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Asian Stocks Trade Mixed After Wall Street Rebound: Markets Wrap
(Bloomberg) -- Asian stocks saw mixed trading Wednesday after a rebound on Wall Street, with investors continuing to mull the economic dangers from the spreading coronavirus.Hong Kong’s Hang Seng dropped about 2.5% as markets reopened Wednesday, with the city’s stocks catching up to the global slide since last week. China futures advanced. U.S. equity futures ticked up as a senior Trump administration official said the White House didn’t call airlines and has not asked for a suspension of flights between the U.S. and China. Treasuries were flat after retreating on Tuesday. Shares rose in South Korea, Australia and Japan. Apple Inc. rose in after-hours trading after its sales forecast topped estimates. The offshore yuan continued to trade stronger than 7 per dollar after recent declines.Equities are showing signs of stabilizing after a slide that wiped about $1.5 trillion off the value of world stocks since Jan. 20. With earnings continuing to roll in, investors are looking for signs of how the disease is affecting operations in China. More than 5,974 people have been infected in China and at least 132 have died.“We are seeing economic data points that support this continued recovery,” Susan Schmidt, a fund manager at Aviva Investors, told Bloomberg TV. “The coronavirus might have tamped that down just a bit, but overall management teams are coming back and giving a pretty positive outlook and feeling confident about their businesses.”Elsewhere, oil rose after suffering from heavy declines in the wake of the coronavirus spreading.Here are some events to watch out for this week:Wednesday brings reports from GE, Boeing and Facebook; Samsung Electronics, International Paper, Unilever and Shell report on Thursday, followed by South Korean chip maker SK Hynix, Chevron, Caterpillar and Exxon Mobil all on Friday.Federal Reserve policy makers on Wednesday are expected to open 2020 the same way they closed 2019 -- by holding rates steady.Goldman Sachs will hold its first-ever Investor Day on Wednesday.The Bank of England meeting on Thursday is highly anticipated after a series of dovish comments raised speculation policy makers could lower interest rates.The U.S. reports fourth-quarter GDP Thursday.The U.K. is scheduled to leave the European Union Friday.These are the main moves in markets:StocksJapan’s Topix index added 0.2% as of the lunch break in Tokyo.FTSE China A50 futures rose 1.5%.Hong Kong’s Hang Seng dropped 2.5%.Australia’s S&P/ASX 200 Index climbed 0.6%.South Korea’s Kospi index added 0.5%.Futures on the S&P 500 added 0.2%. The index rose 1% on Tuesday.CurrenciesThe yen traded flat at 109.20 per dollar.The offshore yuan was at 6.9618 per dollar.The Bloomberg Dollar Spot Index slipped less than 0.1%.The euro bought $1.1015, little changed.BondsThe yield on 10-year Treasuries remained at 1.66%.Australia’s 10-year yield advanced seven basis points to 1.02%.CommoditiesWest Texas Intermediate crude rose 1% to $54.03 a barrel.Gold slid 0.1% to $1,565.30 an ounce.To contact the reporters on this story: Adam Haigh in Sydney at ahaigh1@bloomberg.net;Andreea Papuc in Sydney at apapuc1@bloomberg.netTo contact the editors responsible for this story: Christopher Anstey at canstey@bloomberg.net, Joanna OssingerFor 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-climb-u-231209572.html?.tsrc=rss
(Bloomberg) -- Asian stocks saw mixed trading Wednesday after a rebound on Wall Street, with investors continuing to mull the economic dangers from the spreading coronavirus.Hong Kong’s Hang Seng dropped about 2.5% as markets reopened Wednesday, with the city’s stocks catching up to the global slide since last week. China futures advanced. U.S. equity futures ticked up as a senior Trump administration official said the White House didn’t call airlines and has not asked for a suspension of flights between the U.S. and China. Treasuries were flat after retreating on Tuesday. Shares rose in South Korea, Australia and Japan. Apple Inc. rose in after-hours trading after its sales forecast topped estimates. The offshore yuan continued to trade stronger than 7 per dollar after recent declines.Equities are showing signs of stabilizing after a slide that wiped about $1.5 trillion off the value of world stocks since Jan. 20. With earnings continuing to roll in, investors are looking for signs of how the disease is affecting operations in China. More than 5,974 people have been infected in China and at least 132 have died.“We are seeing economic data points that support this continued recovery,” Susan Schmidt, a fund manager at Aviva Investors, told Bloomberg TV. “The coronavirus might have tamped that down just a bit, but overall management teams are coming back and giving a pretty positive outlook and feeling confident about their businesses.”Elsewhere, oil rose after suffering from heavy declines in the wake of the coronavirus spreading.Here are some events to watch out for this week:Wednesday brings reports from GE, Boeing and Facebook; Samsung Electronics, International Paper, Unilever and Shell report on Thursday, followed by South Korean chip maker SK Hynix, Chevron, Caterpillar and Exxon Mobil all on Friday.Federal Reserve policy makers on Wednesday are expected to open 2020 the same way they closed 2019 -- by holding rates steady.Goldman Sachs will hold its first-ever Investor Day on Wednesday.The Bank of England meeting on Thursday is highly anticipated after a series of dovish comments raised speculation policy makers could lower interest rates.The U.S. reports fourth-quarter GDP Thursday.The U.K. is scheduled to leave the European Union Friday.These are the main moves in markets:StocksJapan’s Topix index added 0.2% as of the lunch break in Tokyo.FTSE China A50 futures rose 1.5%.Hong Kong’s Hang Seng dropped 2.5%.Australia’s S&P/ASX 200 Index climbed 0.6%.South Korea’s Kospi index added 0.5%.Futures on the S&P 500 added 0.2%. The index rose 1% on Tuesday.CurrenciesThe yen traded flat at 109.20 per dollar.The offshore yuan was at 6.9618 per dollar.The Bloomberg Dollar Spot Index slipped less than 0.1%.The euro bought $1.1015, little changed.BondsThe yield on 10-year Treasuries remained at 1.66%.Australia’s 10-year yield advanced seven basis points to 1.02%.CommoditiesWest Texas Intermediate crude rose 1% to $54.03 a barrel.Gold slid 0.1% to $1,565.30 an ounce.To contact the reporters on this story: Adam Haigh in Sydney at ahaigh1@bloomberg.net;Andreea Papuc in Sydney at apapuc1@bloomberg.netTo contact the editors responsible for this story: Christopher Anstey at canstey@bloomberg.net, Joanna OssingerFor 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-climb-u-231209572.html?.tsrc=rss
