© 1982-2023 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

MNI: FED'S POWELL STILL SEES POSSIBLE PATH TO SOFT LANDING

MNI: POWELL: FED PREPARED TO TIGHTEN FURTHER IF APPROPRIATE

FED'S GOOLSBEE: 'YOU CAN'T BACK OUT NOW' ON INFLATION FIGHT

MNI: BAKER HUGHES US RIG COUNT 625; OIL RIGS 505; GAS RIGS 116

EZ/UK T-Bill Calendar: Germany, Netherlands, France Due Monday

EZ/UK Bond Supply Calendar: BOE Long APF Operation on Monday

MNI BRIEF: Lawmakers Signal Tough Hearing For BOC's Macklem

MNI BRIEF:Macklem-Fiscal Policy Turning Unhelpful On CPI Fight

MNI BRIEF: Stabilizing Prices Helps BOC Turn Neutral-Freeland

Asia Pac Markets All Higher, Nasdaq Futures Closing In On 2023 Highs

EQUITIES
EM BulletFixed Income NewsHomepageEquitiesBulletMarketsEmerging Markets NewsForeign Exchange NewsAT&T Market NewsBank of America Market News

Regional equities are a sea of green, post strong US gains in cash trading on Tuesday, as the US CPI miss buoyed risk appetite. Higher beta plays are outperforming in terms of Hong Kong and South Korea. US futures are tracking higher, Eminis last near 4521, +0.22%, not quite above Tuesday highs. Nasdaq futures are +0.28% (moving above Tuesday highs) and within striking distance of 2023 highs just above 16000.

  • US yields have tracked down modestly further, following sharp post CPI losses on Tuesday. Market speculation of an end to the US tightening cycle buoying the risk mood.
  • The HSI is up 2.83% at the break, with broad based gains. The HSTECH index up 3%, while the mainland properties index is up over 4.25%. Reports from BBG late yesterday of fresh support into China urban redevelopment and affordable housing aiding sentiment.
  • Still, the mainland CSI 300 real estate index is only 0.30% higher at the break, the aggregate index 0.67% firmer. Earlier we had a steady 1yr MLF rate but a net 600bn yuan injection (the biggest since Dec 2016). October activity data was mixed, retail sales beating on the upside, but property headwinds weighing on investment.
  • Headlines from BBG have also crossed the regulators will cap the OTC derivatives business for securities firms (see this link).
  • South Korean markets are up over 2%, the Taiex is +1%. Japan's Nikkei 225 is +2.35% in latest dealings, shrugging off the disappointing Q3 GDP data earlier.
  • In SEA, Thailand and Indonesia markets are up over 1.5%. Other markets are up less than 1% at this stage.
262 words

To read the full story

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.

Regional equities are a sea of green, post strong US gains in cash trading on Tuesday, as the US CPI miss buoyed risk appetite. Higher beta plays are outperforming in terms of Hong Kong and South Korea. US futures are tracking higher, Eminis last near 4521, +0.22%, not quite above Tuesday highs. Nasdaq futures are +0.28% (moving above Tuesday highs) and within striking distance of 2023 highs just above 16000.

  • US yields have tracked down modestly further, following sharp post CPI losses on Tuesday. Market speculation of an end to the US tightening cycle buoying the risk mood.
  • The HSI is up 2.83% at the break, with broad based gains. The HSTECH index up 3%, while the mainland properties index is up over 4.25%. Reports from BBG late yesterday of fresh support into China urban redevelopment and affordable housing aiding sentiment.
  • Still, the mainland CSI 300 real estate index is only 0.30% higher at the break, the aggregate index 0.67% firmer. Earlier we had a steady 1yr MLF rate but a net 600bn yuan injection (the biggest since Dec 2016). October activity data was mixed, retail sales beating on the upside, but property headwinds weighing on investment.
  • Headlines from BBG have also crossed the regulators will cap the OTC derivatives business for securities firms (see this link).
  • South Korean markets are up over 2%, the Taiex is +1%. Japan's Nikkei 225 is +2.35% in latest dealings, shrugging off the disappointing Q3 GDP data earlier.
  • In SEA, Thailand and Indonesia markets are up over 1.5%. Other markets are up less than 1% at this stage.