NewsFeeder
Headline News
Asian Stocks Rise, Bonds Slip With Trade in Focus: Markets Wrap
(Bloomberg) -- Asian stocks pushed higher on Tuesday after further records on Wall Street overnight, spurred by signs the U.S. and China are inching toward a trade deal. Treasuries extended declines.Shares outperformed in Tokyo after a holiday Monday, and were higher in Sydney, Shanghai and Hong Kong. Earlier, the Dow Jones Industrial Average claimed its first all-time high since July, and the S&P 500 and Nasdaq indexes also hit records. The yen slipped on the risk-on mood, while Australian bonds dropped. European equity futures climbed.Investors are looking for confirmation the U.S. and China are closer to a trade deal with global equities already sitting on a 19% year-to-date gain. The Financial Times reported that the U.S. was debating whether to roll back levies on $112 billion of Chinese imports. Meanwhile, China is reviewing locations in the U.S. where President Xi Jinping would be willing to meet with President Donald Trump to sign the first phase of a trade deal between the world’s two-largest economies, people familiar with the plans said.“The sweet spot for global equities looks even more pronounced,” Chris Weston, head of research at Pepperstone Group Ltd., said in a note Tuesday. “The current debate is not whether you are bullish, but whether there is too much short-term euphoria. At some stage valuation will matter, or at least cap the upside.”Meantime, markets got some support after China’s central bank reduced the cost of one-year funds to banks for the first time since 2016, easing concerns about tightening liquidity.Elsewhere, the Australian dollar increased with bond yields after the central bank left interest rates unchanged. Bank of Japan Governor Haruhiko Kuroda said extra fiscal spending would be more effective than usual because the central bank can keep interest rates low with its yield-curve-control program.Here are some key events coming up this week:Earnings are due from companies including: Singapore Airlines on Tuesday; SoftBank and BMW on Wednesday; Walt Disney, Toyota, Deutsche Telekom on Thursday.Regional Federal Reserve presidents including Charles Evans, John Williams and Patrick Harker speak at events on Wednesday.Bank of England monetary decision Thursday.The USDA World Agricultural Supply and Demand Estimates Report for November comes out FridayThese are the main moves in markets:StocksThe MSCI Asia Pacific Index rose 0.8% as of 2 p.m. in Tokyo.Japan’s Topix index rose 1.8%.Australia’s S&P/ASX 200 Index rose 0.3%.South Korea’s Kospi index added 0.5%.Hang Seng Index gained 0.5%.Shanghai Composite Index rose 0.7%.S&P 500 futures rose 0.2%. The S&P 500 Index rose 0.4%.Euro Stoxx 50 contracts gained 0.3%.CurrenciesThe yen dipped 0.2% to 108.79 per dollar.The offshore yuan traded at 7.0219 per dollar, up 0.2%.Bloomberg Dollar Spot Index was flat.The euro was flat at $1.1124.The British pound traded at $1.2880, little changed.BondsThe yield on 10-year Treasuries rose two basis points to 1.80%.Australian 10-year bond yields gained three basis points to 1.21%.CommoditiesWest Texas Intermediate crude was steady at $56.51 a barrel.Gold weakened 0.3% to $1,505.86 an ounce.To contact the reporter on this story: Andreea Papuc in Sydney at apapuc1@bloomberg.netTo contact the editors responsible for this story: Christopher Anstey at canstey@bloomberg.net, Joanna Ossinger, Cormac MullenFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
https://finance.yahoo.com/news/asia-stocks-rise-u-records-214308270.html?.tsrc=rss
(Bloomberg) -- Asian stocks pushed higher on Tuesday after further records on Wall Street overnight, spurred by signs the U.S. and China are inching toward a trade deal. Treasuries extended declines.Shares outperformed in Tokyo after a holiday Monday, and were higher in Sydney, Shanghai and Hong Kong. Earlier, the Dow Jones Industrial Average claimed its first all-time high since July, and the S&P 500 and Nasdaq indexes also hit records. The yen slipped on the risk-on mood, while Australian bonds dropped. European equity futures climbed.Investors are looking for confirmation the U.S. and China are closer to a trade deal with global equities already sitting on a 19% year-to-date gain. The Financial Times reported that the U.S. was debating whether to roll back levies on $112 billion of Chinese imports. Meanwhile, China is reviewing locations in the U.S. where President Xi Jinping would be willing to meet with President Donald Trump to sign the first phase of a trade deal between the world’s two-largest economies, people familiar with the plans said.“The sweet spot for global equities looks even more pronounced,” Chris Weston, head of research at Pepperstone Group Ltd., said in a note Tuesday. “The current debate is not whether you are bullish, but whether there is too much short-term euphoria. At some stage valuation will matter, or at least cap the upside.”Meantime, markets got some support after China’s central bank reduced the cost of one-year funds to banks for the first time since 2016, easing concerns about tightening liquidity.Elsewhere, the Australian dollar increased with bond yields after the central bank left interest rates unchanged. Bank of Japan Governor Haruhiko Kuroda said extra fiscal spending would be more effective than usual because the central bank can keep interest rates low with its yield-curve-control program.Here are some key events coming up this week:Earnings are due from companies including: Singapore Airlines on Tuesday; SoftBank and BMW on Wednesday; Walt Disney, Toyota, Deutsche Telekom on Thursday.Regional Federal Reserve presidents including Charles Evans, John Williams and Patrick Harker speak at events on Wednesday.Bank of England monetary decision Thursday.The USDA World Agricultural Supply and Demand Estimates Report for November comes out FridayThese are the main moves in markets:StocksThe MSCI Asia Pacific Index rose 0.8% as of 2 p.m. in Tokyo.Japan’s Topix index rose 1.8%.Australia’s S&P/ASX 200 Index rose 0.3%.South Korea’s Kospi index added 0.5%.Hang Seng Index gained 0.5%.Shanghai Composite Index rose 0.7%.S&P 500 futures rose 0.2%. The S&P 500 Index rose 0.4%.Euro Stoxx 50 contracts gained 0.3%.CurrenciesThe yen dipped 0.2% to 108.79 per dollar.The offshore yuan traded at 7.0219 per dollar, up 0.2%.Bloomberg Dollar Spot Index was flat.The euro was flat at $1.1124.The British pound traded at $1.2880, little changed.BondsThe yield on 10-year Treasuries rose two basis points to 1.80%.Australian 10-year bond yields gained three basis points to 1.21%.CommoditiesWest Texas Intermediate crude was steady at $56.51 a barrel.Gold weakened 0.3% to $1,505.86 an ounce.To contact the reporter on this story: Andreea Papuc in Sydney at apapuc1@bloomberg.netTo contact the editors responsible for this story: Christopher Anstey at canstey@bloomberg.net, Joanna Ossinger, Cormac MullenFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
https://finance.yahoo.com/news/asia-stocks-rise-u-records-214308270.html?.tsrc=rss
