Asian equities traded in a narrow range while the region’s currencies stayed relatively calm, as traders digested the effects of the political storms in France and South Korea. Bitcoin exceeded $100,000. The MSCI Asia Pacific index was little changed, with gains in Australia and Singapore offsetting losses in Hong Kong and India. Korean equities retreated, with the country’s ruling party looking to prevent President Yoon Suk Yeol’s impeachment by voting against a motion to initiate proceedings that may take place Saturday. Japanese stocks reversed early gains.
Bitcoin extended a rally from Wednesday to hit the $100,000 mark for the first time ever, after President-elect Donald Trump picked a crypto proponent to be the next head of the US securities regulator. A broadly bullish outlook worldwide, triggered by Federal Reserve Chair Jerome Powell’s latest comments on the US economy and a jump in US tech stocks, is outweighing uncertainties stemming from the political instability in South Korea and France. The S&P 500 index rallied to another record overnight, with traders now waiting for the non-farm payrolls data due Friday. Asian stocks “continue to trail behind US counterparts, as the mixed set of economic data from China this week and uncertainty over US trade policies remain a key overhang,” said Jun Rong Yeap, market strategist at IG Asia. Some calm has been restored across the region, with “market participants expecting the political dust in South Korea to settle for now.” South Korea’s won slipped, with policymakers urging calm in financial markets after the martial-law decree that stunned the nation. The euro faced further headwinds as France’s far-right leader Marine Le Pen and a left-wing coalition voted against Prime Minister Michel Barnier’s administration, muddying the outlook for investors. South Korea’s opposition leader Lee Jae-myung, who’s among the leading contenders to replace the sitting president should a brief martial law decree lead to his ouster, said Thursday he is in favor of bringing back short selling in stocks. Singapore’s stock benchmark was on pace for a record close on renewed optimism around its banks and after Robinhood Markets Inc. said it will expand into Asia next year by tapping the city-state as its base in the region. The Straits Times index is the best performing gauge in Southeast Asia this year, up 18%. In China, the official Xinhua News Agency released a series of articles ahead of a key economic meeting next week, warning against blindly chasing faster growth and signaled more focus on boosting consumption. The yield on 10-year US Treasuries climbed one basis point in Asian trading after sliding on Wednesday, while an index of the dollar fell 0.1%. US stock futures edged lower. In comments at the New York Times DealBook Summit in New York, Powell said the US economy is “in remarkably good shape” and that downside risks from the labor market had receded. He also said Fed officials could afford to be cautious as they lower rates toward a neutral level — one that neither stimulates nor holds back the economy. Powell’s comments on the US economy did little to alter expectations implied by market pricing that the Fed will cut rates again when it meets later this month. Meanwhile, two surveys showed that US executives turned significantly more optimistic about the economy and prospects for their own businesses after Trump won the election. In commodities, oil steadied after a decline, with traders looking ahead to an OPEC+ meeting on Thursday. Gold oscillated between gains and losses. US After Hours VRNT +19.4%, FIVE +12%, CHPT +10.2% higher on earnings; NCNO -13.4%, S -13.4%, AEO -12.3%, PVH -6.5%, AVAV -6.4%, GEF -6.3%, SNPS -6.3% lower on earnings.
Nikkei +0.30% Hang Seng -1.12% CSI -0.31% Shanghai +0.05% Shenzen +0.57%
Eur$ 1.0527 CNH 7.2770 CNY 7.2679 JPY 149.78 GBP 1.2717 CHF 0.8835 RUB 105.0000 TRY 34.7542 WTI$ 68.47 -0.10% Gold 2,64- -0.04% BTC 101,935 +4.15% ETH 3,855 +0.26%
S&P -0.05% Nasdaq -0.15% EuroStoxx -0.30% FTSE -0.18% Dax -0.10% SMI -0.20%
Macro :
- FTSE 100 Adds Alliance Witan, Games Workshop, St. James’s Place
- Trump Names Paul Atkins as SEC Chair
- Bitcoin Rising to $100,000 for First Time Vindicates Permabulls
- Norway Says Salmon Lice More Harmful for Wild Fish Than Desired
Keep an eye on :
Keep an eye on :
- ALV GY : Amundi Said to Be Interested in Buying Allianz Global Investors
- AMUN FP : Amundi Said to Be Interested in Buying Allianz Global Investors
- NDA GY : Aurubis Sees 2025 Op. ROCE +7% to +11%
- AVTX NA : Avantium Offers Up to 6.38m Shares, Avantium Raises €11m Through Accelerated Bookbuild Offering
- BZU IM : Buzzi to Replace ERG in FTSE MIB Index on Dec. 23
- BAMI IM : Orcel Says UniCredit Has Until March to Review Banco BPM Offer
- BYW6 GY : BayWa Targets €4b in Proceeds From Foreign Asset Sales: Reuters
- CLNX SM : Cellnex Aims to Sell 3 Data Centers in Spain: Confidencial
- CBK GY : Commerzbank CEO Says She Expects Germany to Stagnate Next Year
- ERG IM : Buzzi to Replace ERG in FTSE MIB Index on Dec. 23
- GLEN LN : Vitol, Glencore Are Said to Eye New Fortress’ Jamaica LNG Assets
- GREENM DC : GreenMobility Offers Up to 508,474 Shares at DKK29.50/Share
- IOS GY : IONOS Group Holder Warburg Pincus Offers About EU150m Shares
- MRUS US : Merus Gets FDA Accelerated Ok for Cancer Therapy Zenocutuzumab
- NEOEN FP : HMC Capital to Buy Neoen’s Victoria Portfolio for A$950M
- OBSRV NO : Observe Medical Offering of 2.3m Shares Subscribed
- OBSRV NO : Observe Medical Offering of 2.3m Shares Subscribed
- RIO LN : Rio Tinto Listing Debate Highlights London Stock Discount
- SAB SM : Sabadell Wins €358 Million in UK Cerberus Property Dispute
- GLE FP : Societe Generale taps BNP Paribas veteran Oliveira to co-head trading unit
- SNPS US : Synopsys 1Q Adjusted EPS Forecast Misses Estimates,-10% in after hours
- SYNSAM SS : Synsam Holder Theia Holdings Offers 15m Shares, Synsam Offering by Holder Theia Holdings Prices at SEK41/Share
- TFX US : Teleflex Is Said in Talks to Buy German Biotronik’s Stent Unit
- 8TRA GY : Class 8 Truck North American Orders Fall 8.8% YoY in November
- 8TRA GY : Class 8 Truck North American Orders Fall 8.8% YoY in November
- UCG IM : Orcel Says UniCredit Has Until March to Review Banco BPM Offer
- X US : Nippon Steel Still Confident It Can Close Widely Opposed US Deal
- ZAG AV : Zumtobel 1H Adjusted Ebit EU41.2M Vs. EU40M Y/y