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Asian Stocks See Muted Trading After U.S. Records: Markets Wrap
(Bloomberg) -- Asian stocks were mixed in a subdued Friday session following further record highs on Wall Street, while sovereign bond yields retained this week’s modest gains.The dollar and Treasuries were little changed, while the U.S. yield curve remained at its steepest in more than a year -- underlining the impression of receding recession risks. Stocks dipped in Tokyo and Sydney, were little changed in Shanghai and edged up in Hong Kong and Seoul. U.S. futures were flat after benchmarks climbed Thursday, with investors shrugging off the impeachment of President Donald Trump. Oil slipped after recent gains.The impeachment hasn’t impaired work in Washington, with the Senate passing spending bills Thursday that will avoid a shutdown of the U.S. government. Meantime, Treasury Secretary Steven Mnuchin said on CNBC that phase one of the U.S.-China trade deal is going through a technical and legal review, and will be released and signed in early January. But after a 24% run-up in global equities this year, investors may need fresh catalysts to take benchmarks higher.“You have to be careful that there’s going to be, call it ‘no more trade issues,’” Nadine Terman, founder and head of Solstein Capital, said on Bloomberg TV. “How we’re positioning the portfolios is looking at what can do better than other things,” she said, referring to a strategy of picking sectors and countries rather than going all-in on an asset class.The pound is heading for its worst weekly decline in more than two years thanks to renewed concerns about a hard Brexit following moves by Prime Minister Boris Johnson to set a firm deadline of the end of 2020 for negotiating a trade deal with the European Union -- a timeline that observers say may be impractical.Here are some key events to watch for this week:Revised U.S. GDP data are due Friday.Friday also brings quadruple witching in the U.S., the simultaneous expiration date of stock index futures, stock index options, stock options and single stock futures. Expect elevated trading volume, particularly in the last hour of the session.These are the main moves in markets:StocksFutures on the S&P 500 Index were little changed as of 12:44 p.m. in Tokyo.Japan’s Topix was flat.Australia’s S&P/ASX 200 Index was down 0.3%.Hong Kong’s Hang Seng Index was up 0.3%.Shanghai Composite gained 0.2%.Kospi Index was up 0.4%.CurrenciesThe Japanese yen was flat at 109.34 per dollar.The offshore yuan was little changed at 7.059 per dollar.The euro rose was little changed at $1.1116.The British pound was flat at $1.3019.BondsThe yield on 10-year Treasuries held at 1.92%.Australian 10-year yields were at 1.31%.India’s 10-year yields rose the most in more than two months after the RBI initiated Operation Twist to cheapen long-term borrowings.CommoditiesWest Texas Intermediate crude slipped 0.1% to $61.11 a barrel.Gold was little changed at $1,478.28 an ounce.\--With assistance from Brett Miller and Paul Allen.To contact the reporter on this story: Christopher Anstey in Tokyo at canstey@bloomberg.netTo contact the editors responsible for this story: Christopher Anstey at canstey@bloomberg.net, Joanna Ossinger, Ravil ShirodkarFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
https://finance.yahoo.com/news/asian-stocks-seen-mixed-u-232717174.html?.tsrc=rss
(Bloomberg) -- Asian stocks were mixed in a subdued Friday session following further record highs on Wall Street, while sovereign bond yields retained this week’s modest gains.The dollar and Treasuries were little changed, while the U.S. yield curve remained at its steepest in more than a year -- underlining the impression of receding recession risks. Stocks dipped in Tokyo and Sydney, were little changed in Shanghai and edged up in Hong Kong and Seoul. U.S. futures were flat after benchmarks climbed Thursday, with investors shrugging off the impeachment of President Donald Trump. Oil slipped after recent gains.The impeachment hasn’t impaired work in Washington, with the Senate passing spending bills Thursday that will avoid a shutdown of the U.S. government. Meantime, Treasury Secretary Steven Mnuchin said on CNBC that phase one of the U.S.-China trade deal is going through a technical and legal review, and will be released and signed in early January. But after a 24% run-up in global equities this year, investors may need fresh catalysts to take benchmarks higher.“You have to be careful that there’s going to be, call it ‘no more trade issues,’” Nadine Terman, founder and head of Solstein Capital, said on Bloomberg TV. “How we’re positioning the portfolios is looking at what can do better than other things,” she said, referring to a strategy of picking sectors and countries rather than going all-in on an asset class.The pound is heading for its worst weekly decline in more than two years thanks to renewed concerns about a hard Brexit following moves by Prime Minister Boris Johnson to set a firm deadline of the end of 2020 for negotiating a trade deal with the European Union -- a timeline that observers say may be impractical.Here are some key events to watch for this week:Revised U.S. GDP data are due Friday.Friday also brings quadruple witching in the U.S., the simultaneous expiration date of stock index futures, stock index options, stock options and single stock futures. Expect elevated trading volume, particularly in the last hour of the session.These are the main moves in markets:StocksFutures on the S&P 500 Index were little changed as of 12:44 p.m. in Tokyo.Japan’s Topix was flat.Australia’s S&P/ASX 200 Index was down 0.3%.Hong Kong’s Hang Seng Index was up 0.3%.Shanghai Composite gained 0.2%.Kospi Index was up 0.4%.CurrenciesThe Japanese yen was flat at 109.34 per dollar.The offshore yuan was little changed at 7.059 per dollar.The euro rose was little changed at $1.1116.The British pound was flat at $1.3019.BondsThe yield on 10-year Treasuries held at 1.92%.Australian 10-year yields were at 1.31%.India’s 10-year yields rose the most in more than two months after the RBI initiated Operation Twist to cheapen long-term borrowings.CommoditiesWest Texas Intermediate crude slipped 0.1% to $61.11 a barrel.Gold was little changed at $1,478.28 an ounce.\--With assistance from Brett Miller and Paul Allen.To contact the reporter on this story: Christopher Anstey in Tokyo at canstey@bloomberg.netTo contact the editors responsible for this story: Christopher Anstey at canstey@bloomberg.net, Joanna Ossinger, Ravil ShirodkarFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
https://finance.yahoo.com/news/asian-stocks-seen-mixed-u-232717174.html?.tsrc=rss
