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Asia Stocks Trade Mixed After U.S. Rally; Oil Down: Markets Wrap
(Bloomberg) -- Stocks were mixed in Asia on Tuesday and U.S. futures dipped after a modest rally on Wall Street overnight. Crude oil extended sharp losses from Monday.Shares slipped in Japan, ticked higher in Hong Kong and fluctuated in South Korea and China. S&P 500 futures retreated after the index closed at its highest since March 10. West Texas oil futures in New York slumped below $12 a barrel amid a glut of crude and selling by the biggest oil exchange-traded-fund. Treasury yields held Monday’s gains and the dollar stayed lower.Investors will get a slew of corporate earnings and forecasts this week, with reports due from Amazon.com Inc., Barclays Plc and Samsung Electronics Co. Deutsche Bank AG unveiled a surprisingly good earnings report, though it warned about looming credit defaults. The European Commission plans to announce capital-relief measures Tuesday to help keep loans flowing.“What’s very important is not to get overly comfortable with the pace of the equity markets in the last few weeks,” George Toubia, chief investment director at Westpac Private Wealth, said at a briefing in Sydney. “Given the market has run up a fair bit in the last few weeks, this is an environment to be far more selective.”On the virus front: a vaccine could be available as early as this year, according to a coalition funding nine projects. U.S. cases rose at the slowest pace this month, while states including Florida and Ohio took steps toward easing restrictions. Italy reported the lowest levels of new infections in seven weeks and prepared to begin reopening.These are the main moves in markets:StocksS&P 500 futures fell 0.2% as of 10:30 a.m. in Tokyo. The S&P 500 advanced 1.4% at the close of trade in New York.Japan’s Topix Index was down 0.4%.Australia’s S&P/ASX 200 Index rose 0.3%.Kospi index was little changed.Hong Kong’s Hang Seng Index climbed 0.5%.Shanghai Composite Index was up 0.2%.CurrenciesThe yen was at 107.27 per dollar, after appreciating 0.3%.The offshore yuan was little changed at 7.0902 per dollar.The euro traded at $1.0834.BondsThe yield on 10-year Treasuries was at 0.66% after increasing six basis points on Monday.Australian 10-year yields rose about three basis points to 0.94%.CommoditiesWest Texas Intermediate crude fell 8.4% to $11.70 a barrel after tanking 24% Monday.Gold dipped 0.5% to $1,705.25 an ounce.For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
https://finance.yahoo.com/news/asia-stocks-u-peers-higher-214804490.html?.tsrc=rss
(Bloomberg) -- Stocks were mixed in Asia on Tuesday and U.S. futures dipped after a modest rally on Wall Street overnight. Crude oil extended sharp losses from Monday.Shares slipped in Japan, ticked higher in Hong Kong and fluctuated in South Korea and China. S&P 500 futures retreated after the index closed at its highest since March 10. West Texas oil futures in New York slumped below $12 a barrel amid a glut of crude and selling by the biggest oil exchange-traded-fund. Treasury yields held Monday’s gains and the dollar stayed lower.Investors will get a slew of corporate earnings and forecasts this week, with reports due from Amazon.com Inc., Barclays Plc and Samsung Electronics Co. Deutsche Bank AG unveiled a surprisingly good earnings report, though it warned about looming credit defaults. The European Commission plans to announce capital-relief measures Tuesday to help keep loans flowing.“What’s very important is not to get overly comfortable with the pace of the equity markets in the last few weeks,” George Toubia, chief investment director at Westpac Private Wealth, said at a briefing in Sydney. “Given the market has run up a fair bit in the last few weeks, this is an environment to be far more selective.”On the virus front: a vaccine could be available as early as this year, according to a coalition funding nine projects. U.S. cases rose at the slowest pace this month, while states including Florida and Ohio took steps toward easing restrictions. Italy reported the lowest levels of new infections in seven weeks and prepared to begin reopening.These are the main moves in markets:StocksS&P 500 futures fell 0.2% as of 10:30 a.m. in Tokyo. The S&P 500 advanced 1.4% at the close of trade in New York.Japan’s Topix Index was down 0.4%.Australia’s S&P/ASX 200 Index rose 0.3%.Kospi index was little changed.Hong Kong’s Hang Seng Index climbed 0.5%.Shanghai Composite Index was up 0.2%.CurrenciesThe yen was at 107.27 per dollar, after appreciating 0.3%.The offshore yuan was little changed at 7.0902 per dollar.The euro traded at $1.0834.BondsThe yield on 10-year Treasuries was at 0.66% after increasing six basis points on Monday.Australian 10-year yields rose about three basis points to 0.94%.CommoditiesWest Texas Intermediate crude fell 8.4% to $11.70 a barrel after tanking 24% Monday.Gold dipped 0.5% to $1,705.25 an ounce.For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
https://finance.yahoo.com/news/asia-stocks-u-peers-higher-214804490.html?.tsrc=rss
