NewsFeeder
Headline News
- Reaction score
- 3
Asia Stocks Trade Mixed; Treasuries Rally Stalls: Markets Wrap
(Bloomberg) -- Stocks in Asia were mixed after the Federal Reserve indicated that it’s unlikely to move in either direction on policy any time soon following its latest interest-rate cut, while corporate results continued to roll in. Gains in Treasuries petered out.Shares were little changed in Tokyo, where the Bank of Japan dropped its time frame for forward rate guidance. The yen fluctuated. Stocks gained in Seoul after earnings at Samsung Electronics Co. topped estimates. The S&P 500 earlier edged up to a fresh-all time high when Fed Chairman Jerome Powell signaled it would take a significant and persistent move up in inflation to consider raising rates. Nasdaq futures rose as Apple Inc. projected sales that beat expectations. The offshore yuan shrugged off a poor China manufacturing PMI, while stocks were flat in Shanghai and rose in Hong Kong. The dollar dipped.Fed officials cut rates a quarter-percentage point for the third time this year and signaled a pause unless the outlook changes materially. Up in the air remains the next step in the trade war, after Chile canceled next month’s APEC meeting -- where the U.S. and China intended to sign a partial trade pact. Earnings continue to roll on, while data on U.S. GDP and private hiring topped estimates.“It’s been a good day and a good year for markets from the equities side, but the question is: what’s the economy going to do?” Shawn Matthews, founder and CIO at Hondius Capital, said to Bloomberg TV. “There’s been a disconnect for a while between financial assets and the economy.”Meanwhile, the BOJ maintained its 10-year yield target at about zero percent after ending a two-day meeting on Thursday. The central bank said it would keep rates low or lower, dropping its time frame for forward guidance.Here are some key events coming up this week:Earnings include: Mitsubishi Heavy on Thursday; Exxon Mobil and Macquarie Group on Friday.The Fed’s preferred inflation metric, the core PCE deflator, is due Thursday.Bank of Japan Governor Haruhiko Kuroda will hold a news conference Thursday.Friday brings the monthly U.S. non-farm payrolls report.These are some of the main moves in markets:StocksJapan’s Topix index was little changed as of 12:37 p.m. in Tokyo.South Korea’s Kospi index added 1%.Australia’s S&P/ASX 200 Index slid 0.5%.Hang Seng Index rose 1.1%Shanghai Composite fell 0.1%.Futures on the S&P 500 Index were flat. The underlying gauge rose 0.3% on Wednesday.CurrenciesThe yen rose 0.2% to 108.68 per dollar.The offshore yuan traded at 7.0406 per dollar after climbing 0.3% Wednesday.The Bloomberg Dollar Spot Index dipped 0.2%.The euro rose 0.1% to $1.1166.BondsThe yield on 10-year Treasuries was at 1.78%.Australia’s 10-year yield was little changed at 1.14%.CommoditiesGold was at $1,497 an ounce.West Texas Intermediate crude was up 0.3% at $55.20 a barrel.\--With assistance from Jeremy Herron, Vildana Hajric and Sarah Ponczek.To contact the reporter on this story: Adam Haigh in Sydney at ahaigh1@bloomberg.netTo contact the editors responsible for this story: Christopher Anstey at canstey@bloomberg.net, Andreea Papuc, Joanna OssingerFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
https://finance.yahoo.com/news/asia-stocks-look-gain-treasuries-214323358.html?.tsrc=rss
(Bloomberg) -- Stocks in Asia were mixed after the Federal Reserve indicated that it’s unlikely to move in either direction on policy any time soon following its latest interest-rate cut, while corporate results continued to roll in. Gains in Treasuries petered out.Shares were little changed in Tokyo, where the Bank of Japan dropped its time frame for forward rate guidance. The yen fluctuated. Stocks gained in Seoul after earnings at Samsung Electronics Co. topped estimates. The S&P 500 earlier edged up to a fresh-all time high when Fed Chairman Jerome Powell signaled it would take a significant and persistent move up in inflation to consider raising rates. Nasdaq futures rose as Apple Inc. projected sales that beat expectations. The offshore yuan shrugged off a poor China manufacturing PMI, while stocks were flat in Shanghai and rose in Hong Kong. The dollar dipped.Fed officials cut rates a quarter-percentage point for the third time this year and signaled a pause unless the outlook changes materially. Up in the air remains the next step in the trade war, after Chile canceled next month’s APEC meeting -- where the U.S. and China intended to sign a partial trade pact. Earnings continue to roll on, while data on U.S. GDP and private hiring topped estimates.“It’s been a good day and a good year for markets from the equities side, but the question is: what’s the economy going to do?” Shawn Matthews, founder and CIO at Hondius Capital, said to Bloomberg TV. “There’s been a disconnect for a while between financial assets and the economy.”Meanwhile, the BOJ maintained its 10-year yield target at about zero percent after ending a two-day meeting on Thursday. The central bank said it would keep rates low or lower, dropping its time frame for forward guidance.Here are some key events coming up this week:Earnings include: Mitsubishi Heavy on Thursday; Exxon Mobil and Macquarie Group on Friday.The Fed’s preferred inflation metric, the core PCE deflator, is due Thursday.Bank of Japan Governor Haruhiko Kuroda will hold a news conference Thursday.Friday brings the monthly U.S. non-farm payrolls report.These are some of the main moves in markets:StocksJapan’s Topix index was little changed as of 12:37 p.m. in Tokyo.South Korea’s Kospi index added 1%.Australia’s S&P/ASX 200 Index slid 0.5%.Hang Seng Index rose 1.1%Shanghai Composite fell 0.1%.Futures on the S&P 500 Index were flat. The underlying gauge rose 0.3% on Wednesday.CurrenciesThe yen rose 0.2% to 108.68 per dollar.The offshore yuan traded at 7.0406 per dollar after climbing 0.3% Wednesday.The Bloomberg Dollar Spot Index dipped 0.2%.The euro rose 0.1% to $1.1166.BondsThe yield on 10-year Treasuries was at 1.78%.Australia’s 10-year yield was little changed at 1.14%.CommoditiesGold was at $1,497 an ounce.West Texas Intermediate crude was up 0.3% at $55.20 a barrel.\--With assistance from Jeremy Herron, Vildana Hajric and Sarah Ponczek.To contact the reporter on this story: Adam Haigh in Sydney at ahaigh1@bloomberg.netTo contact the editors responsible for this story: Christopher Anstey at canstey@bloomberg.net, Andreea Papuc, Joanna OssingerFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
https://finance.yahoo.com/news/asia-stocks-look-gain-treasuries-214323358.html?.tsrc=rss
