Shares in Asia echoed US declines and a rally in the dollar stalled as the greenback weakened against most major currencies. Treasury yields also fell. Stocks across the region slipped while trading in Hong Kong was scrapped due to weather. Japanese equities fell for a second day after its economy expanded at a slower pace than initially estimated. The declines followed selling on Wall Street that weighed on tech stocks, partly driven by concerns about Apple Inc’s iPhone sales in China. The S&P 500 fell 0.3%, while the Nasdaq 100 dropped 0.7%. Apple shares slumped 2.9%. US equity futures were little changed Friday. Apple’s Asia-based suppliers also fell. In currencies, the dollar edged lower, but was still set for its longest run of weekly advances in years amid speculation the Federal Reserve will keep interest rates elevated. The offshore yuan weakened, approaching the lowest level on record. The official daily reference rate for the currency was lower, in a sign policymakers will allow gradual depreciation of the currency. Meanwhile, the Japanese yen briefly strengthened after Finance Minister Shunichi Suzuki said Japan will watch FX moves with a high sense of urgency and won’t rule out any options to address excessive moves. China plans to expand a ban on the use of iPhones in sensitive departments to government-backed agencies and state companies, a sign of growing challenges for Apple in its biggest foreign market and global production base. Beijing intends to extend that restriction far more broadly to a plethora of state-owned enterprises and other government-controlled organizations, people familiar with the matter said. Others foresee a muted impact on Apple. Government officials were probably already avoiding the company’s products, according to Evercore ISI’s Amit Daryanani. A broad crackdown on the company would also affect jobs in China, where most iPhones are assembled, he wrote. At the same time, US officials are investigating an advanced chip revealed to be in a new Huawei Technologies Co. phone, which has set off a debate about the efficacy of its sanctions. Oil declined for a second day on Friday after a nine-session rally propelled futures into overbought territory. For the week, the US crude West Texas Intermediate benchmark has risen by almost 1%, rallying at one point on Wednesday above $88 a barrel to the highest level since November. US After Hours SWBI +9.3%, SMAR +5.4%, DOCU +3.6% higher on earnings; RH -8.4%, ZUMZ -5.9% lower on earnings; HPP -8.2% suspends dividend.
Nikkei -1,20% Hang Seng -1,34% CSI -0,56% Shanghai -0,20% Shenzen -0,09%
Eur$ &,0719 CNH 7,3534 CNY 7,3439 JPY 147,21 GBP 1,2498 CHF 0,8908 RUB 98,3424 TRY 26,8491 WTI$ 86,28 Gold 1,925 BTC 26,289 ETH 1,648
S&P +0,11% Nasdaq +0,18% EuroStoxx +0,40% FTSE +0,09% Dax +0,32% SMI +0,08%
Macro :
- Italy Still Reviewing Options for New NPL Rules, Meloni Says
- Spain’s IBEX 35 Equities Index Unchanged After Quarterly Review
- Spain’s IBEX 35 Equities Index Unchanged After Quarterly Review
- Private Credit’s $10 Billion Win Is Bad News for Wall Street
- Ex-FTX Executive Salame to Plead Guilty to Criminal Charges
- EQT Boss Sees Natural Gas Markets Remaining ‘Extremely Volatile’
Keep an eye on :
Keep an eye on :
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