 2 economy. During his speech, Huang announced updated GeForce graphics processors for gaming PCs, part of a keynote presentation that’s expected to include a wide swath of new products. An index of dollar strength has pared losses after Trump’s denial. The US currency fell as much as 1% Monday before narrowing the loss to 0.6%. It was flat in Asia Tuesday. Treasuries inched higher in Asia Tuesday after the yield on the 30-year note climbed to the highest in more than a year on Monday, while that on the benchmark 10-year paper rose three basis points to 4.63%. The Canadian dollar turned flat after advancing following Prime Minister Justin Trudeau’s resignation as head of the Liberal Party. Elsewhere, global credit markets, which are historically busy at the start of the year, have been particularly hot out of the gates with spreads near their lowest in 17 years. Borrowers from the Asia Pacific sold about $7 billion of dollar-denominated debt on Monday, the most since last June. The charge is set to continue Tuesday, with about a dozen APAC issuers having mandated banks for possible debt sales or marketing notes in the US currency. Also on investors’ minds is Friday’s US jobs report that is expected to show employers tempered hiring to wrap up a year of moderating yet still-healthy labor market. The data is unlikely to alter the view of Fed officials that they can slow the pace of rate cuts amid a durable economy and inflation that’s dissipating only gradually. Fed Governor Lisa Cook said Monday that policymakers can proceed more cautiously amid a sturdy labor market and lingering inflation pressures. Meanwhile, Bitcoin topped $100,000. Oil steadied after its first drop in six sessions, as technical markers showed the recent rally may have gone too far. US After Hours NARI +21.8% surging on confirmation of SYK takeover; SYK -1.5% ticking lower after agreeing to acquire NARI for ~$4.9 bln
Nikkei +1.97% Hang Seng -1.75% CSI +0.51% Shanghai +0.48% Shenzen +1.26%
Eur$ 1.0398 CNH 7.3416 CNY 7.3279 JPY 157.75 GBP 1.2539 CHF 0.9038 RUB 106.5004 TRY 35.3338 WTI$ 73.41 -0.20% Gold 2,641 0.16% BTC 101,800 +0.15% ETH 3,671 +0.08%
S&P -0.16% Nasdaq -0.25% EuroStoxx -0.58% FTSE -0.60% Dax -0.43% SMI -0.35%
Macro :
- Goldman’s Rubner Sees Short-Term Buying Window in US Stocks
- Jefferies Expects Europe Real Estate Sector to ‘Bounce Back Big’
- Morgan Stanley Lifts European Energy Sector View to In-Line
Keep an eye on :
Keep an eye on :
- AAPL US : Apple Weighs Adding New Countries to Its News App: FT
- FAGR BB : Fagron Buys CareFirst in North America and Injeplast in Brazil
- GSF NO : Grieg Seafood Prelim 4Q Harvest About 23,400 Metric Tons
- GSF NO : Grieg Seafood Prelim 4Q Harvest About 23,400 Metric Tons
- BAER SW : Julius Baer to Sell Brazil Unit to BTG Pactual for $101 Million
- HELN SW : Swiss Insurer Helvetia Said to Mull Sale of German Operations
- INPST NA : InPost 4Q Parcel Volume 322.1M Vs. 268.2M Y/y
- LSG NO : Leroy 4Q Harvest Beats Estimates
- NARI US : Inari Medical Shares Jump as Stryker to Buy at $80 Per Share (1)
- META US : Meta’s Zuckerberg Adds UFC’s Dana White, Two Others to Board
- NVDA US : Nvidia’s Keynote Speech Spells Tepid Tuesday for Nasdaq
- PSX US : Phillips 66 to Acquire Epic NGL for $2.2b in Cash
- PRX NA : Prosus Falls Most In a Year as Tencent Put on Pentagon List
- PRX NA : Prosus Falls Most In a Year as Tencent Put on Pentagon List
- SEPL LN : Nigeria’s Seplat moves in to fill gap as foreign oil companies retreat
- SLIGR NA : Sligro FY Sales Matches Estimates
- SW FP : Sodexo 1Q Revenue EU6.40B Vs. EU6.29B Y/y
- TSLA US : US Adds Tencent and Tesla’s China Battery Maker to Blacklist (3)
- X US : Nippon Steel Says Not Considering Alternatives to US Steel Deal
- XXL NO : XXL NOK 600m Underwritten Rights Issue Gets Holder Approval