Asian stocks slipped, led by China, and the yuan fell as investors assessed the latest move by the People’s Bank of China to loosen monetary policy. Chinese shares bore the brunt of selling as traders returned from a week-long holiday that encompassed the rout in Treasuries.
Equities from Sydney to Shanghai sank, while Japan was shut for a holiday, and Columbus Day in the U.S. means no Treasuries trade on Monday. U.S. stocks on Friday capped the worst week in a month, as a solid run of economic data emboldening investor faith for tighter monetary policy spurred a sell-off in Treasuries. The yuan weakened past 6.9 per dollar in the offshore market and was also weaker onshore following PBOC’s policy move.
Nikkei -0.80% Hang Seng -0.63%CSI -3.52% Shanghai -2.92% Shenzen -2.96%
Eur$ 1.1508 CNH 6.9051 CNY 6.9014 GBP 1.3110 JPY 113.79 TRY 6.1537 WTI$ 73.80 -0.52%
S&P +0.02% EuroStoxx +0.03% Dax +0.12% FTSE -0.05% SMI -0.12%
Macro :
- China RRR Cut Fails to Avert Shanghai Selloff: Macro Squawk Wrap
- Italy Says European Union Hasn’t Rejected Budget Plan
- Saudi Crown Prince Says He Loves Working With President Trump
- Italy Outlook Darkens as Politics Skews From Orthodox Thinking
Keep an eye on :
- ADP FP : French Govt Could Pick ADP Investors by Summer 2019: Les Echos
- ADP FP : Le Maire Says France to Have Final Say on ADP Principal Investor
- AED BB : Aedifica to Spend EU47m on Dutch Expansion at About 5.5% Yield
- AIR FP : Airbus Sept. Aircraft Orders, Deliveries up from August
- AF FP : Air France-KLM September Group Passenger Traffic Rises 2.7%
- AF FP : French Pilots’ Union Wants Court Assessment of Report on Crash
- AF FP : Air France SNPL Union Says Mgmt Offered 4% Pay Rise for 2018-19
- ATUS US : *GREENLIGHT ADDED ALTICE USA IN 3RD QUARTER: LETTER
- AR4 GY : Aurelius Buys Water Valve Maker VAG
- BKIA SM : Spain to Wait for Bankia Sale Until ‘Price Is Right’: HB
- BT/A LN : *GREENLIGHT'S EINHORN ADDS BT GROUP IN 3Q: LETTER
- DAI GY : Mercedes-Benz Starts Construction of U.S. Battery Factory
- DIC GY : DIC Asset Boosts Full Year FFO I Forecast
- EDF FP : De Rugy: Fessenheim Closure May Be Decoupled From Flamanville
- EIT IM : EI Towers: 97.4% of Shares Tendered in 2i Towers Public Offer
- FHZN SW : Flughafen Zurich Dividend Plan Not Yet Set for 2020: CEO in FuW
- GLOGB BB : Van der Schueren’s Congra Offers EU4.25/Shr for Global Graphics
- HMB SS : H&M Takes SEK185m Stake in Fintech Klarna: FT
- HMSO LN : Hammerson Sells 50% Stake in Highcross Mall for GBP236 Million
- ICAD FP : Icade Signed MOU to Invest in Italy Nursing Homes for EU112M
- IMMO BB : Immobel Sells EU100m 5-Year, 7-Year Notes in Retail Offering
- KER FP : Kering 3Q Likely to Confirm Attractive Organic Growth: Berenberg
- KID NO : Kid 3Q Revenue NOK368.1M Versus NOK343.8M a Year Earlier
- KBX GY : Knorr-Bremse Shortens Offer Period By a Day, Sees Listing Oct 12
- MSEIS NO : Magseis Gets LOI for Order of 17,000 Ocean Bottom Seismic Nodes
- NOVN SW : Novartis Says FDA, EMA Accepted NDA, MAA for Siponimod
- ORSTED DC : Orsted Buys Deepwater Wind for $510M to Expand in U.S. Market
- STAN LN : U.S. Preparing to Charge Ex-StanChart Bankers Over Iran: FT
- TATE LN : COYO Denies Pret A Manger Claims on Contaminated Material: FT
- FP P : Total, Sonatrach in Pacts for Algeria Nat Gas, Petrochemicals
- TPZ SM : Telepizza to Face Disciplinary Proceedings by Regulator CNMV
- TGS NO : TGS Sentenced to Pay NOK90M Fine; Says It Will Appeal Verdict
- UBSG SW : UBS Accused of Bond Movie Tactics in Paris Tax-Dodging Trial
- UNA NA : Unilever Move a ‘Setback’ as Dutch Weigh Tax Plan, Hoekstra Says
- RIN FP : Vilmorin rumoured to be possible KWS Saat target