12/01/2021 Asian equities traded mixed Tuesday after U.S. stocks fell for the first time in five sessions with prices near all-time highs. The dollarextended its climb as Treasury yields reached the highest level since March. Locally he AllShare gained 0.38% led by NPN and PRX up 4.31% and 3.92% respectively. SA Inc names were under pressure with Banks down 2.13%, Retailers down 1.59% and Proerty down 0.70%.
President Cyril Ramaphosa extended a prohibition on alcohol sales, restricted cross-border travel and announced plans to buy millions of additional vaccines as hospitals struggle to cope with soaring coronavirus infections.
• Covid-19: SA records 15 046 new infections and 416 new deaths.
• South Africa has secured 20 million virus vaccines, says Ramaphosa.
• Murray & Roberts eyes return to profit after winning A$400m gas contract.
• JSE probing 400% rise in share price of Iqbal Survé-linked AYO.
• AB InBev’s legal battle over alcohol ban could be a presage of more to come
ECONOMIC DATA :
1pm: Nov. manufacturing production m/m, est. 1.5%, prior 2.6%; y/y, est. -2.2%, prior -3.4%
The pan-European Stoxx 600 finished 0.7% lower, with autos shedding 1.7% to lead losses while health care stocks added 0.6%. CAC – 0.8%, DAX – 0.80%, FTSE – 1.09%
Overnight, equities dipped as investors evaluated lofty stock valuations amid recent record highs, seemingly disregarding the backdrop of Covid-19 and political turmoil. The Dow lost nearly 90 points, dragged down by a 2.3% drop in Apple. The S&P 500 dipped 0.66% and the Nasdaq was the relative underperformer, dipping 1.25% as Facebook, Amazon, Netflix, and Google-parent Alphabet all closed lower. Tesla closed down 7.8% for its first negative day in 12 and worst day since Sept. 23. Futures are firmer this morning, Dow up 42 points, S&P + 4 points.
Stocks in Asia-Pacific are mixed after Wall Street pulled back overnight from all-time highs. Chinese mainland stocks trade higher, ASX 200 flat, Hang Seng + 0.71%, Nikkei + 0.16% while the Kospi is 1.02% lower. Tencent + 0.51%
Gold ticks higher as Asian stocks slipped on political ferment in Washington and a global surge in coronavirus cases, although a firmer dollar and higher U.S. Treasury yields limited gains. Gold is up 0.73% at $ 1857, Silver gained 0.8% to $25.11 an ounce. Platinum rose 2.3% to $1,055.23, while palladium climbed 0.3% to $2,378.25.