CORRECTED-MNI: Fed's Hammack-Near Or At Time To Slow Rate Cuts

MNI BRIEF: Fed's Goolsbee Sees Rates Fair Bit Lower In A Year

CANADA JOBLESS RATE +6.8% VS FORECAST +6.6%, PRIOR +6.5%

MNI China Daily Summary: Friday, December 6

MNI: PBOC Net Drains CNY288.1 Bln via OMO Friday

MNI: PBOC Sets Yuan Parity Lower At 7.1848 Fri; -1.64% Y/Y

MNI: UNIV OF MICHIGAN CONSUMER SENTIMENT PRELIMINARY DEC INDEX 74.0

CANADA NOV IVEY PURCHASING MANAGERS INDEX 52.3 SA

EZ/UK Bond Supply Calendar: Austria, UK Auction on Tuesday

MNI EXCLUSIVE: EU-Mercosur Deal Close, But Likely Short-Lived - Officials

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

ASIA STOCKS: Asian Equities Mixed Ahead Of FOMC, Market Skewed To 50bps Cut

ASIA STOCKS
EM BulletAPACEmerging Market NewsBulletGlobalFixed Income BulletsForeign Exchange BulletsRegionMarkets

Asian markets are mixed today as traders await a crucial Federal Reserve interest rate decision. In Japan, shares rose on the back of a weaker yen which fell 1.30% on Tuesday, although we are reversing those moves as the session progresses, this has for the moment boosted the outlook for exporters. China & Taiwan have returned from breaks with both markets major benchmarks trading little changed, China property stocks are slightly higher as hopes of a 50bps cut from the fed give some hope to the struggling sector. South Korea remains out today and will return tomorrow.

  • Hong Kong markets are higher again today with tech stocks leading the way after chipmakers surged following news of progress in the China's development of domestic chipmaking equipment, a key area in the ongoing tech competition with the US, property has been supported by hopes of a 50bps rate cut with most indices up between 1-2%, while the wider HSI is 1.40% higher. China Mainland equities have given back most of the early morning gains with the CSI 300 now trading flat, while small-caps are trading 1-2% lower.
  • US mega-cap tech stocks gave back most of the early morning gains overnight to trade little changed into the close, which has led to steady prices for Asian tech stocks today with Tokyo Electron, TSMC little changed although Taiwan's Hon Hai is down 2.50%.
  • US equity futures are slightly higher today with the Nasdaq 100 eminis +0.15%, S&P 500 eminis +0.10%.
  • EM Asian equities are benefitting from a potential 50bps fed rate cut, with Indonesia's JCI making new all time highs.
  • Eyes are all on the Fed tonight, there has been a surge in activity in October fed funds futures with the bulk of new bets targeting an 50bps cut.

 

291 words

To read the full story

Close

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.

Asian markets are mixed today as traders await a crucial Federal Reserve interest rate decision. In Japan, shares rose on the back of a weaker yen which fell 1.30% on Tuesday, although we are reversing those moves as the session progresses, this has for the moment boosted the outlook for exporters. China & Taiwan have returned from breaks with both markets major benchmarks trading little changed, China property stocks are slightly higher as hopes of a 50bps cut from the fed give some hope to the struggling sector. South Korea remains out today and will return tomorrow.

  • Hong Kong markets are higher again today with tech stocks leading the way after chipmakers surged following news of progress in the China's development of domestic chipmaking equipment, a key area in the ongoing tech competition with the US, property has been supported by hopes of a 50bps rate cut with most indices up between 1-2%, while the wider HSI is 1.40% higher. China Mainland equities have given back most of the early morning gains with the CSI 300 now trading flat, while small-caps are trading 1-2% lower.
  • US mega-cap tech stocks gave back most of the early morning gains overnight to trade little changed into the close, which has led to steady prices for Asian tech stocks today with Tokyo Electron, TSMC little changed although Taiwan's Hon Hai is down 2.50%.
  • US equity futures are slightly higher today with the Nasdaq 100 eminis +0.15%, S&P 500 eminis +0.10%.
  • EM Asian equities are benefitting from a potential 50bps fed rate cut, with Indonesia's JCI making new all time highs.
  • Eyes are all on the Fed tonight, there has been a surge in activity in October fed funds futures with the bulk of new bets targeting an 50bps cut.