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Japan Stocks Gain With U.S. Futures; Yields Rise: Markets Wrap
(Bloomberg) -- Japanese stocks rose after gains in the U.S. overnight, and futures on the S&P 500 Index edged higher. Treasury yields ticked up.The month kicked off in the black for a Japanese market that has lately attracted interest for its relatively cheap valuations. Trading may be subdued Tuesday with China and Hong Kong shut for holidays. The dollar held gains from Monday, while crude oil recouped some of Monday’s loss. Investors remain focused on U.S.-China trade talks scheduled for next week, with little impact seen as yet from President Donald Trump’s impeachment troubles.“Investors continue to be people who are pulling petals off a daisy saying ‘there will be an accord, there won’t be an accord, there will be an accord, there won’t be,’” Sam Stovall, chief investment strategist at CFRA, said about the U.S.-China talks. “Based on the market’s lack of fear, the majority expect some sort of discussion to occur October 10th and that there will be encouraging developments as we move forward.”Australian stocks edged up and the local dollar dipped ahead of a Reserve Bank of Australia policy decision. The median estimate in a Bloomberg survey is for an interest-rate cut today, though that projection isn’t universal.Here are some key events coming up this week:Australia’s monetary policy decision is set for Tuesday, with markets and economists leaning toward a third interest-rate cut for 2019.Euro-zone CPI for September is scheduled for Tuesday.There’s a slew of U.S. data including ISM manufacturing on Tuesday, the ADP employment report on Wednesday and the monthly jobs report on Friday.The Reserve Bank of India sets policy on Friday.Here are the main moves in markets:StocksTopix Index was up 1.1% as of the lunch break in Tokyo.S&P/ASX 200 rose 0.4%.Futures on the S&P 500 Index rose 0.4%; the underlying index gained 0.5% Monday. The Nasdaq Composite Index gained 0.8%.Kospi Index advanced 0.4%.CurrenciesThe Bloomberg Dollar Spot Index gained 0.1% after increasing 0.2% Monday.The yen was at 108.21 per dollar.The offshore yuan was at 7.1419.The euro traded at $1.0887.BondsThe yield on 10-year Treasuries rose about two basis points, to 1.68%.Japan’s 10-year yields were at negative 0.181%, back in the central bank’s preferred zone.CommoditiesWest Texas Intermediate crude rose 0.9% to $54.56 a barrel.Gold was at $1,467.50 an ounce.To contact the reporter on this story: Cormac Mullen in Tokyo at cmullen9@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-modest-gains-224628956.html?.tsrc=rss
(Bloomberg) -- Japanese stocks rose after gains in the U.S. overnight, and futures on the S&P 500 Index edged higher. Treasury yields ticked up.The month kicked off in the black for a Japanese market that has lately attracted interest for its relatively cheap valuations. Trading may be subdued Tuesday with China and Hong Kong shut for holidays. The dollar held gains from Monday, while crude oil recouped some of Monday’s loss. Investors remain focused on U.S.-China trade talks scheduled for next week, with little impact seen as yet from President Donald Trump’s impeachment troubles.“Investors continue to be people who are pulling petals off a daisy saying ‘there will be an accord, there won’t be an accord, there will be an accord, there won’t be,’” Sam Stovall, chief investment strategist at CFRA, said about the U.S.-China talks. “Based on the market’s lack of fear, the majority expect some sort of discussion to occur October 10th and that there will be encouraging developments as we move forward.”Australian stocks edged up and the local dollar dipped ahead of a Reserve Bank of Australia policy decision. The median estimate in a Bloomberg survey is for an interest-rate cut today, though that projection isn’t universal.Here are some key events coming up this week:Australia’s monetary policy decision is set for Tuesday, with markets and economists leaning toward a third interest-rate cut for 2019.Euro-zone CPI for September is scheduled for Tuesday.There’s a slew of U.S. data including ISM manufacturing on Tuesday, the ADP employment report on Wednesday and the monthly jobs report on Friday.The Reserve Bank of India sets policy on Friday.Here are the main moves in markets:StocksTopix Index was up 1.1% as of the lunch break in Tokyo.S&P/ASX 200 rose 0.4%.Futures on the S&P 500 Index rose 0.4%; the underlying index gained 0.5% Monday. The Nasdaq Composite Index gained 0.8%.Kospi Index advanced 0.4%.CurrenciesThe Bloomberg Dollar Spot Index gained 0.1% after increasing 0.2% Monday.The yen was at 108.21 per dollar.The offshore yuan was at 7.1419.The euro traded at $1.0887.BondsThe yield on 10-year Treasuries rose about two basis points, to 1.68%.Japan’s 10-year yields were at negative 0.181%, back in the central bank’s preferred zone.CommoditiesWest Texas Intermediate crude rose 0.9% to $54.56 a barrel.Gold was at $1,467.50 an ounce.To contact the reporter on this story: Cormac Mullen in Tokyo at cmullen9@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-modest-gains-224628956.html?.tsrc=rss
