A gauge of Asia-Pacific shares advanced on Monday, while expectations of a Federal Reserve policy pivot triggered a rise in the yen. Benchmarks in Taiwan and Australia edged higher, as did European equity futures. Meanwhile, Hong Kong stocks fell the most in a week, after a string of poor Chinese data left traders wondering if authorities will initiate forceful stimulus to buttress the economy. In India, Bajaj Housing Finance Ltd saw its shares more than double after the nation’s biggest initial public offering of the year. Expectations of a narrowing interest rate differential between the US and Japan propelled the Japanese currency to its highest level since July 2023, while the dollar softened. Markets in Japan, South Korea and mainland China were closed for a holiday, and there was no trading of Treasuries in Asia. The start of a long-anticipated US easing cycle takes center stage this week, part of a 36-hour monetary roller coaster that includes policy decisions in Brazil, South Africa the UK and Japan. While traders are mulling whether the Fed will go for a 25 or 50 basis-point cut, the Bank of Japan is expected to keep rates on hold after roiling global financial markets by an increase at its last meeting. A revival of wagers a 50 basis point rate cut by the Fed, prompted Treasury yields to fall a second straight, week with two-year notes closing at a two-year low on Friday. About 110 basis points of rate cuts priced by year-end, according to data compiled by Bloomberg. Given the holidays, investors will likely be cautious ahead of regional trade data and Bank Indonesia’s policy decision just hours before the Fed. Global funds have been snapping up Southeast Asian assets as the prospect of interest-rate cuts and attractive valuations holds out the promise of supersized returns. That optimism stands in contrast to China, where factory output, consumption and investment all slowed more than forecast for August, while the jobless rate unexpectedly hit a six-month high. The People’s Bank of China signaled late Friday it would step up its fight against deflation and prepare more policies to revive the economy, after credit data showed private confidence remained weak. In commodities, gold rose to a record high as markets waited for the Fed easing. Elsewhere, oil steadied after its first weekly gain in a month as a drop in Libyan exports was offset by China’s economic woes.
Nikkei -0.68% Hang Seng +0.04% CSI -0.42% Shanghai -0.48% Shenzen -1.08%
Eur$ 1.1098 CNH 7.0993 CNY 7.0972 JPY 140.11 GBP 1.3156 CHF 0.8461 RUB 90.1361 TRY 33.9445 WTI$ 68.86 +0.31% Gold 2,588 +0.40% BTC 58,611 -2% ETH 2,291 -3.07%
S&P +0.02% Nasdaq -0.01% EuroStoxx +0.02% FTSE +0.05% Dax -0.02% SMI -0.05%
Macro :
- Bitcoin Slips at Start of Key Week for Markets Awaiting Fed Cut
- German Conservatives Riding High Ahead of Decision on Candidate
- Young Men Missing From UK Job Market Are a Problem for Starmer
- Fed Cut Likely; BOE, BOJ Meetings: Week Ahead Sept. 14-20
- S&P Boosts Saudi Arabia Outlook, Flags Possible Ratings Upgrade
- Germany Seals Migration Deal With Uzbekistan During Scholz Visit
- UK steelmakers face dumping risk over EU carbon tax timing, industry warns
- Traders Urge to Ease Regulation, Fret Over Market Data: BI Study
Keep an eye on :
- AGS BB : Bain Capital Taps Advisers for Sale of UK’s Esure: Reuters
- AA US : Alcoa to Get $1.1 Billion for Stakes in Saudi Aluminum Plants
- AAPL US : Apple Seeks to Drops Its Lawsuit Against Israeli Spyware Pioneer NSO
- ARYN SW : Aryzta to Redeem Outstanding CHF325.4M Hybrid Bond on Oct. 25
- SPR GY : Axel Springer, KKR Near Deal on €13.5 Billion Breakup, FT Says
- SPR GY : Mathias Döpfner, KKR Said to Near Deal on Axel Springer Split
- BARC LN : Barclays Calls for Tax Breaks to Boost London Equity Market: FT
- BX US : Temasek Said to Near Stake Purchase in Blackstone-Owned VFS
- CBK GY : Berlin’s bankers at JPMorgan invited UniCredit to bid for Commerzbank stake
- DISH US : DirecTV, Dish Said in Talks to Merge Satellite-TV Businesses
- DIS US : *DISNEY, DIRECTV REACH CONTRACT AGREEMENT, RESTORING ESPN, ABC
- FNAC FP : Italy Weighs Curbs on Fnac Darty’s Bid for Electronics Chain
- GMAB DC : Genmab Reports ‘Promising’ Results from Rina-S Cancer Trial
- GRF SM : Brookfield seeks €2 billion in capital for its takeover bid for Grifols
- HER IM : Italian Data Protection Authority Fines Hera Comm €5M: Ansa
- HOLX US : Hologic Authorizes Buyback of Up to $1.5b
- I Care Plus IPO (BB) : Belgium’s I-Care Plans Brussels IPO Next Year: L’Echo Reports
- INTC US : Intel Solidifies $3.5 Billion Deal to Make Chips for US Military
- INT IM : Banca Generali Launches €3.04/Share Bid on Broker Intermonte
- JNJ US : J&J Says New TAR-200 Data Reinforce Potential in Bladder Cancer
- LGEN LN : Sixth Street Said to Be Frontrunner to Buy L&G’s Cala, Sky Says
- LSXMK US : F1 rival calls for Brussels scrutiny of Liberty Media’s €4bn MotoGP takeover
- MAADEN AB : Maaden to Buy Alcoa Stakes in Saudi JVs for $1.1b in Stock, Cash
- PFE US : Pfizer Drug Helped Cancer Patients Regain Weight, Study Shows
- RECSI NO : REC Silicon: Polysilicon Shipment From Moses Facility Delayed
- RESURS SS : CVC, Waldakt Control 86% of Resurs, Extend Offer Period
- RXL FP : Rexel Rejects QXO Bid as ‘Significantly’ Undervalued (Sept. 15)
- ROG SW : Genentech Wins FDA OK for Ocrevus Zunovo in Multiple Sclerosis
- SAMPO FH : Sampo Boosts Buyback Program to €475M After Topdanmark Result
- SAN FP : Regeneron, Sanofi Get FDA Approval for Dupixent in Adolescents
- SPM IM : Saipem Awarded Offshore Qatar Contract Worth About $4 Billion
- SDNS NO : Shelf Drilling to Acquire SDNS for NOK25.90/Share in Cash, Stock
- SW FP : Sodexo, Peers’ Sales Potential Supports Double-Digit EPS View
- SWON SW : SoftwareOne Is Said to Weigh Deal for Crayon as Apax Closes In
- TIFS LN : ABC Technologies Offers to Buy TI Fluid Systems at 180p/Shr: Sky
- TIFS LN : ABC Technologies Says It’s Still Interested in TI Fluid Deal
- UBSG SW : UBS Faces Rising Discontent From Swiss Manufacturers, NZZ Says
- UCG IM : Berlin’s bankers at JPMorgan invited UniCredit to bid for Commerzbank stake
- UCG IM : UniCredit Will Be ‘Active’ Commerzbank Shareholder: CEO to HB
- X US : US May Make Nippon Steel-US Steel Decision After Election: WaPo
- VIRP FP : Virbac 1H Adj. Current Oper Income EU150.4M Vs. EU109.9M Y/y
