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Asia Stocks Trade Mixed; Dollar Dips, Bonds Steady: Markets Wrap
(Bloomberg) -- Asian stocks were mixed Friday amid signs of fragility in the U.S. tech rally and ongoing Sino-American tensions. The dollar dipped.Shares slipped in Japan and Australia, while South Korea and Hong Kong saw modest gains. Chinese equities opened flat after Thursday’s plunge as investors assess moves by policy makers to tame signs of exuberance. Netflix Inc. earnings earlier knocked confidence in high-flying technology stocks, weighing on exchange-traded funds tracking U.S. shares. Nasdaq and S&P 500 futures edged up though still remained below levels seen prior to the Netflix release. Treasuries held modest gains in the wake of mixed U.S. employment data.Economic data from the U.S. and China this week underscored the long road ahead to a full global recovery, sapping optimism spurred by progress in developing a coronavirus vaccine. “Data released over the last 24 hours seriously questions the speed of any post-Covid-19 economic recovery,” said Michael McCarthy, chief market strategist at CMC Markets in Sydney. “The numbers illustrate the economic challenges posed by secondary infection outbreaks.”Elsewhere, oil traded flat along with gold.These are the main moves in markets:StocksFutures on the S&P 500 added 0.3% as of 10:22 a.m. in Tokyo. The index slipped 0.3% on Thursday.Japan’s Topix index slid 0.3%.Hong Kong’s Hang Seng rose 0.7%.The Shanghai Composite added 0.1%.South Korea’s Kospi index rose 0.5%.Australia’s S&P/ASX 200 Index slipped 0.1%.Euro Stoxx 50 futures advanced 0.2%.CurrenciesThe yen was at 107.26 per dollar, little changed.The offshore yuan traded at 6.9963 per dollar.The euro bought $1.1382.BondsThe yield on 10-year Treasuries remained at 0.62%.Australia’s 10-year yield slipped one basis point to 0.87%.CommoditiesWest Texas Intermediate crude oil slid 0.1% to $40.73 a barrel.Gold was at $1,796.98 an ounce, little changed.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-set-muted-start-222655209.html?.tsrc=rss
(Bloomberg) -- Asian stocks were mixed Friday amid signs of fragility in the U.S. tech rally and ongoing Sino-American tensions. The dollar dipped.Shares slipped in Japan and Australia, while South Korea and Hong Kong saw modest gains. Chinese equities opened flat after Thursday’s plunge as investors assess moves by policy makers to tame signs of exuberance. Netflix Inc. earnings earlier knocked confidence in high-flying technology stocks, weighing on exchange-traded funds tracking U.S. shares. Nasdaq and S&P 500 futures edged up though still remained below levels seen prior to the Netflix release. Treasuries held modest gains in the wake of mixed U.S. employment data.Economic data from the U.S. and China this week underscored the long road ahead to a full global recovery, sapping optimism spurred by progress in developing a coronavirus vaccine. “Data released over the last 24 hours seriously questions the speed of any post-Covid-19 economic recovery,” said Michael McCarthy, chief market strategist at CMC Markets in Sydney. “The numbers illustrate the economic challenges posed by secondary infection outbreaks.”Elsewhere, oil traded flat along with gold.These are the main moves in markets:StocksFutures on the S&P 500 added 0.3% as of 10:22 a.m. in Tokyo. The index slipped 0.3% on Thursday.Japan’s Topix index slid 0.3%.Hong Kong’s Hang Seng rose 0.7%.The Shanghai Composite added 0.1%.South Korea’s Kospi index rose 0.5%.Australia’s S&P/ASX 200 Index slipped 0.1%.Euro Stoxx 50 futures advanced 0.2%.CurrenciesThe yen was at 107.26 per dollar, little changed.The offshore yuan traded at 6.9963 per dollar.The euro bought $1.1382.BondsThe yield on 10-year Treasuries remained at 0.62%.Australia’s 10-year yield slipped one basis point to 0.87%.CommoditiesWest Texas Intermediate crude oil slid 0.1% to $40.73 a barrel.Gold was at $1,796.98 an ounce, little changed.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-set-muted-start-222655209.html?.tsrc=rss
