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Asia shares stumble on weak China data, U.S. dollar heavy

By Andrew Galbraith SHANGHAI (Reuters) -Asian shares were dragged lower by weakness in Chinese economic data on Thursday although investors seemed relieved that U.S. inflation...
Asia shares stumble on weak China data, U.S. dollar heavy © Reuters. FILE PHOTO: A man looks at stock market monitors in Taipei January 22, 2008. REUTERS/Nicky Loh/File Photo

By Andrew Galbraith

SHANGHAI (Reuters) -Asian shares were dragged lower by weakness in Chinese economic data on Thursday although investors seemed relieved that U.S. inflation data was not hot enough to force even faster monetary tightening by the Federal Reserve.

U.S. consumer price inflation was at its highest in nearly 40 years, data showed overnight, but it didn't come as a surprise and kept intact expectations for the Fed's tapering or timeline for the first rate rise as early as March.

Asian shares fell in line with Chinese stocks, after data showing mainland bank lending fell more than expected in December, causing property and consumption sectors to sink.

Chinese blue-chips dropped 1.3%, while MSCI's broadest index of Asia-Pacific shares outside Japan was flat after recording its biggest daily gain in a month on Wednesday. Japan's Nikkei lost nearly 1% after surging nearly 2% a day earlier.

European stock futures pointed to a tepid open in those markets, and the dollar was hovering near a two-month low at 94.97.

"The U.S. dollar is a counter cyclical currency which decreases as the world economy recovers," Joseph Capurso, head of international economics at the Commonwealth Bank of Australia (OTC:CMWAY), said in a note.

Markets in Asia, where inflation pressures have generally been more subdued in major economies, could offer attractive risk hedging opportunities, said Jim McCafferty, Nomura's joint head of APAC equity research.

"If you are a global investor and you've seen very significant stock market gains in the U.S. during 2021, if you are seeing inflation as a threat then a lot of investors may be tempted to reallocate funds away from developed equity markets in the West into the mix of developed and developing markets in East Asia," he said.

The uneven performance in Asia followed small gains on Wall Street overnight, with the S&P 500 rising 0.28% and the Nasdaq Composite up 0.23%. The Dow Jones Industrial Average rose 0.11%.

While longer-dated U.S. yields dipped after Wednesday's inflation data, Fed fund futures are pricing in nearly four rate hikes this year. Some analysts say that there could still be room for a more aggressive rate hike schedule.

"Our expectation for sustained cyclical price pressures means that we think the Fed will continue to tighten policy into 2023 by more than investors currently anticipate," Jonathan Petersen, markets economist at Capital Economics said in a note, adding that he expected the U.S. 10-year yield to reach 2.25% by year-end, and 2.75% by the end of 2023.

On Thursday, the U.S. 10-year yield edged up to 1.7499% after dipping on Wednesday to close at 1.725%. The policy-sensitive 2-year yield was up at 0.9229% from Wednesday's close of 0.907%.

The dollar was also almost flat against the euro at $1.1442, after hitting its lowest since mid-November in the previous session. Overnight, it also fell versus the yen, dropping through support around 115 to hit 114.38 yen, a more than two-week low. It last bought 114.62 yen.

Oil prices ticked lower, a day after hitting their highest in nearly two months on the back of a falling dollar, tighter supply, and as investors bet the spread of the Omicron coronavirus variant would have a relatively limited economic impact. [O/R]

Global benchmark Brent crude fell 0.07% to $84.61 per barrel and U.S. West Texas Intermediate crude edged down to $82.58 per barrel.

Spot gold held steady at $1,824.54 an ounce.

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24-01-2022 05:33:19 (UTC+7)

EUR/USD

1.1321

-0.0019 (-0.17%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (1)

Sell (6)

EUR/USD

1.1321

-0.0019 (-0.17%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (1)

Sell (6)

GBP/USD

1.3503

-0.0052 (-0.38%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (0)

Sell (10)

USD/JPY

113.63

-0.06 (-0.05%)

Summary

↑ Buy

Moving Avg:

Buy (9)

Sell (3)

Indicators:

Buy (9)

Sell (1)

AUD/USD

0.7138

-0.0045 (-0.63%)

Summary

↑ Sell

Moving Avg:

Buy (1)

Sell (11)

Indicators:

Buy (0)

Sell (8)

USD/CAD

1.2610

+0.0029 (+0.23%)

Summary

Neutral

Moving Avg:

Buy (7)

Sell (5)

Indicators:

Buy (2)

Sell (5)

EUR/JPY

128.63

-0.28 (-0.22%)

Summary

↑ Buy

Moving Avg:

Buy (8)

Sell (4)

Indicators:

Buy (8)

Sell (0)

EUR/CHF

1.0322

-0.0011 (-0.11%)

Summary

↑ Sell

Moving Avg:

Buy (1)

Sell (11)

Indicators:

Buy (6)

Sell (1)

Gold Futures

1,838.85

+7.05 (+0.38%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (0)

Sell (7)

Silver Futures

24.133

-0.187 (-0.77%)

Summary

↑ Sell

Moving Avg:

Buy (2)

Sell (10)

Indicators:

Buy (0)

Sell (10)

Copper Futures

4.4482

-0.0758 (-1.68%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (3)

Sell (5)

Crude Oil WTI Futures

84.84

-0.30 (-0.35%)

Summary

↑ Sell

Moving Avg:

Buy (4)

Sell (8)

Indicators:

Buy (0)

Sell (6)

Brent Oil Futures

86.84

-0.24 (-0.28%)

Summary

↑ Sell

Moving Avg:

Buy (3)

Sell (9)

Indicators:

Buy (0)

Sell (7)

Natural Gas Futures

3.729

-0.053 (-1.40%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (0)

Sell (10)

US Coffee C Futures

234.10

-3.80 (-1.60%)

Summary

↑ Sell

Moving Avg:

Buy (2)

Sell (10)

Indicators:

Buy (1)

Sell (9)

Euro Stoxx 50

4,148.65

-80.91 (-1.91%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (0)

Sell (10)

S&P 500

4,397.93

-84.80 (-1.89%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (0)

Sell (9)

DAX

15,345.14

-258.74 (-1.66%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (0)

Sell (8)

FTSE 100

7,412.25

-81.88 (-1.09%)

Summary

↑ Sell

Moving Avg:

Buy (3)

Sell (9)

Indicators:

Buy (0)

Sell (8)

Hang Seng

24,656.46

-309.09 (-1.24%)

Summary

↑ Buy

Moving Avg:

Buy (10)

Sell (2)

Indicators:

Buy (5)

Sell (1)

US Small Cap 2000

1,987.92

-36.12 (-1.78%)

Summary

Buy

Moving Avg:

Buy (9)

Sell (3)

Indicators:

Buy (5)

Sell (3)

IBEX 35

8,540.98

-153.72 (-1.77%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (0)

Sell (8)

BASF SE NA O.N.

65.300

-0.880 (-1.33%)

Summary

↑ Sell

Moving Avg:

Buy (3)

Sell (9)

Indicators:

Buy (0)

Sell (7)

Bayer AG NA

50.95

-0.67 (-1.30%)

Summary

Sell

Moving Avg:

Buy (4)

Sell (8)

Indicators:

Buy (1)

Sell (4)

Allianz SE VNA O.N.

219.93

-1.77 (-0.80%)

Summary

↑ Sell

Moving Avg:

Buy (1)

Sell (11)

Indicators:

Buy (1)

Sell (9)

Adidas AG

245.32

-5.28 (-2.11%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (1)

Sell (8)

Deutsche Lufthansa AG

6.705

-0.204 (-2.95%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (0)

Sell (10)

Siemens AG Class N

142.46

-2.06 (-1.43%)

Summary

↑ Sell

Moving Avg:

Buy (1)

Sell (11)

Indicators:

Buy (0)

Sell (8)

Deutsche Bank AG

11.140

-0.338 (-2.94%)

Summary

Neutral

Moving Avg:

Buy (6)

Sell (6)

Indicators:

Buy (5)

Sell (3)

 EUR/USD1.1321↑ Sell
 GBP/USD1.3503↑ Sell
 USD/JPY113.63↑ Buy
 AUD/USD0.7138↑ Sell
 USD/CAD1.2610Neutral
 EUR/JPY128.63↑ Buy
 EUR/CHF1.0322↑ Sell
 Gold1,838.85↑ Sell
 Silver24.133↑ Sell
 Copper4.4482↑ Sell
 Crude Oil WTI84.84↑ Sell
 Brent Oil86.84↑ Sell
 Natural Gas3.729↑ Sell
 US Coffee C234.10↑ Sell
 Euro Stoxx 504,148.65↑ Sell
 S&P 5004,397.93↑ Sell
 DAX15,345.14↑ Sell
 FTSE 1007,412.25↑ Sell
 Hang Seng24,656.46↑ Buy
 Small Cap 20001,987.92Buy
 IBEX 358,540.98↑ Sell
 BASF65.300↑ Sell
 Bayer50.95Sell
 Allianz219.93↑ Sell
 Adidas245.32↑ Sell
 Lufthansa6.705↑ Sell
 Siemens AG142.46↑ Sell
 Deutsche Bank AG11.140Neutral
Mua/Bán 1 chỉ SJC
# So hôm qua # Chênh TG
SJC Eximbank6,170/ 6,210
(50/ 50) # 1,155
SJC HCM6,150/ 6,210
(27/ 17) # 1,157
SJC Hanoi6,150/ 6,212
(27/ 17) # 1,159
SJC Danang6,150/ 6,212
(27/ 17) # 1,159
SJC Nhatrang6,150/ 6,212
(27/ 17) # 1,159
SJC Cantho6,150/ 6,212
(27/ 17) # 1,159
Cập nhật 24-01-2022 05:33:21
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ↀ Giá vàng thế giới
$1,840.94+6.310.34%
Live 24 hour Gold Chart
ʘ Giá bán lẻ xăng dầu
Sản phẩmVùng 1Vùng 2
RON 95-IV2486025350
RON 95-II,III
E5 RON 92-II2359024060
DO 0.05S1890019270
DO 0,001S-V1925019630
Dầu hỏa1779018140
ↂ Giá dầu thô thế giới
WTI$84.53+1.091.27%
Brent$86.85+1.041.19%
$ Tỷ giá Vietcombank
Ngoại tệMua vàoBán ra
USD22.500,0022.810,00
EUR25.000,4426.401,93
GBP29.901,5831.178,49
JPY193,25204,57
KRW16,4019,98
Cập nhật lúc 17:28:52 24/01/2022
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