NewsFeeder
Headline News
Asian Stocks Mixed Amid Ongoing Virus Concern: Markets Wrap
(Bloomberg) -- Asian stocks were mixed in a lackluster session as investors mulled updates on the deadly coronavirus outbreak. Oil steadied after its recent slide.Shares were little changed in Tokyo, while Hong Kong and Sydney ticked higher. U.S. stock futures were steady after the S&P 500 eked out a small advance helped by gains for big tech companies. As officials in China widened their travel ban beyond the epicenter of the outbreak, the World Health Organization stopped short of calling the virus a global health emergency, saying it remains a local crisis. The yuan edged up while the yen held Thursday’s rise. Treasuries were little changed.Markets in mainland China and South Korea are shut, and Hong Kong closed early, for lunar new year holidays.While investors remain cautious with global stocks trading close to all-time highs, corporate earnings are topping expectations and slew of data this month has validated forecasts for a recovery in the global economy. Still, traders remain cognizant of the chance the virus develops into a more devastating pandemic like the SARS illness that emerged in China 17 years ago.“The scare should eventually prove to be a buying opportunity, but the market would first need evidence that the situation is stabilizing,” wrote Citgroup Inc. emerging market strategists including Dirk Willer in a note Thursday. “In spite of the Chinese authorities being more open and proactive this time, we are probably closer to the beginning than to the end of the outbreak.”Concerns about the virus has also taken some steam out of Asia’s dollar bond market, with the spread on the notes widening about 9 basis points through Thursday, set for the worst week since August, according to a Bloomberg Barclays index.Elsewhere, the euro held losses seen in wake of a suggestion from policy makers that they will need to maintain ultra-loose stimulus settings for the foreseeable future.These are the main moves in markets:StocksFutures on the S&P 500 Index added 0.1% as of 1:34 p.m. in Tokyo. The underlying gauge rose 0.1% on Thursday.Japan’s Topix index was little changed.Hong Kong’s Hang Seng rose 0.2%.Australia’s S&P/ASX 200 Index gained 0.2%.Euro Stoxx 50 futures advanced 0.7%.CurrenciesThe yen was at 109.54 per dollar, little changed.The offshore yuan rose 0.1% to 6.9232 per dollar.The euro bought $1.1051, little changed.BondsThe yield on 10-year Treasuries stayed at 1.74%.Australia’s 10-year yield dipped two basis points to 1.08%.CommoditiesWest Texas Intermediate crude oil added 0.4% to $55.8 a barrel.Gold dipped 0.1% to $1,561.84 an ounce.\--With assistance from David Wilson.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, Ravil ShirodkarFor 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/asian-stock-futures-mixed-amid-232328531.html?.tsrc=rss
(Bloomberg) -- Asian stocks were mixed in a lackluster session as investors mulled updates on the deadly coronavirus outbreak. Oil steadied after its recent slide.Shares were little changed in Tokyo, while Hong Kong and Sydney ticked higher. U.S. stock futures were steady after the S&P 500 eked out a small advance helped by gains for big tech companies. As officials in China widened their travel ban beyond the epicenter of the outbreak, the World Health Organization stopped short of calling the virus a global health emergency, saying it remains a local crisis. The yuan edged up while the yen held Thursday’s rise. Treasuries were little changed.Markets in mainland China and South Korea are shut, and Hong Kong closed early, for lunar new year holidays.While investors remain cautious with global stocks trading close to all-time highs, corporate earnings are topping expectations and slew of data this month has validated forecasts for a recovery in the global economy. Still, traders remain cognizant of the chance the virus develops into a more devastating pandemic like the SARS illness that emerged in China 17 years ago.“The scare should eventually prove to be a buying opportunity, but the market would first need evidence that the situation is stabilizing,” wrote Citgroup Inc. emerging market strategists including Dirk Willer in a note Thursday. “In spite of the Chinese authorities being more open and proactive this time, we are probably closer to the beginning than to the end of the outbreak.”Concerns about the virus has also taken some steam out of Asia’s dollar bond market, with the spread on the notes widening about 9 basis points through Thursday, set for the worst week since August, according to a Bloomberg Barclays index.Elsewhere, the euro held losses seen in wake of a suggestion from policy makers that they will need to maintain ultra-loose stimulus settings for the foreseeable future.These are the main moves in markets:StocksFutures on the S&P 500 Index added 0.1% as of 1:34 p.m. in Tokyo. The underlying gauge rose 0.1% on Thursday.Japan’s Topix index was little changed.Hong Kong’s Hang Seng rose 0.2%.Australia’s S&P/ASX 200 Index gained 0.2%.Euro Stoxx 50 futures advanced 0.7%.CurrenciesThe yen was at 109.54 per dollar, little changed.The offshore yuan rose 0.1% to 6.9232 per dollar.The euro bought $1.1051, little changed.BondsThe yield on 10-year Treasuries stayed at 1.74%.Australia’s 10-year yield dipped two basis points to 1.08%.CommoditiesWest Texas Intermediate crude oil added 0.4% to $55.8 a barrel.Gold dipped 0.1% to $1,561.84 an ounce.\--With assistance from David Wilson.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, Ravil ShirodkarFor 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/asian-stock-futures-mixed-amid-232328531.html?.tsrc=rss
