A recovery of global shares continued in Asia, tracking gains on Wall Street after signs of resilience in the US labor market eased concerns over a recession. Stocks rose from Japan to South Korea and Australia. While Hong Kong equities maintained their gains, those in mainland China lost momentum as perceptions grew that a better-than-expected inflation print mainly resulted from seasonal factors like weather. Markets are closed in Singapore. US stock futures gained in Asia, following a rally on Wall Street Thursday. The S&P 500 had its best day since November 2022, while the Nasdaq advanced 3.1%. The dollar slid, with a gauge tracking emerging-market currencies rising to its highest level since April 2022. Treasury yields edged lower in Asia after a three-day increase. Risk appetite improved after a better US jobless claims report alleviated fears of a recession triggered by last week’s worse-than-expected employment data. The focus will now shift toward a fresh slew of US economic indicators due next week, including consumer prices. It remains to be seen how long the latest rebound can last as investors continue to digest different signals from policymakers. For one, Federal Reserve Bank of Kansas City President Jeffrey Schmid indicated he’s not ready to support a reduction in interest rates with inflation above the target, according to comments made on Thursday in the US. Swap traders further trimmed bets on aggressive Fed easing in 2024. The global repricing has been so sharp that at one point interest-rate swaps implied a 60% chance of an emergency rate cut by the Fed in the coming week — well before its next scheduled meeting in September. Current pricing suggests about 40 basis points of cuts for September. In Japan, shares in Tokyo Electron Ltd. jumped after the company lifted its profit forecast for the fiscal year to March and reported a better-than-expected surge in sales. The yen turned flat against the dollar after weakening for three days. Oil rose slightly following a Thursday rally, against the backdrop of simmering tensions in the Middle East. Gold slid. Meanwhile, steel and aluminum producers in Canada were urging Prime Minister Justin Trudeau’s government to swiftly impose new tariffs on Chinese products, saying metals from the Asian powerhouse are flooding the Canadian market and threatening local jobs. US After Hours SG +23.6%, PBI +22.8%, DOCS +22.7%, EXPE +9.9%, CARG +9.8%, TTD +6.2% higher on earnings; PUBM -22.7%, FIVN -13.1%, ELF -10.4%, PODD -4.9%, TRUP -2.8% lower on earnings
Nikkei +0.52% Hang Seng +1.48% CSI +0.01% Shanghai +0.15% Shenzen +0.01%
Eur$ 1.0919 CNH 7.1677 CNY 7.1668 JPY 146.93 GBP 1.2753 CHF 0.8661 RUB 86.7590 TRY 33.5523 WTI$ 76.22 Gold 2,420 -0.31% BTC 60,930 +2.34% ETH 2,672 +3.95%
S&P +0.01% Nasdaq +0.01% EuroStoxx +0.24% FTSE +0.28% Dax +0.09% SMI +0.46%
Macro :
- Harris, Trump Agree to ABC Debate on Sept. 10
- Italy May Ask Banks to Pay More Interests to Clients: Repubblica
- Mexico denies Ukraine's request to detain Putin during visit
- Indian Stocks Higher as Automakers Rally; Ola Jumps in Debut
- UAE bans some Russian shadow fleet tankers from entering its ports
Keep an eye on :
Keep an eye on :
- ME US : 23andMe 1Q Revenue Misses Estimates
- AAPL US : Apple Lets Developers Leave Ecosystem in Response to EU’s DMA
- BC8 GY : Bechtle 2Q Pretax Profit Meets Estimates
- BIIT FH : Bittium 2Q Operating Profit Misses Estimates
- CPRI US : Capri Holdings 1Q Adjusted EPS Misses Estimates
- CYTK US : Cytokinetics Boosts FY Operating Expense Forecast
- DIS US : Disney to Invest $5b in UK, Europe Over Next 5 Years: FT
- DOCN US : DigitalOcean 2Q Revenue Beats Estimates
- EUZ GY : Eckert & Ziegler 1H Net Income EU18M Vs. EU10.9M Y/y
- EDP FP : EDP Challenged to Manage Disposals, Hybrid Risk: Credit Outlook
- ETL FP : Eutelsat FY Ebitda Beats Estimates
- FBD ID : FBD 1H Gross Written Premiums EU226.1M Vs. EU206.4M Y/y
- FNAC FP : Fnac Darty Obtains Waiver from Banks to Implement Unieuro Takeover
- G IM : Generali 1H Operating Profit Misses Estimates, Generali Profit Falls as Europe Flooding Hurts Non-Life Income
- GMAB DC : Genmab Raises FY Revenue Forecast
- GMAB DC : Genmab Raises FY Revenue Forecast
- GOOGL US : Perplexity’s popularity surges as AI search start-up takes on Google
- IFX GY : Infineon, NXP Challenged by Signs of China EV Slowdown: React
- IFX GY : Infineon Considers Acquisitions, Sueddeutsche Zeitung Reports
- IOVA US : Iovance Biotherapeutics 2Q Revenue Beats Estimates --> +30% in After Hours
- JEN GY : Jenoptik 2Q Ebitda Beats Estimates
- JUN3 GY : Jungheinrich 2Q Ebit Beats Estimates
- LXS GY : Lanxess 2Q Adjusted Ebitda Margin Beats Estimates
- LEG GY : LEG Immobilien Boosts FY AFFO Forecast
- LGF/A US : Lions Gate 1Q Adjusted EPS Beats Estimates
- LOTB BB : Lotus Bakeries 1H Revenue Beats Estimates
- ML FP : Bridgestone Cuts FY Adj. Oper Profit View, Misses Est. --> -4%
- NUS US : Nu Skin Cuts FY Adjusted EPS Forecast, Misses Estimates
- PARA US : Paramount Global Reports Second Quarter Earnings Results
- PIHLIS FH : Pihlajalinna 2Q EPS Matches Estimates
- PIRC IM : Bridgestone Cuts FY Adj. Oper Profit View, Misses Est. --> -4%
- PRX NA : Prosus CEO Bloisi Purchases 127,335 Shares in Company
- REMEDY FH : Remedy Entertainment 2Q Net Loss EU2.22M
- REP SM : Repsol’s License in Guyana Expires: Vice President Jagdeo
- 2330 TT : TSMC Sales Grow 45% in July on Strong AI Chip Demand
- ENR GY : Electrification May Underpin Siemens Energy's GDP Outperformance
- UNIR IM : Fnac Darty Obtains Waiver from Banks to Implement Unieuro Takeover
- UNI IM : Unipol 1H Consolidated Net EU555M Vs. EU517M Y/y