Adani China returns from New Year, CSI 300, New Zealand trade

Daniel Newman, a founding partner and principal analyst at Futurum Research, told CNBC’s “Street Signs Asia” on Monday that as the Netherlands and Japan join the U.S. in tightening regulations, China will have to wait to catch up with advanced chip technology. said it could take 10 years.

The two companies agreed on Friday to join the U.S. in restricting exports of some semiconductor manufacturing equipment to China, Bloomberg reported.

One of China’s top suppliers is the Dutch company ASML, which manufactures the deep ultraviolet (DUV) lithography systems needed to manufacture state-of-the-art chips.

CEO Paul Wennink said China will account for about 15% of sales in 2022.

“The advanced lithography machine that ASML builds is one of the most advanced in the world. It will probably take 10 years,” Newman said.

– Sheila Chen

shares of Adani Enterprise The company’s chief financial officer (CFO) expressed confidence in an additional public offering due to complete on Jan. 31, so the stock rose 10% after seeing sharp losses in the previous session.

The stock is still down more than 20% in the first month of the year.

Adani Group chief financial officer Jugesinder Singh said on Monday he was confident. Adani EnterpriseThe additional public offering will be fully invested.

A $2.5 billion sale of secondary stock was overshadowed by a crash of about $48 billion as shares of conglomerate affiliates plunged twice in a row. This comes after short-selling firm Hindenburg accused the group of being “involved in a brazen stock manipulation and accounting fraud scheme.” over decades. ”

In an interview with CNBC affiliate CNBC-TV18, Singh said the change in Adani Enterprises’ value was not “just” due to share price volatility, but “its ability to nurture new business.” I was.

He added that Hindenburg’s report was “just a lie” and that the timing of the report was “malicious”.

The Adani Group published a lengthy response of over 400 pages to the Hindenburg report over the weekend, claiming it has the right to “seek remedies” to protect its stakeholders “before all appropriate authorities.” said to exercise

Hindenburg on Monday morning called the group’s response “bloated” and claimed it “ignored all material allegations” against the conglomerate brought by it.

— Lee Ji-hye

The Asia-Pacific region is set to release a series of economic data this week as the US Federal Reserve kicks off its two-day FOMC meeting on Tuesday. The central bank will announce its interest rate decision on Wednesday when the meeting ends.

China’s National Bureau of Statistics released its Purchasing Managers’ Index on Tuesday, and economists polled by Reuters expect to see a reading of 49.8, just below the 50 mark that separates growth and contraction.

A print of Japanese Unemployment and Industrial Production will also be published on the same day. Korea’s industrial output will also be released.

On Wednesday, Malaysia will observe a market holiday and Indonesia will release its latest inflation data.

Australia’s construction approvals are in print and South Korea’s inflation index is due out on Thursday.

On Friday, Hong Kong will release its latest retail sales data.

— Lee Ji-hye

Oil prices could approach $100 a barrel in the second half, according to RBC Capital Markets’ Michael Tran.

“The bottom line is that China will buy a lot of oil in the coming months,” he said.

Brent crude futures ended up trading flat at $86.85 a barrel, while US West Texas Central futures rose 0.09% to $79.75 a barrel.

Investors and OPEC+ are also watching whether the EU’s embargo on Russian petroleum products starting this Sunday will lead to major disruptions. The oil cartels are not expected to make any real changes to quotas or production guidance at upcoming meetings, Tran predicts.

— Lee Yingxiang

China’s CSI 300 opened 2% higher, according to Refinitiv data.

Mainland China Listed Stocks BYD rose more than 6%, Lens Technology rose more than 15%, and Yunnan Energy New Material rose nearly 10%.

Contemporary Amperex Technology Co. Ltd made a profit of 5.9%, Guizhou Maotai increased by 1.65%.

— Lee Ji-hye

China’s CSI 300, which tracks the largest mainland listed stocks, is poised to enter a bull market as trading resumes later in the day.

The CSI 300 is up 19.18% from its October 31st low, according to Refinitiv data. The last trading session on January 20th closed at 4,181.53.

A bull market is defined as a market period during which stock prices have risen by at least 20% from their recent lows.

of ChinaAMC CSI 300 Index ETFTracking the performance of the index is up 23% from its October low.

All major averages closed out Friday’s winning week.

In this session, the Nasdaq Composite rose 0.95% to close at 11,621.71 while the S&P 500 rose 0.25% to close at 4,070.56. The Dow Jones Industrial Average rose 28.67 points (0.08%) to close at 33,978.08.

— Samantha Soobin

The University of Michigan consumer sentiment data for January exceeded expectations.

January’s reading was 64.9, slightly above the consensus estimate of 64.6 of economists polled by Dow Jones. This index quantifies the outlook for current and future economic conditions.

— Alex Haring

Nearly two-thirds of the 13 S&P 500 stocks that hit a 52-week high in early trading on Friday were also trading at all-time highs. The list is growing out of the recent energy/materials/resources focus. Caterpillar, one of his 13 companies, also belongs to Dow.

• Borg Warner (BWA), highest since January 2022
• Las Vegas Sands (LVS), highest since June 2021
• Starbucks (SBUX), highest since January 2022
• Ulta (ULTA) hits highest price since 2007 IPO
• win (WYNN), highest since September 2021
• marathon oil (MPC) to return to all-time high for June 2011 MRO spin-off
• Arthur J. Gallagher (AJG) hits highest price since 1984 IPO
• chub (CB), all-time high
• caterpillar (CAT), highest since NYSE listing in 1929
• general electric (GE), highest since November 2021
• transdime group (TDG) hits highest price since 2006 IPO
• united rentals (URI), highest since 1997 IPO
• steel dynamics (STLD), highest since 1996 IPO

Other notable highs beyond 500:

• Churchill Downs Racecourse (CHDN), highest since October 2021
• Renner (LEN.B), highest since January 2022
• November (NOV), highest since January 2020
• axis capital (AXS), highest since February 2020
• HEICO (HEI), dating back to 1960 IPO
• Night Swift Transportation (KNX), highest since January 2022
• Lincoln Electric Holdings (LECO), highest price since Nasdaq listing in 1995
• Allegro Microsystems (ALGM), highest since January 2022
• Fair Isaac (FICO), highest since NYSE listing in 1986
• Reliance Steel & Aluminum (RS), all-time high

— Scott Schnipper, Christopher Hayes

Tesla Shares surged more than 33% this week, catching up with the pace of the best weekly performance since electric vehicle shares surged 40.72% in the week ended May 10, 2013.

If Tesla closes at these levels, it will be the second best weekly performance to date. As of 12:40 p.m., EST’s share price is trading about 33.8% higher for the week.

The rise in Tesla shares follows the company’s latest earnings report, which topped record earnings and earnings. Shares rose more than 11% he on Friday.

Tesla’s sharp rally comes after the stock plummets 65% in 2022, its worst month, quarter and year.

Tesla’s gains also boosted the S&P 500 consumer goods sector by more than 2%.