Bloomberg Daybreak: Asia Edition Recapping the APAC Trading Week, Amazon Earnings, US Jobs Data
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Feb 7, 2025 Mary Nicola, Bloomberg MLIV Strategist based in Singapore, kicks off a discussion on the fast-paced APAC trading week. Arun Sundaram, Vice President at CFRA, analyzes Amazon's earnings, highlighting challenges and future tech investments. Keith Buchanan, Senior Portfolio Manager, dives into the upcoming U.S. jobs report, emphasizing its significance for financial markets and Fed policies. The discussion uncovers the resilience of the Japanese yen and the impact of tariffs on e-commerce, painting a complex picture of global market dynamics.
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Chinese Stock Market Dynamics
- Some Chinese e-commerce stocks are under pressure due to a potential additional levy.
- However, Chinese stocks performed well due to optimism surrounding AI and robotics.
Government Support and Tech Excitement in China's Market
- The Chinese government's involvement in supporting the equity market is a factor.
- There's underlying excitement about AI and tech, fueled by companies like DeepSeek.
Chinese Consumer Spending During Lunar New Year
- High-frequency data from the Lunar New Year holiday shows strong travel and box office numbers.
- However, per capita spending remains below 2019 levels, indicating lingering consumer caution.