Australian Shares

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Macro Afternoon

A generally positive end to the week here in Asia with most stock markets putting on meaningful gains, buoyed by positive numbers out of China and Japan, plus a higher USD suppressing local currencies. The Shanghai Composite is ticking along, only up a few points going into the close and remaining above 2900 points at 2945.

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Macro Afternoon

Outside Australia, stocks have dropped across the region as the US/NK summit ends on a whimper, cut short with no agreement. Risk markets have bid up the USD and pushed stocks down as the latest Chinese manufacturing PMI comes in lower than expected for a third month in a row. The Shanghai Composite is off

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Macro Morning

By Chris Becker  Risk markets remained in a holding pattern again overnight as a slew of macro events and news weighed on any risk taking, sending USD higher. The US advanced goods trade deficit blew out while durable goods orders came in a little weaker than expected, but all eyes were on Washington for Michael

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Macro Afternoon

Stock markets are generally buoyant across Asia today with a few macro releases, including Australian construction data, disappointing to the downside, but having almost no effect on risk taking. The Shanghai Composite is up nearly 1% going into the close, taking back most of the previous losses to remain above 2900 points at 2964. The Hong Kong

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Macro Morning

By Chris Becker  Risk markets remained in a holding pattern overnight with US stocks largely unchanged as Treasury yields and USD moved lower, with Fed Chair Powell’s testimony to Senate restating the Reserve’s desire to keep rates on hold. The possibility of a Brexit delay sent Pound Sterling zooming, lifting Euro in sympathy. Looking first

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Macro Afternoon

The good mood from overnight on the basis that the US/China trade talks are progressing forward has turned here in Asia, with red across the board. Stocks have declined, with Chinese bourses in the lead as the Yuan fix strengthened considerably, while Pound Sterling rockets higher on the possibility of a delayed Brexit. The Shanghai

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Macro Morning

By Chris Becker  Market sentiment was buoyed yesterday by the inference by the somewhat positive news surrounding the US/China trade talks, with stocks on both sides of the Atlantic rising, albeit with some hesitation towards the end of the session. The USD lost ground against most of the majors while US Treasuries are still flat.

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Macro Afternoon

Asian share markets were given a boost this morning with some progress on the US/China trade talks, building on the positive mood on Wall Street on Friday night, with the Chinese Yuan firming to new six month highs against USD. The Shanghai Composite is up more than 4% going into the close, soaring above 2900

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Macro Morning (Trading Week)

By Chris Becker  Looking at Chinese stocks first, where last week saw the Shanghai Composite shoot higher after its recent breakout, getting slightly above the 2800 point level as confidence returned.   This was mainly due to more optimism over the US/China trade talks plus the possibility of more internal stimulus, as confidence continues to build

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Macro Afternoon

Asian share markets are following the overnight lead with some mild falls and scratch results across the region. The USD rallied against Yuan and Yen, whereas the oversold Aussie has had a little bounce back following the Chinese coal debacle. The Shanghai Composite is steady going into the close, basically up only a handful of

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Macro Morning

By Chris Becker  A muted night on risk markets with US stocks retreating and European bourses treading water as continued Brexit and US/Chinese trade talks have stalled – or at least no news is being positioned as bad news. The USD remained relatively strong overnight, with the only standout being continued falls in the Aussie dollar

56

Macro Afternoon

Asian stocks generally rose across the region with most activity in currency markets as the Chinese coal closure and the latest domestic unemployment print pushed the Australian dollar all over the place. The Shanghai Composite fell in the latter half of the session, falling 0.3% to close at 2751 points as its bear market rally pauses.

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Macro Morning

By Chris Becker  A better return to form for risk markets overnight with European stocks rallying while US markets edged out with some meagre returns as the latest FOMC Minutes were absorbed. Treasuries were largely unchanged as bond markets continue to realise that the Fed is done with interest rate rises for awhile, with “lower

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Macro Afternoon

Asian stocks basically moved together today with solid gains across the region, save Australia as local stocks were pushed down by a higher domestic currency, while gold almost hit $1350USD per ounce. The Shanghai Composite is tracking well, up 0.2% to close at 2761 points as its bear market rally continues. The Hong Kong Hang Seng

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Macro Morning

By Chris Becker  The return of Wall Street saw risk markets nudge a little higher while a surge in USD weakness due to the leaked concerns of the US trade delegation for a more stable Yuan saw major pairs move swiftly against King Dollar, which should provide a headwind to Asian stocks here today. Looking first

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Macro Afternoon

Asian stocks could not build on their boisterous start to the week with a flat session across the region due to the lack of lead from US markets which were closed overnight. The USD surged however with all pairs falling including Yuan which the PBOC again weakened. The Shanghai Composite is basically flat, down about

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UBS: Profits season holding up

Via UBS today: Reporting season has been better than feared. To date, the 1.2 ratio of beats-to-misses has been only modestly below average, while company guidance has been surprisingly resilient, with more outlook upgrades than downgrades. Despite companies remaining generally optimistic on the outlook, 61% of companies have seen downgrades to FY19 consensus EPS estimates

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Macro Morning

By Chris Becker  A holiday on Wall Street and the lack of any economic data or macro news kept risk markets at bay overnight with the USD also little changed. Looking first at the action on the Asian session yesterday, the Hong Kong Hang Seng Index closed 1.6% higher to 28281 points with the uptrend well

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Macro Afternoon

A boisterous start to the week here in Asia with almost all stock markets following the big night on Wall Street on Friday. This was despite growing macro concerns with Japanese machine orders falling, another possible round of tariffs from Trump and a slump in Chinese car sales. The USD continued its slide, albeit at

1

Macro Morning (Trading Week)

By Chris Becker  Looking at Chinese stocks first, where last week saw the Shanghai Composite returned after being close for most of the previous week due to Chinese New Year holiday. The result was a solid breakout above the high moving average and key resistance on the weekly chart at the 2600 point level, closing

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Macro Afternoon

Not a good finish to the week here in Asia with all stock markets reporting a loss as pessimism around any trade deal between the US and China builds, with Trump’s focus on domestic issues and creating an “emergency” as political theater. The USD has reversed again with gold prices lifting slightly. The Shanghai Composite

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Bull or bear market rally?

Via Damien Boey at Credit Suisse: Overnight, we received very disappointing US retail sales data. Headline nominal sales fell by 1.2% over the month, their sharpest monthly decline since the financial crisis. Notwithstanding ongoing strong job creation, consumption weakened on the back of low confidence and market turbulence.   We estimate that year-ended growth in

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Macro Afternoon

A mixed day here in Asia with most stock markets treading water as everyone awaits the outcome of the ongoing US/ China trade talks plus the possibility of another Trump shutdown later in the week. The Shanghai Composite finally put in a scratch session after riding a big wave all week, closing just a few

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Macro Morning

By Chris Becker  Risk markets are still floating along on a positive sentiment vibe while the USD reversed course overnight, surging against the majors and knocking gold back to its lowest level in two weeks. Treasury yields continue to climb, now above 2.71% as the latest CPI print came in a little hotter than expected.

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Macro Afternoon

Another solid day on stock markets across Asia following the moves higher on Wall Street overnight with Chinese stocks leading the way as expectations for the US/China trade deal become more positive. The Australian dollar launched on the sentiment survey while the Yuan remained firm against USD. The Shanghai Composite closed nearly 2% higher, making big