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Analytics
23 November 2021
Markets digest news from Washington, dollar at fresh tops
On Monday, Wall Street indexes but failed to preserve early gains and finished mostly lower after Biden announced that he picked Federal Reserve Chair Jerome Powell to serve a second term. Asian equities were mostly lower on Tuesday. MSCI’s broadest index of Asia-Pacific shares outside Japan declined over 0.5% while markets in Japan were closed for a holiday. In China, the Shanghai Composite was up 0.2% while Hong Kong’s Hang Seng fell 1.20%.
19 November 2021
Equities mixed, dollar demand reemerges
Today in Asia, the sentiment was mostly bearish as disappointing earnings from Alibaba heightened worries about slowing growth in the country. The Chinese e-commerce giant saw its shares tumbling over 10% after its second-quarter results missed expectations and said it forecasts weak results in the current quarter. As such, MSCI's broadest index of Asia-Pacific shares outside Japan fell 0.44%. Meanwhile, the Japanese Nikkei 225 climbed 0.5% after Prime Minister Fumio Kishida unveiled a stimulus package worth approximately $490 billion.
17 November 2021
Dollar, sterling leading the gains
Asian stocks failed to follow yesterday’s gains on Wall Street and were mostly lower on Wednesday as the coronavirus-related concerns resurfaced. MSCI’s broadest index of Asia-Pacific shares outside Japan slipped nearly 0.5%, coming off a three-week high seen a day earlier. The Hang Seng index shed in Hong Kong fell 0.25% while Kospi shed over 1% on the news that South Korea today reported 3,187 new cases of the coronavirus, nearly matching a one-day record set in September.
15 November 2021
Markets steady after a volatile week
Asian stock markets fluctuated on Monday, with investor sentiment looking mixed at the start of the week. Japan’s Nikkei 225 gained 0.56% after the preliminary economic data showed that the Japanese GDP contracted 0.8% in the third quarter compared to the previous quarter. However, the economy grew by 1.4% compared to July-September 2020. Following the report, Bank of Japan Governor Kuroda noted that today's weak GDP was likely due to a consumption slump in September.
12 November 2021
Stocks, dollar edge higher, cryptos off all-time tops
Asian markets were mostly higher on Friday as the bearish tone from a surpassingly US inflation has abated, sending the MSCI’s broadest index of Asia-Pacific shares outside Japan 0.25% higher. In Japan, the Nikkei 225 gained over 1% on the news that the government was planning to raise wages for nursery and care workers in the pending economic stimulus package.
10 November 2021
Risk-off tone lifts the dollar ahead of inflation data
Investor sentiment turned sour on Wednesday following a decline in Wall Street indexes overnight. US stocks fell following a solid winning streak that pushed the benchmarks to fresh record highs earlier this week and month. Market participants are getting more cautious ahead of US inflation data. Yesterday, the report showed that the US PPI rose in line with expectations, fueling worries about the broadening inflation pressure. The producer price index remained at the highest level since November 2010 while the core reading remained at the highest reading ever.
08 November 2021
Market sentiment turns sour as US inflation looms
Asian stocks were mixed-to-lower on Monday as the data released over the weekend showed that China’s imports missed expectations in October, pointing to weakness in domestic demand. Meanwhile, export growth slowed in October but beat forecasts while the trade balance came in at $84.54 billion. As such, Shanghai Composite edged up 0.20%, Hong Kong’s Hang Seng shed 0.43%, and Japan’s Nikkei 225 lost 0.35%.
05 November 2021
Kaisa-related worries push stocks lower ahead of US jobs data
Asian stocks mostly dipped on Friday, with shares in Hong Kong leading losses in the regional markets amid the resurgent worries about the Chinese property sector after trading in Hong Kong-listed shares of Chinese property developer Kaisa Group and several of its units was suspended on Friday. Against this backdrop, Hang Seng shed 1.41%, China’s Shanghai Composite was down 1% and MSCI’s broadest index of Asia-Pacific shares outside Japan shed 0.23%.
04 November 2021
Fed pushes stocks to fresh highs, greenback shrugs off pressure
Asian equities advanced on Thursday after the Fed said it will be patient on raising interest rates while inflation risks still look transitory. As expected, the Federal Reserve said it will begin reducing its $120 billion in monthly bond purchases in the coming weeks by $15 billion a month. Also on the positive side, Moody's said today that headwinds to growth will dissipate in 2022, and stable global growth could be expected by 2023.
03 November 2021
Markets struggle for direction ahead of major events
US stocks finished higher overnight to hit fresh record highs ahead of the outcome of the Federal Reserve meeting and fresh economic data, including the employment report. Despite positive dynamics in Wall Street stocks, Asian markets were lower on Wednesday ahead of the FOMC meeting outcome. The Shanghai Composite in China was hovering just above the flat-line while Hong Kong’s Hang Seng index dipped 0.30% after trimming intraday losses.
01 November 2021
Macroeconomic Events for November
Dear clients,
Here is the list of the most important economic events for November.
Here is the list of the most important economic events for November.
29 October 2021
US stocks, Ethereum at all-time highs
After the closing bel on Wall Street, quarterly results from Amazon and Apple disappointed investors and triggered risk aversion in Asia. Apple reported record revenue of $83.4 billion, up 29% from a year earlier, but supply shortages were estimated at about $6 billion. The company’s shares fell more than 3% in after-hours trading. Meanwhile, Amazon badly missed on both earnings and revenue. Adding to a poor sentiment in Asian markets, China Evergrande faces the hard deadline for an offshore bond payment today, making investors nervous.