2025-08-28 04:39

A look at the day ahead in European and global markets from Gregor Stuart Hunter Tech stocks are pulling back after Nvidia (NVDA.O) , opens new tab released earnings that any other CEO would probably kill for. Sign up here. The chip designer and AI bellwether reported a beat to analysts' estimates and forecast Q3 revenue that was higher than Wall Street estimates. But a miss on data centre revenue and questions over China forecasts sent its shares sliding more than 3% in after-hours trading. "Nvidia's results had to be blemish free and, despite being objectively good, they weren't perfect," said Kyle Rodda, senior market analyst at Capital.com. "With the stock trading at such a high valuation, any bad news was going to be punished." Following two days of gain that have pushed U.S. markets to a record high, S&P 500 e-mini futures fell 0.1% and Nasdaq futures tumbled 0.2% after Nvidia's results. MSCI's broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS) , opens new tab swung between gain and loss, and was last down 0.3%. SPILLOVER The chill was felt across the Asian tech sector, as Taiwan Semiconductor Manufacturing Co (2330.TW) , opens new tab tumbled 1.7% and Samsung Electronics (005930.KS) , opens new tab slipped 0.7%, hinting at what may be in store for Dutch chipmaker ASML (ASML.AS) , opens new tab in the European session. Nvidia's Chinese competitors surged, with SMIC (0981.HK) , opens new tab gaining 8.3% and Cambricon Technologies - whose shares have almost tripled since mid-July - adding another 7.1% after the company on Wednesday said it had swung into profit. The two chipmakers pushed the STAR 50 Index of Chinese growth stocks to a gain of as much as 5%. REINING IN EXPECTATIONS French bonds steadied, with the yield on 30-year bonds pulling back from the highest level since November 2011 on Wednesday as traders dialled back expectations of the hit to government borrowing costs from the country's political crisis. In trade news, Japanese stocks fluctuated between gain and loss, with the Nikkei 225 last up 0.6%, after Kyodo news agency reported on Thursday that Japan's top trade negotiator Ryosei Akazawa cancelled a planned visit to the United States, where he was set to iron out details of a trade deal agreed last month. Key developments that could influence markets on Thursday: https://www.reuters.com/world/china/global-markets-view-europe-2025-08-28/

2025-08-28 04:15

Aug 28 (Reuters) - Foreign investors were net sellers of Japanese stocks in the week to August 20, for the first time in nine weeks, as they turned cautious, moving to lock in profits after a selloff in technology stocks stalled a market rally. They divested a net 496.8 billion yen ($3.37 billion) worth of Japanese stocks last week, marking their first weekly net sales since June 21, data from Japan's Ministry of Finance showed on Thursday. Sign up here. The Nikkei 225 Index (.N225) , opens new tab fell 1.72% last week, after hitting a record high of 43,876.42 earlier in the week. Technology investor SoftBank Group (9984.T) , opens new tab, which jumped as much as 43.9% this month to a record high of 16,995 yen early last week, later faced heavy selling and ended the week down 9.9%. Chip-testing equipment maker Advantest (6857.T) , opens new tab also lost 4.7% over the week. Japanese long-term bonds also saw a weekly net foreign outflow of 106 billion yen as foreigners ended two weeks buying streak. They also sold short-term bills of a net 36.1 billion yen. Japanese investors, meanwhile, withdrew a net 306.1 billion yen from foreign stocks last week, the third weekly net sales in four weeks. International long-term bonds also lost a net 167.2 billion yen worth of Japanese investments last week as Japanese investors extended net sales into a second successive week. ($1 = 147.3300 yen) https://www.reuters.com/business/finance/foreigners-snap-japanese-stock-purchases-tech-rally-cools-2025-08-28/

2025-08-28 03:14

MUMBAI, Aug 28 (Reuters) - The Indian rupee is set to open largely unchanged to slightly higher on Thursday, with bets for a Federal Reserve rate cut and hopes of the Reserve Bank of India's (RBI) intervention offsetting the drag from steep U.S. tariffs. The 1-month non-deliverable forward indicated the rupee will open in the 87.62-87.68 range versus the U.S. dollar, compared with Tuesday's level of 87.68. India's financial markets were shut on Wednesday for a local holiday. Sign up here. The RBI likely stepped in on Tuesday to curb losses after the rupee came under pressure when Washington confirmed additional tariffs on Indian goods, traders said The rupee had briefly dipped to an intraday low of 87.80, before likely RBI dollar sales kicked in, preventing a test of the all-time low at 87.95. "For now, (the) RBI has effectively drawn a line in the sand near the highs, capping dollar/rupee," a currency trader at a Mumbai-based bank said. "That said, the bias stays topside and that's unlikely to flip anytime soon." The rupee will have to contend with likely higher dollar hedging demand from importers, long dollar positioning interest from speculators and potential equity-related outflows. Foreign investors offloaded more than $700 million worth of Indian shares on Tuesday, underscoring the risk-off tone that dragged equities down 1%. ASIA INCHES UP Most Asian currencies rose, supported by bets on a Fed rate cut next month. New York Fed President John Williams told CNBC on Wednesday that a September move was possible, noting that "every meeting is, from my perspective, live." The comment came after Fed Chair Jerome Powell's dovish pivot at Jackson Hole last week. Traders currently lay around 84% odds of a quarter-point rate cut next month, pricing in a cumulative 56 basis points of cuts this year. KEY INDICATORS: ** One-month non-deliverable rupee forward at 87.74-87.78; onshore one-month forward premium at 12 paise ** Dollar index down at 98.07 ** Brent crude futures falls 0.7% to $67.6 per barrel ** Ten-year U.S. note yield at 4.23% ** As per NSDL data, foreign investors sold a net $177.9 million worth of Indian shares on August 25 ** NSDL data shows foreign investors bought a net $42.8 million worth of Indian bonds on August 25 https://www.reuters.com/world/india/fed-rate-cut-hopes-rbi-support-shield-rupee-us-tariff-drag-2025-08-28/

2025-08-28 00:30

SAO PAULO, Aug 27 (Reuters) - Brazil trade panel Gecex/Camex approved on Wednesday temporary antidumping measures against the imports of polyethylene resins from Canada and the United States, according to the Ministry of Development, Industry, Trade and Services. The ministry's statement did not provide details on the measures, noting only they would last for up to six months. The panel also approved definitive antidumping measures against the import of carbon steel sheets from China, it added. Sign up here. https://www.reuters.com/markets/asia/brazil-approves-temporary-antidumping-measures-against-canadian-us-polyethylene-2025-08-28/

2025-08-27 23:53

Aug 28 (Reuters) - Australia's Lynas Rare Earths (LYC.AX) , opens new tab reported a worse-than-feared full-year profit on Thursday, hurt by depreciation costs from its Kalgoorlie and Mt Weld facility expansion, and warned that its Texas heavy processing plant may not move forward. Separately, the miner announced an A$750 million ($487.35 million) equity raising to "pursue new growth opportunities". Sign up here. Lynas, the world's largest rare-earths producer outside China, said its net profit after tax came in at A$8 million for the year ended June 30, a sharp decline from an A$84.5 million reported a year earlier. The annual figure also missed the Visible Alpha consensus estimate of A$30.4 million. The miner said it is in negotiations with the U.S. Department of Defence to reach a mutually acceptable offtake agreement for production from its Seadrift heavy rare-earths processing facility in Texas. "While there can be no certainty that offtake agreements will be agreed, any offtake agreements would need to be on commercial terms acceptable to Lynas," it added. ($1 = 1.5389 Australian dollars) (This story has been refiled to fix the dateline) https://www.reuters.com/world/china/lynas-rare-earths-posts-annual-profit-slump-launches-487-million-capital-raising-2025-08-27/

2025-08-27 23:52

Aug 28 (Reuters) - Australia's Lynas Rare Earths (LYC.AX) , opens new tab posted a more than 90% fall in its full-year profit on Thursday, hurt by depreciation from its Kalgoorlie and Mt Weld facility expansion, while announcing an A$750 million ($487.35 million) equity raising. The world's largest rare earths producer outside China said its net profit after tax was A$8.0 million for the year ended June 30, compared with A$84.5 million reported a year earlier. Sign up here. That missed the Visible Alpha consensus estimate of A$30.4 million. ($1 = 1.5389 Australian dollars) https://www.reuters.com/world/china/australias-lynas-posts-over-90-fall-annual-profit-raise-487-million-2025-08-27/