Japan – Nikkei 225 +0.49%
The Japanese market continued to rise thanks to the weakening yen, benefiting exporters. However, disappointing wage data (+2.5% vs. 3.2% expected) has rekindled doubts about the strength of consumption. The Bank of Japan remains open to monetary tightening if trade tensions ease.
China – Shanghai Composite +0.27%
Slight increase driven by optimism surrounding trade negotiations with the United States. Markets remain cautious ahead of trade data and July inflation figures. The offshore yuan fell to 7.19/$, reflecting a wait-and-see attitude towards a possible extension of the US-China truce.
Hong Kong – Hang Seng +0.03%
After two days of gains, the Hang Seng paused as tech, consumer, and financial stocks came under pressure. Volatility remains fueled by tariff tensions and global macroeconomic uncertainty.
India – Sensex -0.14%
The Indian market edged down after the RBI decided to keep its benchmark rate at 5.50%, as expected. The central bank’s neutral tone was overshadowed by Trump’s tariff threats against India, responding to Russian oil imports.
Session Review
The Asian session remains resilient despite a tense global climate: Trump’s tariff threats, mixed economic data, and cautious corporate earnings. Markets continue to be buoyed by hopes of a US-China trade thaw, but tensions remain evident. The bullish momentum in Asia could provide technical support to US futures ahead of major releases.
US After Market Update
Arista Networks ($ANET) +13.00% → Strong beat on operating profits, robust revenue guidance.
Grocery Outlet ($GO) +9.52% → Annual profit forecast revised upwards.
Service Properties Trust ($SVC) +3.81% → Revenue beat, FFO in line.
Snap ($SNAP) -14.59% → Disappointing results and guidance; concerns over monetization.
AMD ($AMD) -6.00% → Slowed data center growth despite in-line results.
Upstart ($UPST) -3.38% → Profit-taking despite strong results.
Kemper ($KMPR) -5.11% → Limited impact despite a $500M share buyback plan.
Supermicro ($SMCI) -16.00% → Results below expectations, weak outlook.
Opendoor ($OPEN) -25.00% → Q3 guidance well below consensus, speculative rally ends.
US Futures - Pre-market
Dow Futures: +0.42%
S&P 500 Futures: +0.39%
Nasdaq 100 Futures: +0.28%
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Have a great session, everyone
Sylvain Mouilhaud: Equity Coach
