Stocks in Asia retreated as geopolitical tensions in the region weighed and investors turned their attention to upcoming testimony from the Federal Reserve chairman. Treasuries edged higher with the yen and the dollar was little changed.
Stocks fell across the region with bourses in Shanghai and Seoul bearing the brunt of the losses. Technology stocks underperformed amid the fallout from Japan’s export controls on certain Korean semiconductor materials, while concern a flood of new listings will overload the market weighed in China. U.S. and European futures slipped after Friday’s strong jobs report cast doubt on the future pace of rate cuts and the 10-year Treasury yield ticked back toward 2%.
Meanwhile, Turkish assets were in focus after President Recep Tayyip Erdogan’s shock decision to replace the country’s central bank governor fueled concern the regulator will lower borrowing costs more than expected. The lira slid.
Nikkei -1.10% Hang Seng -1.84% CSI -2.30% Shanghai -2.54% Shenzen -2.78%
Eur$ 1.1229 CNH 6.8943 CNY 6.8908 JPY 108.30 GBP 1.2532 RUB 63.8177 CHF 0.9901 TRY 5.7497 WTI$ 57.48 -0.05%
S&P -0.35% EuroStoxx -0.37% FTSE -0.20% Dax -0.50% SMI
Macro :
- Lira Sinks as Traders Fret Over Turkish Central Bank Credibility
- Turkey ETF Had Outflows for 5th Week Before Central Bank Ouster
- Tories Plotting to Thwart No-Deal Brexit Prepare New Attack
Keep an eye on :
- AB FP : AB Science Says Phase 2/3 Trial of Masitinib in ALS Positive
- ACPH BB : Acacia Pharma to Resubmit Barhemsys New Drug Application in 3Q
- ACS SM : ACS, Santander, Others Told to Pay Back EU368M for Castor: CNMC
- AIR FP : Boeing’s 737 Max Loses First Customer as Flyadeal Goes to Airbus
- AML LN : Aston Martin CEO Woos Investors With Supercars at Goodwood Gala
- ASC LN : Asos Considers 100 Job Cuts at London Headquarters: Times
- BALN SW : Baloise Real Estate Mgmt Launches ~CHF200m Capital Increase
- BAMNB NA : BAM Lowers FY Pretax Margin View; Expects to Report 1H Loss
- BT/A LN : BT Hires Credit Suisse to Seek Buyer for Spain Unit: Expansion
- BP/ LN : Lightsource BP Buys Greenfield Solar Projects in Brazil
- CINE LN : Cineworld Could Be The Next Private Equity Target, RBC Says
- CYBG LN : CYBG Considers Changes to Executive Bonuses: Telegraph
- DBK GY : RenTech Has Been Pulling Money Out of Deutsche Bank for Months
- EDP FP : Le Maire Has Asked for Independent Audit of EPR Nuclear Program
- ELIS FP : Elis Agrees to Sell Part of Clinical Solutions Business in U.K.
- EVT GY : Evotec, Venture Capital Group Form Breakpoint Therapeutics GmbH
- FPE GY : Fuchs Petrolub Sees 1H Ebit Decline Close to 20%, Cuts FY View
- HOCN SW : Hochdorf: Dairy Ingredients Unit Will Sell Plant in Germany
- BAER SW : Julius Baer Appoints Rickenbacher New CEO From Sept. 1 (1)
- MMB FP : Wasserman Media in Talks to Buy Lagardere Sports Unit: FT
- MTRO LN : Metro Bank Executives Push Chairman Hill for Exit Date: FT
- NOVOB DC : Novo Nordisk to Start Global Phase 3 Concizumab Program in ’19
- NOWI NO : Norway Food Authority Suspects ISA at Mowi Fish Farm in Nordland
- ORA FP : Prosecutor Wants Maximum Sentences in France Telecom Trial: AFP
- SPU NO : Spectrum Sees Second Quarter Net Revenue of About $52M
- SIFG NA : Sif to Manufacture 84 Monopiles for 800 MW Vineyard Project
- SIS IM : ASTM Says Consob Approved Offer Documents for SIAS Partial Bid
- SNH GY : Steinhoff Says Theodore de Klerk to Succeed Dieperink as CFO
- SW FP : Sodexo Sees Slower 4Q After 9-Mth Growth Beats Expectations
- TGS NO : TGS Second Quarter Net Revenue Beats Estimates
- WSU GY : Washtec Prelim First Half Revenue EU199.1 Mln
- WIHL SS : Wihlborgs First Half Income From Property Management SEK873 Mln