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Asian shares trim losses, while dollar firms on Powell's rate pain warning

Friday, May 13, 2022
Asian shares trim losses, while dollar firms on Powell's rate pain warning © Reuters. FILE PHOTO: A man holding an umbrella looks at an electronic stock quotation board outside a brokerage in Tokyo April 7, 2015. REUTERS/Issei Kato

By Andrew Galbraith

SHANGHAI (Reuters) - Asian shares found some footing after a volatile session for U.S. equities, but the dollar remained at 20-year highs and global stocks near 18-month lows on worries about persistently high inflation and tightening central banks.

Those worries ultimately overcame hopes on Wall Street that high inflation might be peaking, pushing the S&P 500 close to confirming a bear market on Thursday, at nearly 20% off its January all-time high.

In an interview later in the day, U.S. Federal Reserve Chair Jerome Powell said that the battle to control inflation would "include some pain". And he repeated his expectation of half-percentage-point interest rate rises at each of the Fed's next two policy meetings, while pledging that "we're prepared to do more".

But after fears of the impact of central bank tightening led to sharp losses a day earlier, Asian shares bounced early in the trading day.

MSCI's broadest index of Asia-Pacific shares outside Japan was up 1.15%, trimming its losses for the week to around 3.5%.

Australian shares were up 1.56%, while Japan's Nikkei stock index jumped 2.62%.

In China, the blue-chip CSI300 index was up 0.92% and Hong Kong's Hang Seng rose 1.8%.

"We had some pretty big moves yesterday, and when you see those big moves it's only natural to get some retracement, especially since it's Friday heading into the weekend. There's not really a new narrative that's come through, " said Matt Simpson, senior market analyst at City Index.

"I think there comes that point where you run out of sellers. I'm not really certain that this is going to be a buying rally at the moment, possibly a short-covering rally ahead of the weekend."

The moves higher in equities were mirrored in slipping U.S. Treasuries, with the benchmark U.S. 10-year yield edging up to 2.8931% from a close of 2.817% on Thursday.

The policy-sensitive 2-year yield was at 2.6023%, up from a close of 2.522%.

"Within the shape of the U.S. Treasury curve we are not seeing any particularly fresh recession/slowdown signal, just the same consistent marked slowing earmarked for H2 2023," Alan Ruskin, macro strategist at Deutsche Bank (ETR:DBKGn), said in a note.

The U.S. dollar nevertheless remained firm near 20-year highs, with the dollar index, which tracks it against a basket of currencies of other major trading partners, at 104.8.

The yen was at 129.02 per dollar, softening from a two-week peak of 127.5 hit overnight. The European single currency edged down a hair to $1.0376.

In commodities markets, oil prices were higher but still set for their first weekly loss in three weeks, hit by concerns over inflation and China's COVID lockdowns slowing global growth.

U.S. crude ticked up 1.34% to $107.55 a barrel, and global benchrmark Brent crude was up 1.51% at $109.07 per barrel.

Spot gold, which has been hit by the soaring dollar, was up 0.15% at $1,824.49 per ounce, not far from a three-month low.

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22-05-2022 11:22:42 (UTC+7)

EUR/USD

1.0562

-0.0024 (-0.23%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (7)

Sell (0)

EUR/USD

1.0562

-0.0024 (-0.23%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (7)

Sell (0)

GBP/USD

1.2489

+0.0029 (+0.23%)

Summary

Neutral

Moving Avg:

Buy (8)

Sell (4)

Indicators:

Buy (2)

Sell (5)

USD/JPY

127.86

+0.07 (+0.05%)

Summary

Neutral

Moving Avg:

Buy (8)

Sell (4)

Indicators:

Buy (3)

Sell (3)

AUD/USD

0.7039

-0.0008 (-0.11%)

Summary

Sell

Moving Avg:

Buy (3)

Sell (9)

Indicators:

Buy (1)

Sell (3)

USD/CAD

1.2839

+0.0014 (+0.11%)

Summary

↑ Buy

Moving Avg:

Buy (11)

Sell (1)

Indicators:

Buy (5)

Sell (1)

EUR/JPY

135.05

-0.24 (-0.18%)

Summary

Neutral

Moving Avg:

Buy (6)

Sell (6)

Indicators:

Buy (3)

Sell (2)

EUR/CHF

1.0296

-0.0005 (-0.05%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (7)

Sell (0)

Gold Futures

1,845.10

+3.90 (+0.21%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (7)

Sell (0)

Silver Futures

21.765

-0.143 (-0.65%)

Summary

↑ Sell

Moving Avg:

Buy (4)

Sell (8)

Indicators:

Buy (2)

Sell (6)

Copper Futures

4.3042

+0.0212 (+0.49%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (7)

Sell (2)

Crude Oil WTI Futures

110.35

+0.46 (+0.42%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (1)

Sell (6)

Brent Oil Futures

112.91

+0.87 (+0.78%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (0)

Sell (7)

Natural Gas Futures

8.058

-0.250 (-3.01%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (0)

Sell (7)

US Coffee C Futures

216.48

-2.22 (-1.02%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (6)

Sell (0)

Euro Stoxx 50

3,657.03

+16.48 (+0.45%)

Summary

↑ Buy

Moving Avg:

Buy (7)

Sell (5)

Indicators:

Buy (9)

Sell (1)

S&P 500

3,901.36

+0.57 (+0.01%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (8)

Sell (0)

DAX

13,981.91

+99.61 (+0.72%)

Summary

Buy

Moving Avg:

Buy (6)

Sell (6)

Indicators:

Buy (8)

Sell (0)

FTSE 100

7,389.98

+87.24 (+1.19%)

Summary

Neutral

Moving Avg:

Buy (3)

Sell (9)

Indicators:

Buy (7)

Sell (2)

Hang Seng

20,717.24

+596.56 (+2.96%)

Summary

↑ Sell

Moving Avg:

Buy (4)

Sell (8)

Indicators:

Buy (1)

Sell (7)

US Small Cap 2000

1,773.27

-2.96 (-0.17%)

Summary

↑ Buy

Moving Avg:

Buy (7)

Sell (5)

Indicators:

Buy (7)

Sell (1)

IBEX 35

8,484.50

+78.50 (+0.93%)

Summary

Neutral

Moving Avg:

Buy (3)

Sell (9)

Indicators:

Buy (5)

Sell (2)

BASF SE NA O.N.

48.850

-0.010 (-0.02%)

Summary

Buy

Moving Avg:

Buy (6)

Sell (6)

Indicators:

Buy (6)

Sell (1)

Bayer AG NA

63.74

+0.34 (+0.54%)

Summary

Buy

Moving Avg:

Buy (6)

Sell (6)

Indicators:

Buy (6)

Sell (2)

Allianz SE VNA O.N.

195.58

+0.78 (+0.40%)

Summary

Buy

Moving Avg:

Buy (6)

Sell (6)

Indicators:

Buy (8)

Sell (0)

Adidas AG

172.80

+0.92 (+0.54%)

Summary

Buy

Moving Avg:

Buy (6)

Sell (6)

Indicators:

Buy (7)

Sell (1)

Deutsche Lufthansa AG

6.852

+0.049 (+0.72%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (2)

Sell (5)

Siemens AG Class N

115.08

+2.62 (+2.33%)

Summary

Neutral

Moving Avg:

Buy (3)

Sell (9)

Indicators:

Buy (4)

Sell (4)

Deutsche Bank AG

9.362

-0.130 (-1.37%)

Summary

Buy

Moving Avg:

Buy (6)

Sell (6)

Indicators:

Buy (8)

Sell (1)

 EUR/USD1.0562↑ Buy
 GBP/USD1.2489Neutral
 USD/JPY127.86Neutral
 AUD/USD0.7039Sell
 USD/CAD1.2839↑ Buy
 EUR/JPY135.05Neutral
 EUR/CHF1.0296↑ Buy
 Gold1,845.10↑ Buy
 Silver21.765↑ Sell
 Copper4.3042↑ Buy
 Crude Oil WTI110.35↑ Sell
 Brent Oil112.91↑ Sell
 Natural Gas8.058↑ Sell
 US Coffee C216.48↑ Buy
 Euro Stoxx 503,657.03↑ Buy
 S&P 5003,901.36↑ Buy
 DAX13,981.91Buy
 FTSE 1007,389.98Neutral
 Hang Seng20,717.24↑ Sell
 Small Cap 20001,773.27↑ Buy
 IBEX 358,484.50Neutral
 BASF48.850Buy
 Bayer63.74Buy
 Allianz195.58Buy
 Adidas172.80Buy
 Lufthansa6.852↑ Sell
 Siemens AG115.08Neutral
 Deutsche Bank AG9.362Buy
Mua/Bán 1 chỉ SJC
# So hôm qua # Chênh TG
SJC Eximbank6,875/ 6,975
(6,875/ 6,975) # 1,795
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Cập nhật 22-05-2022 11:22:44
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RON 95-V30.58031.190
RON 95-III29.98030.570
E5 RON 92-II28.95029.520
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Ngoại tệMua vàoBán ra
USD23.000,0023.310,00
EUR23.879,5425.217,23
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KRW15,8019,26
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