Stocks in Asia retreated Friday amid growing concerns about a slowdown in China and policy makers’ steps to address it. The dollar held gains from overnight, when the Federal Reserve reinforced expectations for further interest-rate hikes. Treasury yields edged lower.
Equities in Hong Kong and China led losses in the region, with financial shares doing particularly poorly following news that Beijing plans to set quotas for banks to pump credit into private companies -- a heavy-handed move that some fear will boost non-performing loans. Softer Chinese producer-price gains, weak car sales and a disappointing outlook from a top online travel company rounded out the bad news. Energy shares in Asia also tumbled after crude oil entered a bear market. The negative sentiment looked set to spill over to European trading, where equity futures pointed to modest losses.
Macro :
- EM Stock Funds See Biggest Inflows Since February 2018: BofAML
Keep an eye on :
- AIR FP : Air France-KLM Oct. Group Passenger Traffic Rises 4.7%
- ALV GY : Allianz Third Quarter Operating Profit Beats Highest Estimate
- ALV GY : Allianz Is Looking for Small, Bolt-on Asset Management Deals
- AO/ LN : AO World Plans to Buy Mobile Phones Direct With Cash and Shares
- ATT SS : Attendo Third Quarter Net Sales Meet Estimates
- BIM FP : Biomerieux Buys Majority Stake in Hybiome
- BOKA NA : Boskalis Cuts Full Year Capital Expenditure Forecast
- CLNX SM : Cellnex Nine Month Adjusted Ebitda EU439 Mln
- CBK GY : CFTC Orders Commerzbank AG to Pay $12 Million Penalty
- EDP PL : Portugal’s EDP Sells EDP Small Hydro to Aquila Capital
- EOAN GY : EON Pleased Innogy, SSE Still See Value in U.K. Utility Merger
- FJET LN : Fastjet Able to Continue Operating in Nov. on Improving Trading
- GRI LN : Grainger to Buy Tottenham Build-to-Rent Homes for GBP41M
- INF LN : Informa 10-Month Trading in Line, on Track for Full Year
- CFR SW : Richemont Falls 3.4% in Pre-Market; Op. Profit Misses Ests
- CFR SW : Richemont Deceleration in September Was ‘Significant:’ Berenberg
- SFER IM : Salvatore Ferragamo Nine Month Revenue EU972 Bln , Ferragamo 3Q Shows ‘Occasional Shard of Light:’ Jefferies
- LEG GY : LEG Sees FFO I EU356m-EU364m in 2020, Confirms Full-Year Target
- NDA SS : Nordea Chairman Says Wealth Unit Isn’t Under Strategic Review
- NEX FP : Nexans CEO Says Revamp To Focus On North and South America, Nexans CEO Unveils EU210m Cost Cut Plan for 2018-2021
- RHK GY : Rhoen Klinikum Nine Month Revenue Meets Estimates (1)
- RR/ LN : Rolls-Royce To Replace Some Airbus A330 Turbine Blades: Av Daily
- RWE GY : RWE Supply & Trading, Tokyo Gas Reach Cooperation Pact in LNG
- GLE FP : SocGen Sells 2.05% Stake in Euroclear to SFPI
- SFOR LN : Sorrell’s S4 Confirms Talks About Possible Marketing Acquisition
- SPOL NO : Sparebank 1 Oestlandet Offering Prices 8.14m Shrs at NOK86/Shr
- TIT IM : Telecom Italia Is Said to Approve Non-Binding Offer for Nextel
- TLG GY : TLG Immobilien Sees Full Year FFO I About EU133 Mln
- TKA GY : Thyssenkrupp Continues Cleanup With Latest Write-Downs: Citi
- UNI IM : Unipol Nine Month Combined Ratio Reported 94.5%
- US IM : UnipolSai Nine Month Combined Ratio Reported 94.7%
- UEX LN : Urban Exposure Posts High Demand Since IPO in May
- VTC LN : Vitec Buys Video Modules Firm Amimon for $55m; Confirms Outlook