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Asia Stocks Edge Higher Before Trade Talks, Fed: Markets Wrap
(Bloomberg) -- Asian stocks edged higher Tuesday as investors awaited news from the resumption of U.S.-China trade talks. The yen fluctuated as the Bank of Japan left interest rates unchanged.Shares saw modest gains in Japan, South Korea and Australia, which could see a record close if the advance holds. Hong Kong stocks also edged up despite continuing protests in the city, with China warning that unrest had gone “far beyond” peaceful protest. Earlier, the S&P 500 Index fell for the second time in three sessions after reaching a record Friday as Amazon Inc., Facebook Inc., Alphabet Inc. and Netflix Inc. all slid. Treasury yields were little changed and the dollar touched its highest in almost two months.Investors are likely to opt for the sidelines as they await developments on trade with Chinese and American negotiators gathering for two days of talks Tuesday, three months after negotiations broke down. Fed Chairman Jerome Powell’s post-meeting press conference Wednesday will provide an chance to gauge the trajectory of U.S. rates after the central bank is anticipated to ease policy.In Asia, the Bank of Japan left its asset purchases unchanged as well as its forward guidance for policy rates, which some observers had speculated the board could tweak. The central bank also pared its inflation and growth forecasts.Meanwhile, as corporate reporting seasons roll on in the U.S., Japan and Australia, traders will be looking for any impact from the protracted trade dispute. Japan’s factory output fell more than expected in June as the trade tensions and a slowdown in the global economy dragged exports lower for a seventh straight month.Elsewhere, the pound extended a slide to its lowest in more than two years as U.K. Prime Minister Boris Johnson stepped up preparations for a no-deal Brexit. Oil gained on speculation that demand will get a bump from the potential U.S. Federal Reserve rate cut.Here are some of the key events to watch as the week unfolds:Earnings include: Nintendo, Qualcomm, AMD, Siemens, Sony, Credit Suisse, Nomura, Toyota, Honda, Ferrari, GM, BMW, Rio Tinto, ConocoPhillips, BP, Shell, Vale, Heineken, GE, Altria.Bank of Japan rate decision and Governor Haruhiko Kuroda briefing are due Tuesday.U.S. Trade Representative Robert Lighthizer and his team meet their Chinese counterparts in Shanghai Tuesday.Fed officials begin their two-day meeting on monetary policy in Washington Tuesday. Chairman Jerome Powell will hold a press conference following the FOMC’s decision Wednesday.The Bank of England policy decision is due Thursday.The U.S. July jobs report is due Friday.These are the main moves in markets:StocksThe MSCI Asia Pacific Index rose 0.4% as of 10:31 a.m. in Tokyo.S&P 500 futures rose 0.2%. The S&P 500 Index fell 0.2% Monday.Japan’s Topix Index rose 0.6%.Korea’s Kospi Index gained 0.4%.Australia’s S&P/ASX 200 Index gained 0.4%.Shanghai Composite Index climbed 0.3%.Hang Seng Index rose 0.3%.CurrenciesThe yen was little changed at to 108.69 per dollar.The offshore yuan was flat at 6.8925 per dollar.Bloomberg Dollar Spot Index rose 0.1%.The euro fell 0.1% to $1.1136.The British pound fell 0.4% to $1.2175 after dropping 1.3%, its biggest slide in more than eight months.BondsThe yield on 10-year Treasuries held around 2.06%.Australian 10-year yields were at 1.20%.CommoditiesWest Texas Intermediate crude gained 0.6% to $57.20 a barrel.Gold fell 0.3% to $1,423 an ounce.\--With assistance from Chikako Mogi.To contact the reporter on this story: Andreea Papuc in Sydney at apapuc1@bloomberg.netTo contact the editor responsible for this story: Christopher Anstey at canstey@bloomberg.netFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
https://finance.yahoo.com/news/asia-stocks-look-mixed-dollar-215555888.html?.tsrc=rss
(Bloomberg) -- Asian stocks edged higher Tuesday as investors awaited news from the resumption of U.S.-China trade talks. The yen fluctuated as the Bank of Japan left interest rates unchanged.Shares saw modest gains in Japan, South Korea and Australia, which could see a record close if the advance holds. Hong Kong stocks also edged up despite continuing protests in the city, with China warning that unrest had gone “far beyond” peaceful protest. Earlier, the S&P 500 Index fell for the second time in three sessions after reaching a record Friday as Amazon Inc., Facebook Inc., Alphabet Inc. and Netflix Inc. all slid. Treasury yields were little changed and the dollar touched its highest in almost two months.Investors are likely to opt for the sidelines as they await developments on trade with Chinese and American negotiators gathering for two days of talks Tuesday, three months after negotiations broke down. Fed Chairman Jerome Powell’s post-meeting press conference Wednesday will provide an chance to gauge the trajectory of U.S. rates after the central bank is anticipated to ease policy.In Asia, the Bank of Japan left its asset purchases unchanged as well as its forward guidance for policy rates, which some observers had speculated the board could tweak. The central bank also pared its inflation and growth forecasts.Meanwhile, as corporate reporting seasons roll on in the U.S., Japan and Australia, traders will be looking for any impact from the protracted trade dispute. Japan’s factory output fell more than expected in June as the trade tensions and a slowdown in the global economy dragged exports lower for a seventh straight month.Elsewhere, the pound extended a slide to its lowest in more than two years as U.K. Prime Minister Boris Johnson stepped up preparations for a no-deal Brexit. Oil gained on speculation that demand will get a bump from the potential U.S. Federal Reserve rate cut.Here are some of the key events to watch as the week unfolds:Earnings include: Nintendo, Qualcomm, AMD, Siemens, Sony, Credit Suisse, Nomura, Toyota, Honda, Ferrari, GM, BMW, Rio Tinto, ConocoPhillips, BP, Shell, Vale, Heineken, GE, Altria.Bank of Japan rate decision and Governor Haruhiko Kuroda briefing are due Tuesday.U.S. Trade Representative Robert Lighthizer and his team meet their Chinese counterparts in Shanghai Tuesday.Fed officials begin their two-day meeting on monetary policy in Washington Tuesday. Chairman Jerome Powell will hold a press conference following the FOMC’s decision Wednesday.The Bank of England policy decision is due Thursday.The U.S. July jobs report is due Friday.These are the main moves in markets:StocksThe MSCI Asia Pacific Index rose 0.4% as of 10:31 a.m. in Tokyo.S&P 500 futures rose 0.2%. The S&P 500 Index fell 0.2% Monday.Japan’s Topix Index rose 0.6%.Korea’s Kospi Index gained 0.4%.Australia’s S&P/ASX 200 Index gained 0.4%.Shanghai Composite Index climbed 0.3%.Hang Seng Index rose 0.3%.CurrenciesThe yen was little changed at to 108.69 per dollar.The offshore yuan was flat at 6.8925 per dollar.Bloomberg Dollar Spot Index rose 0.1%.The euro fell 0.1% to $1.1136.The British pound fell 0.4% to $1.2175 after dropping 1.3%, its biggest slide in more than eight months.BondsThe yield on 10-year Treasuries held around 2.06%.Australian 10-year yields were at 1.20%.CommoditiesWest Texas Intermediate crude gained 0.6% to $57.20 a barrel.Gold fell 0.3% to $1,423 an ounce.\--With assistance from Chikako Mogi.To contact the reporter on this story: Andreea Papuc in Sydney at apapuc1@bloomberg.netTo contact the editor responsible for this story: Christopher Anstey at canstey@bloomberg.netFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
https://finance.yahoo.com/news/asia-stocks-look-mixed-dollar-215555888.html?.tsrc=rss
