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Market Closure


Nothing On Local Docket, Omicron Eyed




EDZ4/Z5 Steepener Flow

STOCKS: The Nikkei 225 & ASX 200 bounced on Wednesday, benefitting from the
positive lead that Wall St. provided (reasons for yesterday's bounce in risk
sentiment have been outlined elsewhere), while the Hang Seng struggled as
traders reacted to Coronavirus developments after the elongated weekend,
although the index has recovered from worst levels.
- Worth recapping Apple's quarterly earnings results, released after market
yesterday. Revenue, EPS and iPhone sales topped exp., with the firm's cash pile
also growing. Q2 revenue guidance also topped exp. Elsewhere, iPad and service
sales revealed marginal misses vs. exp. These results and the after market
uptick in Apple shares supported U.S. equity index futures in Asia. Also worth
flagging that Apple has restricted employee travel in China to critical only,
shutting one mainland store due to the coronavirus, while cutting back on
Chinese retail store hours.
- Nikkei 225 +0.6%, CSI 300 -2.4%, ASX 200 +0.6%.
- S&P 500 futures +11, DJIA futures +86, NASDAQ 100 futures +39.
MNI London Bureau | +44 0203-865-3809 |
MNI London Bureau | +44 0203-865-3809 |