Stocks rose in Asia on Wednesday, spurred by Chinese technology shares and a climb in Japan as yen weakness bolsters exporters. Hong Kong’s Hang Seng Tech Index advanced after new video game approvals encouraged the view that China’s crackdown on internet firms is loosening. That helped an Asia-Pacific share gauge to add a little under 1%. Still, the tech index and the broader Asian market came off session highs, suggesting some investors took the opportunity to bank profits. Equity futures were mixed, with those for the U.S. dipping and Europe’s pushing higher. Treasury yields edged up, taking the benchmark 10-year rate back toward 3%. The yen slid to another two-decade low versus the dollar on the policy contrast between a super-dovish Bank of Japan and hawkish Federal Reserve. Sentiment remains fragile on concerns that interest rates will need to go much higher to rein in inflation, stifling economic growth in the process. The Bloomberg Commodity Spot Index of raw materials is at a record peak, underlining global price pressures. The World Bank again cut its forecast for 2022 global expansion, warning of several years of above-average inflation and below-average growth. Billionaire hedge fund founder Ray Dalio said central banks across the globe will be required to cut interest rates in 2024 after a period of stagflation constrains their economies, according to a report. Cryptocurrencies were on the back foot, with Bitcoin shedding about 4% and falling back to around $30,000. US After Hours SMAR -5.6%, GWRE -1.3% lower on earnings; CURV +4.7% higher on earnings; NVAX +13.5% as FDA advisory committee recommends EUA for its COVID-19 vaccine
Nikkei +0,92% Hang Seng +1,70% CSI -0,41% Shanghai -0,70% Shenzen -1,21%
Eur$ 1,0686 CNH 6,6812 CNY 6,6767 JPY 133,17 GBP 1,2565 CHF 0,9751 RUB 61,6030 TRY 16,8567 WTI$ 120,13 +0,6% Gold 1,847,55 -0,30% BTC 30,200 63% ETH 1,788,25 - 3%
S&P -0,28% Nasdaq -0,39% EuroStoxx +0,55% FTSE +0,29% Dax +0,42% SMI +0,18%
Macro :
- Hedge Funds Fell 0.7% in May, Led by Event Driven Funds
- Citadel Securities, Virtu Form Crypto Plan With Fidelity, Schwab
- US Seeks $4.3 Billion for Nuclear Fuel to Wean Off Russia Supply
- Yellen Warns Inflation to Stay High, Recants Again on Transitory
- New Drug Prices Soar to $180,000 a Year on 20% Annual Inflation
Keep an eye on :
- A2A IM : A2A Closes Acquisition of Wind and Solar Portfolios From Ardian
- AB FP : AB Science Phase 3 Masitinib Asthma Study Met Primary Endpoint
- AF FP :
- ARYN SW : Aryzta Targets at Least EU2B Revenues by End 2025
- BBVA SM : BBVA to Invest MXN12B in Mexico in 2022, Chairman Torres Says
- BMPS IM : Monte Paschi to Seek About EU2.5B in Capital Increase: Ansa
- BCHN SW : Burckhardt FY Sales CHF650.7M Vs. CHF658.6M Y/y
- CBK SM : CaixaBank vs. Looming ECB Rate Hikes Looks a Win-Win: BI Focus
- CSGN SW : Credit Suisse Sees Likely Group, Investment Bank Loss in 2Q
- DBV FP : DBV Technologies: Viaskin Peanut Meets Primary Endpoint in Trial --> +45% in After Hours
- EBK GY : KfW Eyes Stake in EnBW’s TransnetBW Power Grid: Reuters
- ELUXB SS : Electrolux Names Anna Ohlsson-Leijon as Chief Commercial Officer
- ENX FP : Euronext Resolves Technical Issue on Cash Instrument Trades
- FUL LN : Fulham Shore Says Performance is in Line With Expectations
- HLDX SS : SAF-Holland to Buy Haldex for SEK66 in Cash Per Share
- HAS US : Hasbro Is Said to Fend Off Activist’s Push for Board Shake-Up
- IIA AV : Immofinanz Extends Slump; Erste Analyst Sees Headwinds Priced In
- IMMU SS : Immunicum Granted FDA Orphan Drug Status for Ilixadencel
- ITX SM : Inditex 1Q Ebit Misses Estimates
_ KBX GY : Knorr-Bremse Gets EU28m From Sale of Haldex Shrs to SAF-Holland
- NVAX US : Novavax Shares Rise After Panel Endorses Its Covid-19 Vaccine
- RI FP : Pernod Ricard Sees 4%-7% Annual Sales Growth in Mid-Term Plan
- RWAY IM : Italy’s Rai Picks Lazard as Adviser for RAI Way Unit: Sole
- SAN FP : Sanofi Says FDA Approves Dupixent For Children
- 8TRA GY : Truckmaker Scania Will Operate at Full Speed in ‘Few Weeks’: DI
- SU FP : Schneider Electric Agrees Sale of Eurotherm Unit to Watlow
- SEAW7 NO : Seaway Picked as Preferred Supplier for Wind Project in Scotland
- 2330 TT : TSMC Expects 30% Sales Rise Despite Global Economic Ructions
- TWTR US : Elon Musk’s Efforts to Get New Twitter Funding on Hold: Rtrs
- UCB BB : UCB Gets FDA Orphan Drug Status for Fenfluramine hydrochloride
- UCG IM : UniCredit Receives Four Binding Offers for Leasing Unit: MF
- VLA FP : Valneva to Present on Chikungunya Vaccine Candidate
- VWS DC : Vestas Secures Conditional Order for 900MW He Dreiht Project
- VOE AV : Voestalpine FY Dividend Beats Est., Sees Ebitda Falling
- VPK NA : Vopak Targets Operating Cash Return of at Least 10% by 2025
- VP/ LN : VP FY Revenue Misses Estimates
- WDC US : Western Digital Nears Settlement With Elliott Management: WSJ