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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.
ASIA STOCKS
- Asian tech stocks have fallen today with weak expected sales from Temu's owner PDD weighing on the market, although there has been a small bounce over the past 30 mins. While investors have also been looking to book profits ahead of Nvidia's earnings due out later this week, if we look South Korea's intraday equity flows, investors have been selling tech stocks although the speed of which has slowed over the past few hours, there has currently been about $80m of outflows in tech stocks today from the region.
- CSI 300 Tech Index is down 1.46%, HSTech Index is down 0.60% while BBG APAC DM Tech Index is down 0.55%, all just off session lows.
- If Nvidia's supplier TSMC earnings are anything to go by, we should see some positive positive numbers after TSMC's revenue beat estimates by 2.34%, EPS beat estimates by 5% while EBITDA beat estimates by 3.45%.
- Overnight PDD Holdings the owner of Temu fell almost 30% following weaker-than-expected sales, which also hurt the likes of Alibaba & JD.com
- The S&P minus the magnificent 7 hit continues to hit new records highs, while the Magnificent 7 are still trading 8.4% off all time highs.
S&P ex-Magnificent 7 vs Magnificent 7
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.
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