NewsFeeder
Headline News
China’s Stocks Fluctuate; U.S. Futures Advance: Markets Wrap
(Bloomberg) -- China’s stocks fluctuated after plunging on Monday, while most Asian equities rose with U.S. futures as investors gauged efforts to contain the coronavirus and awaited potential responses from policy makers.In a wild start to trading Tuesday, Chinese equities tumbled more than 2%, then recouped all that loss within minutes. South Korean shares outperformed in Asia, with Hong Kong, Japanese and Australian benchmarks seeing more modest gains. Oil recovered a slice of recent losses, and traded back above $50 per barrel. U.S. Treasury yields also edged up, while the dollar was flat.China earlier set the daily yuan fixing at stronger than 7 per dollar, a sign of support for the exchange rate, though it continued to trade weaker than that level offshore. Analysts are anticipating a series of measures to support economic growth as the hit to the country mounts. In the latest tally, China said its total death toll from the virus stood at 425 and cases rose to more than 20,000.“We feel like the world is moving under our feet because the probability of containment, looking at statistics daily, is a little bit of a fool’s errand,” Richard Lacaille, chief investment officer at State Street Global Advisors.Meanwhile, traders will also be watching the results of the Iowa Caucuses, as the 2020 Democratic presidential race kicks off. The Australian dollar ticked higher after the central bank keep interest rates unchanged as expected.Here are some key events coming up:The Iowa caucuses are Monday, the first contest to choose a Democratic nominee to run against Donald Trump in November.Tuesday brings a policy decision from the Reserve Bank of Australia, and the Reserve Bank of India’s interest rate decision is due Thursday.Friday has the U.S. employment report for January.These are the main moves in markets:StocksThe MSCI Asia Pacific Index rose 0.9% as of 12:32 p.m. in Tokyo.Topix index rose 0.4%.Australia’s S&P/ASX 200 Index rose 0.5%.South Korea’s Kospi index rose 1.4%.Hong Kong’s Hang Seng Index rose 0.9%.Shanghai Composite Index rose 0.2% after dropping as much as 2.2%S&P 500 futures rose 0.4%. The S&P 500 closed 0.7% higher Monday.CurrenciesThe yen was at 108.66 per dollar, little changed.The offshore yuan rose 0.1% to 7.0056 per dollar.The euro traded flat at $1.1063.BondsThe yield on 10-year Treasuries edged up to 1.53%.Australia’s 10-year bond yield fell two basis points to 0.92%.CommoditiesWest Texas Intermediate crude rose 0.6% to $50.42 a barrel.Gold was little changed at $1,577 an ounce.\--With assistance from Claire Ballentine.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 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-stocks-set-mixed-start-215610911.html?.tsrc=rss
(Bloomberg) -- China’s stocks fluctuated after plunging on Monday, while most Asian equities rose with U.S. futures as investors gauged efforts to contain the coronavirus and awaited potential responses from policy makers.In a wild start to trading Tuesday, Chinese equities tumbled more than 2%, then recouped all that loss within minutes. South Korean shares outperformed in Asia, with Hong Kong, Japanese and Australian benchmarks seeing more modest gains. Oil recovered a slice of recent losses, and traded back above $50 per barrel. U.S. Treasury yields also edged up, while the dollar was flat.China earlier set the daily yuan fixing at stronger than 7 per dollar, a sign of support for the exchange rate, though it continued to trade weaker than that level offshore. Analysts are anticipating a series of measures to support economic growth as the hit to the country mounts. In the latest tally, China said its total death toll from the virus stood at 425 and cases rose to more than 20,000.“We feel like the world is moving under our feet because the probability of containment, looking at statistics daily, is a little bit of a fool’s errand,” Richard Lacaille, chief investment officer at State Street Global Advisors.Meanwhile, traders will also be watching the results of the Iowa Caucuses, as the 2020 Democratic presidential race kicks off. The Australian dollar ticked higher after the central bank keep interest rates unchanged as expected.Here are some key events coming up:The Iowa caucuses are Monday, the first contest to choose a Democratic nominee to run against Donald Trump in November.Tuesday brings a policy decision from the Reserve Bank of Australia, and the Reserve Bank of India’s interest rate decision is due Thursday.Friday has the U.S. employment report for January.These are the main moves in markets:StocksThe MSCI Asia Pacific Index rose 0.9% as of 12:32 p.m. in Tokyo.Topix index rose 0.4%.Australia’s S&P/ASX 200 Index rose 0.5%.South Korea’s Kospi index rose 1.4%.Hong Kong’s Hang Seng Index rose 0.9%.Shanghai Composite Index rose 0.2% after dropping as much as 2.2%S&P 500 futures rose 0.4%. The S&P 500 closed 0.7% higher Monday.CurrenciesThe yen was at 108.66 per dollar, little changed.The offshore yuan rose 0.1% to 7.0056 per dollar.The euro traded flat at $1.1063.BondsThe yield on 10-year Treasuries edged up to 1.53%.Australia’s 10-year bond yield fell two basis points to 0.92%.CommoditiesWest Texas Intermediate crude rose 0.6% to $50.42 a barrel.Gold was little changed at $1,577 an ounce.\--With assistance from Claire Ballentine.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 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-stocks-set-mixed-start-215610911.html?.tsrc=rss
