Asian stocks climbed for a fourth day on Tuesday, as optimism around US interest-rate cuts spread to the region and fueled a buying spree for technology shares.. MSCI’s Asia-Pacific equities gauge reached its highest level since February 2021, with tech firms like Taiwan Semiconductor Manufacturing Co. and Alibaba Group Holding Ltd. contributing most to the gains. Shares in South Korea, Taiwan and Hong Kong rose, while those in Indonesia declined after the longtime finance minister was removed. The moves followed a surge in bets on rate cuts by the Federal Reserve that pushed stocks near record highs on hopes that easier policy will bolster corporate America. There was also a risk-on mood in the markets thanks to continued optimism over the tech industry, as the Nasdaq Composite index reached another record high. In Japan, the implications of Prime Minister Shigeru Ishiba’s resignation have spilled into markets. The Nikkei 225 reached a new intraday record high on Tuesday before erasing gains. The country’s government bonds were firmer after having slumped Monday as Ishiba’s decision to step down underscored expectations for looser fiscal policy. China’s export growth slowed to the weakest in six months as a slump in shipments to the US deepened again, although a surge in sales to other markets kept Beijing on track for a record trade surplus. Elsewhere, Indonesian President Prabowo Subianto abruptly replaced Sri Mulyani Indrawati as finance minister, risking renewed financial turmoil for Southeast Asia’s biggest economy following violent protests in recent weeks against his administration. The rupiah slid against the dollar and Bank Indonesia said it would intervene to maintain the currency’s stability. Local stocks declined as much as 1.7% on Tuesday after having closed lower Monday ahead of the announcement, as rumors earlier in the day about her removal hit investor sentiment. Yield premiums on Indonesian dollar bonds and the cost to insure them against default widened. The S&P 500 rebounded Monday after a selloff the prior session due to the weak jobs report. Even as upcoming data is projected to show stalled progress on reducing inflation, traders expect almost three Fed cuts this year, starting this month. Treasuries 10-year yields were up 1bp to 4.05%. The dollar fell and gold climbed to another record high. Bloomberg’s GlobalAgg Index, which tracks sovereign and corporate debt across developed and emerging markets has surged more than 20% from its 2022 trough as cooling US labor data fuel bets the Fed will step up policy easing. Ahead of next week’s Fed meeting, Thursday’s core consumer price index is projected to show a 0.3% increase in August for a second month. Before that, figures from the Bureau of Labor Statistics on Tuesday will likely unveil another US jobs markdown that will set the stage for a rate cut. In France, Prime Minister Francois Bayrou lost a confidence motion in parliament, forcing a third change in government in just over a year. The country’s 10-year note futures opened steady. In commodities, oil rose for a second day as investors weighed the the prospect for softening demand after Saudi Arabia cut pricing for most of its grades. Iron ore climbed for a sixth day and headed for its highest close in more than six months on expectations that Chinese demand will gather momentum. US After Hours NBIS +51.4% on AI infrastructure deal with Microsoft; AVO +4.5% on earnings; CASY -1% on earnings.
Nikkei -0.31% Hang Seng +0.49% CSI -1.08% Shanghai -0.77% Shenzen -1.45%
Eur$ 1.1775 CNH 7.1194 CNY 7.1223 JPY 147.11 GBP 1.3574 CHF 0.7922 RUB 82.6653 TRY 41.2727 WTI$ 62.67 +0.71% Gold 3,655 +0.52% BTC 111,900 -0.02% ETH 4,312 +0.35%
S&P +0.06% Nasdaq +0.11% EuroStoxx -0.29% FTSE -0.21% Dax -0.34% SMI -0.07%
Macro :
- Londoners Flock to E-Bikes, Boats as Tube Strike Chaos Hits
- Europe’s Top Rated Firms Are Fans of Convertible Bonds Again
- Swiss Lawmakers Vote Against Delaying Rules on Capital
- Europe Sees Flood of Canadian Aluminum as US Tariffs Bite
- Jane Street Faces Off With India Market Regulator in Court
- US Electric Vehicle Uptake to Hit the Brakes on Trump Policies
- Solomon Says Rates Not Too Restrictive in Contrast With Trump
Keep an eye on :
Keep an eye on :
- ABVX FP : Abivax Presents First Half 2025 Financial Results
- BABA US : 9988 HK : +2.55%
- ALNY US : Alnylam to Offer $500M Conv Sr Notes
- AAL LN : Anglo American Is Said to Near Deal to Buy Teck Resources
- ASML NA : ASML Pumps €1.3 Billion Into Mistral in Boost for European AI
- T US : AT&T Reiterates FY Outlook Ahead of Goldman Sachs’ Conference
- BIDU US : China’s Baidu Releases New Version of Ernie AI Reasoning Model
- BILL US : *STARBOARD PLANS BOARDROOM CHALLENGE ON BILL HOLDINGS: REUTERS
- BYD : 1211 HK : BYD predicts car brand clearout in China as Beijing cracks down on discount - FT
- CAMX SS : Camurus Granted FDA Orphan Drug Status for Octreotide
- DEZ GY : Deutz to Offer 13.9m Shares in 10% Capital Increase
- DEC LN : Diversified Energy to Buy Canvas Energy for About $550m
- DELL US : Dell CFO McGill Stepping Down, Kennedy Named Interim (1)
- SATS US : FCC Ends EchoStar Probe in Light of AT&T, SpaceX Airwave Sales
- ENX FP : Euronext Aug. Total Cash Market Transaction Value Y/y +12%
- EXENS FP : Exosens Seeks Acquisitions, Citing Demand for Night Vision Gear
- FER SM : Ferrovial Holder Offers About 3.4m Shares, Terms Show, Ferrovial Offering by Holder Prices at EU46.85/Share
- GLAD US : Gladstone Is Said to Offer Fixed 5.875% Coupon on Convertible
- ITP FP : Interparfums 1H Operating Profit Beats Estimates
- JPM US : JPMorgan Should Face Criminal Probe Over Epstein Ties: Wyden
- LGEN LN : L&G Raises €600 Million Data Center Fund in Private Markets Push
- MBTN SW : SIX Orders Meyer Burger to Delist Shares
- MB IM : Monte Paschi Gets Mediobanca Control With 62.3% Shares Tendered
- MB IM : Mediobanca Chief Poised to Step Down as Early as Next Week: FT
- MB IM : Mediobanca Holders Representing 6% Stake Terminate Pact
- NBIS US : Nebius Surges On Up To $19.4b AI Cloud Deal With Microsoft
- NESN SW : Nestle to Buy Majority Stake in Meal Kit Company Mindful Chef
- NOVN SW : Novartis Agrees to Buy Tourmaline Bio for $48 Per Share in Cash
- OCTO US : Eightco Jumps Over 5,600% on Worldcoin Treasury, Dan Ives Role
- ORCL US : Oracle Discusses Skipping Cash Raises to Help Offset AI Data Center Spending
- PACS US : PACS Shares Tumble After Reporting Departure of CFO Derick Apt
- PL US : Planet Labs Said to Offer Up to 1.125% Coupon on $300M Convert
- Prada : 1913 HK : +2.18%
- REGN SW : Sandoz, Regeneron Reach Agreement in Aflibercept Patent Dispute
- RNO FP : Renault Updates Best-Selling Small Car to Keep Chinese at Bay
- RNO FP : Renault Updates Best-Selling Small Car to Keep Chinese at Bay
- SGO FP : Saint-Gobain Reorganizing Germany Construction Chemicals Units
- SDZ SW : Sandoz, Regeneron Reach Agreement in Aflibercept Patent Dispute
- SINCH SS : Sinch Names Daniel Morris as Chief Product Officer
- TECK/B CN : Anglo American Is Said to Near Deal to Buy Teck Resources
- TRML US : Novartis AG to Buy Tourmaline Bio for $48 per Share
- UBI FP : Musk Discussed AI Game Collaboration With Eve Online Makers
- UBSG SW : Swiss Lawmakers Vote Against Delaying Rules on Capital