Continue the push and pull with the Fed. After the signals sent in favor of decline in rates, Christopher Waller froze the markets yesterday: the cuts, he said, can wait because the latest data coming from the economy "are extremely disappointing". The Fed governor's aggressive comments in view of the PCE price index data - the Fed's preferred inflation indicator - which will be released tomorrow (when Piazza Affari will be closed for holidays) have slowed down the Asian lists. The Japanese Nikkei 225 lost 1,6%, also affected by the detachment of dividends. Among the big names that have paid the coupon are SoftBank Bank and Tokyo Electron Ltd. The Yen has always fluctuated at its lowest level since 1990.
The Chinese index CSi 300 rose by 0,85%, from -1,30% yesterday, caused by the deterioration of trade ties with the United States. The index Hang Seng in Hong Kong grew by 1,6%, recovering a good part of the recent losses.
Chinese economy on the rise despite tensions with the USA
The Chinese president Xi Jinping met in Beijing with a group of about twenty US entrepreneurs, including the CEOs of Blackstone, Qualcomm, Bloomberg and FedEx. China's economy has not "peaked" and growth prospects remain "bright", Xi said. However, there is growing concern that Beijing is investing in the manufacturing sector to overcome the slowdown in the real estate sector.
Kospi South Korea -0,2%, while the rally in technology stocks cools.
The Australian stock market reaches new records. More cautious Europe
The Australian Asx 200, +1%, reaches record levels. The index is supported by mining and banking stocks. Sentiment towards Australian markets has been bolstered by growing signs of easing inflation in the country, which in turn presents a less hawkish outlook for the Reserve Bank of Australia.
Le European stock exchanges they move cautiously, just above parity. Saipem is still at the top of Piazza Affari, after Barclays raised its target price from 2,50 to 2,90 euros, strengthening its "Overweight" rating. The banks also did well. In the quarter the Milan stock exchange rose by 14%.
