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Stocks Climb After Tech Rally on Wall Street: Markets Wrap
(Bloomberg) -- Asian stocks gained on Friday after technology shares propelled U.S. benchmarks to fresh record highs.South Korea’s Kospi rose to a seven-month high after falling at the open as a number of companies traded without the right to the next dividend payment. Ex-dividend trading also held back Japanese stocks initially, though they bounced back later. Shares in Shanghai and Hong Kong traded higher. U.S. futures were little changed after the S&P 500 climbed Thursday, with Amazon.com Inc. the top performer after the e-commerce giant reported a “record breaking” holiday season. The dollar held overnight losses, while Treasuries were little changed.Investors are pushing the MSCI ACWI Index of global stocks toward a more-than 8% advance in the final three months of 2019, a quarterly performance only bettered a handful of times in the past decade. While a strong U.S. consumer has helped underpin that rally, investors say that key going into next year will be whether the U.S.-China trade deal does get signed and whether that then provides another engine for growth.“A lot of robust sentiment toward the end of 2019 -- but we need to see that translate into the underlying real economy going into 2020,” Ann Berry, a partner at Cornell Capital LLC, said on Bloomberg TV. “It’s astonishing that you’ve had a period of rate cuts that we have have seen, and yet that investment in capital goods has not gone up in the way that you’d expect.”Meantime, the pound held recent gains, trading near $1.30. Oil climbed closer toward $62 a barrel in New York. Gold was flat, holding above $1,500 an ounce.Here are some of the moves in major markets:StocksJapan’s Topix was up 0.3% as of 1:59 p.m. Tokyo time.Futures on the S&P 500 Index were little changed after the underlying gauge rose 0.5%. The Nasdaq added 0.8% Thursday.The Kospi Index rose 0.3% after sliding as much as 0.9% earlier.Australia’s S&P/ASX 200 was up 0.4%.Hang Seng Index gained 1.2%.Shanghai Composite rose 0.9%.CurrenciesThe Japanese yen was at 109.46 per dollar.The euro was at $1.1121.China’s offshore yuan was at 6.9964 per dollar.The British pound was at $1.2989 after rising 0.3% Thursday.The Bloomberg Dollar Spot Index was little changed after dipping 0.2% Thursday.BondsThe yield on 10-year Treasuries was little changed at 1.89%.Australian 10-year yields were at 1.30%, down about one basis points.Japanese 10-year yields were flat around -0.01%.CommoditiesWest Texas Intermediate crude was flat at $61.83 a barrel.Gold was at $1,510.29 an ounce after climbing 0.8% Thursday.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, Naoto Hosoda, Ravil ShirodkarFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
https://finance.yahoo.com/news/asia-stocks-open-higher-u-222917037.html?.tsrc=rss
(Bloomberg) -- Asian stocks gained on Friday after technology shares propelled U.S. benchmarks to fresh record highs.South Korea’s Kospi rose to a seven-month high after falling at the open as a number of companies traded without the right to the next dividend payment. Ex-dividend trading also held back Japanese stocks initially, though they bounced back later. Shares in Shanghai and Hong Kong traded higher. U.S. futures were little changed after the S&P 500 climbed Thursday, with Amazon.com Inc. the top performer after the e-commerce giant reported a “record breaking” holiday season. The dollar held overnight losses, while Treasuries were little changed.Investors are pushing the MSCI ACWI Index of global stocks toward a more-than 8% advance in the final three months of 2019, a quarterly performance only bettered a handful of times in the past decade. While a strong U.S. consumer has helped underpin that rally, investors say that key going into next year will be whether the U.S.-China trade deal does get signed and whether that then provides another engine for growth.“A lot of robust sentiment toward the end of 2019 -- but we need to see that translate into the underlying real economy going into 2020,” Ann Berry, a partner at Cornell Capital LLC, said on Bloomberg TV. “It’s astonishing that you’ve had a period of rate cuts that we have have seen, and yet that investment in capital goods has not gone up in the way that you’d expect.”Meantime, the pound held recent gains, trading near $1.30. Oil climbed closer toward $62 a barrel in New York. Gold was flat, holding above $1,500 an ounce.Here are some of the moves in major markets:StocksJapan’s Topix was up 0.3% as of 1:59 p.m. Tokyo time.Futures on the S&P 500 Index were little changed after the underlying gauge rose 0.5%. The Nasdaq added 0.8% Thursday.The Kospi Index rose 0.3% after sliding as much as 0.9% earlier.Australia’s S&P/ASX 200 was up 0.4%.Hang Seng Index gained 1.2%.Shanghai Composite rose 0.9%.CurrenciesThe Japanese yen was at 109.46 per dollar.The euro was at $1.1121.China’s offshore yuan was at 6.9964 per dollar.The British pound was at $1.2989 after rising 0.3% Thursday.The Bloomberg Dollar Spot Index was little changed after dipping 0.2% Thursday.BondsThe yield on 10-year Treasuries was little changed at 1.89%.Australian 10-year yields were at 1.30%, down about one basis points.Japanese 10-year yields were flat around -0.01%.CommoditiesWest Texas Intermediate crude was flat at $61.83 a barrel.Gold was at $1,510.29 an ounce after climbing 0.8% Thursday.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, Naoto Hosoda, Ravil ShirodkarFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
https://finance.yahoo.com/news/asia-stocks-open-higher-u-222917037.html?.tsrc=rss
