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Asian Stocks Take Breather After Rally; Bonds Flat: Markets Wrap
(Bloomberg) -- Asian stocks were mixed Wednesday as investors took a breather after the partial U.S.-China trade deal that sent global equities to record highs. Treasuries were flat.Shares dipped in Tokyo, edged up in Sydney and were flat in Seoul. Hong Kong and Shanghai were little changed, while the yuan ticked lower, after China’s central bank mounted a liquidity injection. U.S. futures were lifeless after the S&P 500 Index closed just one index point higher at a new record, after positive U.S. factory and housing data. The pound extended losses after tumbling Tuesday on renewed concerns about a no-deal Brexit.With global stocks around all-time highs, and the U.S.-China trade accord announced Friday yet to be signed, there was little reason for traders to bid prices higher. Meantime, two Federal Reserve policy makers reiterated that interest rates are on hold unless there’s a material change in the outlook.“We are a little bit cautious going into 2020, not getting too carried away with the optimism that the equity markets are displaying right now,” said Susan Buckley, managing director of global liquid strategies at QIC Ltd. “We are still looking at an outlook of slow growth in 2020.”Elsewhere, West Texas intermediate crude pulled back after touching $61 a barrel for the first time in three months. Bitcoin’s woes continued, as the digital currency languished below $7,000.Here are some key events to watch for this week
olicy decisions are due Thursday from the Bank of Japan and the Bank of England.Revised U.S. GDP data are due Friday.Friday 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 trading.These are the main moves in markets:StocksTopix index fell 0.4% as of 1:06 p.m. in Tokyo.Australia’s S&P/ASX 200 Index rose 0.2%.South Korea’s Kospi index was flat.Hong Kong’s Hang Seng Index was flat.Shanghai Composite Index was little changed.S&P 500 futures were flat. The S&P 500 Index gained 0.03%.Euro Stoxx 50 contracts were flat.CurrenciesThe Japanese yen was little changed at 109.45 per dollar.The offshore yuan traded at 7.0052 per dollar, down 0.1%.The euro was little changed at $1.1133.The British pound fell 0.3% to $1.3103 after sinking 1.5% Tuesday.BondsThe yield on 10-year Treasuries held at 1.88%.Australia’s 10-year bond yield rose three basis points to 1.19%.CommoditiesWest Texas Intermediate crude fell 0.7% to $60.53 a barrel.Gold was at $1,476.77 an ounce.To contact the reporter on this story: Andreea Papuc in Sydney at apapuc1@bloomberg.netTo contact the editor responsible for this story: Christopher Anstey at canstey@bloomberg.netFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
https://finance.yahoo.com/news/asia-stocks-set-mixed-start-230914746.html?.tsrc=rss
(Bloomberg) -- Asian stocks were mixed Wednesday as investors took a breather after the partial U.S.-China trade deal that sent global equities to record highs. Treasuries were flat.Shares dipped in Tokyo, edged up in Sydney and were flat in Seoul. Hong Kong and Shanghai were little changed, while the yuan ticked lower, after China’s central bank mounted a liquidity injection. U.S. futures were lifeless after the S&P 500 Index closed just one index point higher at a new record, after positive U.S. factory and housing data. The pound extended losses after tumbling Tuesday on renewed concerns about a no-deal Brexit.With global stocks around all-time highs, and the U.S.-China trade accord announced Friday yet to be signed, there was little reason for traders to bid prices higher. Meantime, two Federal Reserve policy makers reiterated that interest rates are on hold unless there’s a material change in the outlook.“We are a little bit cautious going into 2020, not getting too carried away with the optimism that the equity markets are displaying right now,” said Susan Buckley, managing director of global liquid strategies at QIC Ltd. “We are still looking at an outlook of slow growth in 2020.”Elsewhere, West Texas intermediate crude pulled back after touching $61 a barrel for the first time in three months. Bitcoin’s woes continued, as the digital currency languished below $7,000.Here are some key events to watch for this week
olicy decisions are due Thursday from the Bank of Japan and the Bank of England.Revised U.S. GDP data are due Friday.Friday 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 trading.These are the main moves in markets:StocksTopix index fell 0.4% as of 1:06 p.m. in Tokyo.Australia’s S&P/ASX 200 Index rose 0.2%.South Korea’s Kospi index was flat.Hong Kong’s Hang Seng Index was flat.Shanghai Composite Index was little changed.S&P 500 futures were flat. The S&P 500 Index gained 0.03%.Euro Stoxx 50 contracts were flat.CurrenciesThe Japanese yen was little changed at 109.45 per dollar.The offshore yuan traded at 7.0052 per dollar, down 0.1%.The euro was little changed at $1.1133.The British pound fell 0.3% to $1.3103 after sinking 1.5% Tuesday.BondsThe yield on 10-year Treasuries held at 1.88%.Australia’s 10-year bond yield rose three basis points to 1.19%.CommoditiesWest Texas Intermediate crude fell 0.7% to $60.53 a barrel.Gold was at $1,476.77 an ounce.To contact the reporter on this story: Andreea Papuc in Sydney at apapuc1@bloomberg.netTo contact the editor responsible for this story: Christopher Anstey at canstey@bloomberg.netFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.https://finance.yahoo.com/news/asia-stocks-set-mixed-start-230914746.html?.tsrc=rss
