[Truman]

Equity indices in the Asia-Pacific region began the week on a mostly lower note.

Japan’s Nikkei: -1.2%,
Hong Kong’s Hang Seng: -1.4%,
China’s Shanghai Composite: -0.3%,
India’s Sensex: +0.1%,
South Korea’s Kospi: -0.8%,
Australia’s ASX All Ordinaries: -0.8%.

[Truman]

India’s July trade deficit $20.67 bln (last deficit of $20.13 bln).
July WPI Inflation -1.4% yr/yr (expected -2.7%; last -4.1%)

New Zealand’s June External Migration & Visitors 88.5% (last 120.4%)

[Truman]

There were renewed concerns about the financial shape of Chinese developers amid a suspension of bond trading in Country Garden.
Separately, trading in Sino Ocean’s one-year notes was also suspended.
There was also speculation about state support due to large inflows to China-related ETFs over the past two weeks.s.

[Truman]

Major European indices trade near their flat lines while Italy’s MIB (+0.7%) outperforms ahead of tomorrow’s holiday closure that will reduce overall volume.
STOXX Europe 600: +0.2%,
Germany’s DAX: +0.4%,
U.K.’s FTSE 100: -0.4%,
France’s CAC 40: +0.2%,
Italy’s FTSE MIB: +0.7%,
Spain’s IBEX 35: +0.2%.

[Truman]

Germany’s July WPI -0.2% m/m (expected -1.4%; last -0.2%);
-2.8% yr/yr (expected -2.6%; last -2.9%)
Germany’s Economy Minister Habeck said that early indicators are not implying a sustainable economic recovery yet.

[Truman]

Bank Indonesia intervened in the foreign exchange market to slow a slide in the rupiah.

• This reply was modified 1 month, 2 weeks ago by Truman.

[Truman]

Dutch holding company Exor acquired a 15% stake in Philips.

[Truman]

Italy’s Prime Minister Meloni said that she is taking full responsibility for the plan for a 40% windfall tax on bank profits.

[Truman]

U.S. Steel (X 28.82, +6.10, +26.9%): receives proposal to be acquired by Cleveland-Cliffs (CLF) for total consideration of $35.00 per share; announces strategic alternatives process; company committed to maximize stockholder value after receiving multiple unsolicited proposals

[Truman]

AMC Entertainment (AMC 3.43, -1.81, -34.4%): plummeting after winning court approval of a revised stock conversion plan, according to Bloomberg

[Truman]

Okta (OKTA 74.75, +3.35, +4.7%): upgraded to Buy from Sell at Goldman

[Truman]

Westlake Corporation (WLK 135.00, +2.82, +2.1%): raises dividend by 40% to $0.50 per share

[Truman]

Tesla (TSLA 236.87, -5.80, -2.4%): cuts prices in China, according to Bloomberg

[Truman]

JinkoSolar (JKS 35.00, -0.93, -2.6%): subsidiary Jiangxi Jinko announces proposed private offering of up to RMB9.7 billion in ordinary shares; Reports Q2 (Jun) results, beats on rev

Monday.com (MNDY 16.00, +9.16, +5.9%): beats by $0.24, beats on revs; guides Q3 revs above consensus; guides FY23 revs above consensus

[Truman]

$NVDA Pre-Market: $405.30 -3.25 (-0.80%) after being named a Top Pick at Morgan Stanley ahead of earnings report

[Author]

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