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Asian Equities Traded in the US as American Depositary Receipts Rise in Tuesday Trading

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Asian equities traded in the US as American depositary receipts were tracking higher Tuesday morning, rising 0.52% to 2,998.72 on the S&P Asia 50 ADR Index.

From North Asia, the gainers were led by fashion platform MOGU (MOGU) and polysilicon manufacturer Daqo New Energy (DQ), which advanced 5.9% and 3.6% respectively. They were followed by education company 17 Education & Technology Group (YQ) and lender Shinhan Financial Group (SHG), which increased 3.4% and 3.2% respectively.

The decliners from North Asia were led by fintech firm Jiayin Group (JFIN) and semiconductor company Silicon Motion Technology (SIMO), which fell 5.4% and 5.3% respectively. They were followed by fintech firm LexinFintech (LX) and semiconductor company Himax Technologies (HIMX), which were down 5% and 3.3% respectively.

From South Asia, the gainers were led by telecommunications operators PLDT (PHI) and Telekomunikasi Indonesia (TLK), which rose 1.6% and 1.3% respectively. They were followed by pharmaceutical company Dr. Reddy's Laboratories (RDY) and lender HDFC Bank (HDB), which were up 0.7% and 0.5% respectively.

The decliners from South Asia were led by computer hardware maker Canaan (CAN), which dropped 11%, followed by IT firm Sify Technologies (SIFY), which lost 0.6%.

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Update: US Equity Indexes Fall Amid Gains in Crude Oil, Benchmark Treasury Yield as Iran War Hostilities Resurge

(Updates with index/price moves, macroeconomic data, and company/geopolitical news from the first paragraph.)US equity indexes fell as crude oil jumped amid renewed Washington-Tehran military escalation and the 10-year government bond yield rose to its highest in about a month.The Nasdaq Composite fell 0.1% to 26,370.89, the S&P 500 retreated 0.3% to 7,686.14, and the Dow Jones Industrial Average slid 0.7% to 53,185.90 on Monday. All sectors, except energy and technology, declined. Communication services led decliners, followed by utilities and industrials.President Donald Trump said the US will respond to an Iranian attack on US forces overnight in Jordan, Fox News reported. US air defenses intercepted all but one Iranian missile, which was allowed through because it was not expected to hit anything of consequence, the report said, citing the president. Iran said it attacked US bases in Jordan and US military targets at the Al Menhad airbase in the United Arab Emirates after US forces bombed two rocket launchers on Iran's Larak Island.Iran's military has reiterated a warning to the region not to allow the US military to launch attacks from their soil or risk retaliation, Al Jazeera, a Middle Eastern broadcaster, reported. "As we have demonstrated on the ground, while respecting the national sovereignty of our neighbours, we will never tolerate any form of aggression and will respond with a far heavier retaliation," Al Jazeera cited a military statement.The front-month US West Texas Intermediate crude oil contract advanced 3.1% to $85.96 per barrel, and global benchmark North Sea Brent climbed 2.7% to $90.50 per barrel in the final leg of trading.In economic news, the Dallas Fed's monthly manufacturing index jumped to 11.6 in August from 1.3 in July, above expectations for 1.6 in a survey compiled by Bloomberg, indicating a faster pace of expansion."Along with the increase in output, other measures of manufacturing activity also pointed to faster growth this month," said Jesus Caas, senior business economist at the Dallas Fed. "However, employment growth slowed slightly. Price pressures were relatively stable but remained markedly elevated while wage pressures eased."Federal Reserve Chair Kevin Warsh's speech Friday was "particularly hawkish, according to a note from Capital Wealth Planning. The next Fed policy meeting will be in mid-September, with the August inflation print due beforehand, per the note. Citing the CME's FedWatch tool, the futures market is pricing in one or two rate hikes by the year-end, potentially one in September followed by another in December.US Treasury yields were mixed ahead of the close. The 10-year yield climbed 3.4 basis points to 4.76%, the highest since July-end, while the two-year was steady at 4.35%.In company news, Tesla (TSLA) is selling a simplified version of Model 3 at a lower price in Hong Kong and Macau than in mainland China, according to media reports and the company's regional websites. Shares jumped 5.5%, the second-biggest gainer on the S&P 500 and the Nasdaq.Shares of PG&E (PCG) and Edison International (EIX) were among decliners, down 20% and 23%, respectively, after California amended legislation to protect wildfire survivors' right to sue utilities for equipment-caused blazes, ABC7 reported Sunday. The duo was the worst performers on the S&P 500.

Dow JonesNasdaq CompositeS&P 500$EIX$PCG$TSLA
Asia Markets

Update: US Equity Indexes Fall While Benchmark Treasury Yield Jumps With Crude Oil as Iran Hostilities Resume

(Updates with index/price moves, macroeconomic data, and company/geopolitical news from the first paragraph.)US equity indexes declined as investors weighed renewed Washington-Tehran military escalation amid higher crude oil prices and a march up in the 10-year government bond yield to the highest in about a month.The Nasdaq Composite fell 0.4% to 26,309.5, the S&P 500 retreated 0.4% to 7,677.6, and the Dow Jones Industrial Average slid 0.7% to 53,208.3 after midday Monday. All sectors, except energy, declined. Communication services led decliners, followed by utilities, industrials, and real estate.Iran and the US traded attacks for the first time in over a month overnight into Monday, CNN reported. Iran said it attacked US bases in Jordan and US military targets at the Al Minhad airbase in the United Arab Emirates after US forces bombed two rocket launchers on Iran's Larak Island, according to a report from Al Jazeera, a Middle Eastern broadcaster.The US military struck the two launchers that a US official said were attempting to deploy mines into the Strait of Hormuz, Reuters reported. The United Arab Emirates condemned the Iranian drone attack on Monday as a "dangerous escalation" and a flagrant violation of its sovereignty, the news report said.President Donald Trump said the US will respond to an Iranian attack on US forces overnight in Jordan, Fox News reported. US air defenses intercepted all but one Iranian missile, which was allowed through because it was not expected to hit anything of consequence, the report said, citing the president.The front-month US West Texas Intermediate crude oil contract advanced 2.7% to $85.62 per barrel, and global benchmark North Sea Brent climbed 4.8% to $90.32 per barrel.In economic news, the Dallas Fed's monthly manufacturing index jumped to 11.6 in August from 1.3 in July, above expectations for 1.6 in a survey compiled by Bloomberg, indicating a faster pace of expansion.Federal Reserve Chair Kevin Warsh's speech Friday was "particularly hawkish, emphasizing that the Fed's 2% inflation target remains the objective but recently, there has been no meaningful movement toward that mark," according to a note from Capital Wealth Planning. Inflation is still above the Fed's target, and Warsh believes that short-term interest rates are the central bank's primary tool to reel it in.The next Fed policy meeting will be in mid-September, with an inflation reading for August to be released beforehand, per the note. Citing the CME's FedWatch tool, the futures market is pricing in one or two rate hikes by the year-end, potentially one in September followed by another in December.US Treasury yields were mixed after midday. The 10-year yield climbed 3.4 basis points to 4.76%, while the two-year was steady at 4.35%. The 30-year yield jumped 4.5 basis points to 5.25%.In company news, Aon (AON) said it has agreed to acquire insurance brokerage USI Insurance Services from KKR (KKR) and other shareholders in an all-cash deal worth roughly $17 billion, as the professional services firm aims to strengthen its presence in the US middle-market insurance segment. Aon shares were down 8%.Eli Lilly (LLY) has agreed to acquire Merida Biosciences for up to $2.875 billion in cash, as it seeks to expand its portfolio of autoimmune and allergic disease therapies, the companies said Monday. Eli Lilly shares were down 1.5%.Tesla (TSLA) is selling a simplified version of Model 3 at a lower price in Hong Kong and Macau than in mainland China, according to media reports and the company's regional websites. Shares jumped 5.2%, the top gainer on the S&P 500 and the Nasdaq.Shares of PG&E (PCG) and Edison International (EIX) were among the decliners, down 18% and 24%, respectively, after the state of California amended legislation to protect wildfire survivors' right to sue utilities for equipment-caused blazes, ABC7 reported Sunday.

Dow JonesNasdaq CompositeS&P 500$AON$EIX$KKR$LLY$PCG$TSLA
Asia Markets

Exchange-Traded Funds Lower as US Equities Fall After Midday

Broad Market IndicatorsBroad-market exchange-traded funds IWM and IVV were lower. Actively traded Invesco QQQ Trust (QQQ) eased 0.2%.US equity indexes declined after midday Monday as crude oil prices rose following renewed fighting between the US and Iran overnight.EnergyIShares US Energy ETF (IYE) and the State Street Energy Select Sector SPDR (XLE) each added about 0.8%.TechnologyThe State Street Technology Select Sector SPDR ETF (XLK) edged up 0.1%; iShares US Technology ETF (IYW) and iShares Expanded Tech Sector ETF (IGM) were softer.The State Street SPDR S&P Semiconductor (XSD) rose fractionally, while iShares Semiconductor (SOXX) added 0.2%.FinancialThe State Street Financial Select Sector SPDR (XLF) dipped 0.6%. Direxion Daily Financial Bull 3X Shares (FAS) declined 1.6%, and its bearish counterpart, Direxion Daily Financial Bear 3X Shares (FAZ), advanced 1.8%.CommoditiesCrude oil rose 2.3%, and the United States Oil Fund (USO) added 2.6%. Natural gas gained 1.7%, and the United States Natural Gas Fund (UNG) was up 1.9%.Gold on Comex slipped 1%, and the State Street SPDR Gold Shares (GLD) was down 0.6%. Silver fell 1.1%, and iShares Silver Trust (SLV) shed 0.2%.ConsumerThe State Street Consumer Staples Select Sector SPDR (XLP) fell 0.6%. The Vanguard Consumer Staples ETF (VDC) lost 0.4%, and iShares Dow Jones US Consumer Goods (IYK) was down 0.6%.The State Street Consumer Discretionary Select Sector SPDR (XLY) eased 0.3%. VanEck Retail ETF (RTH) was down 0.5%, and the State Street SPDR S&P Retail (XRT) dipped 0.5%.HealthcareThe State Street Health Care Select Sector SPDR (XLV) fell 0.4%. iShares US Healthcare (IYH) and Vanguard Health Care ETF (VHT) were also lower. IShares Biotechnology ETF (IBB) eased 0.3%.IndustrialThe State Street Industrial Select Sector SPDR (XLI) fell 1.2%. Vanguard Industrials Index Fund (VIS) and iShares US Industrials (IYJ) were also in the red.CryptocurrencyIn midday activity, bitcoin (BTC-USD) eased 0.2%. Among cryptocurrency ETFs, ProShares Bitcoin ETF (BITO) added 1.4%, ProShares Ether ETF (EETH) was up 1.5%, and ProShares Bitcoin & Ether Market Cap Weight ETF (BETH) gained 1.6%.

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