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Stocks Mixed in Thin Trading; Dollar Holds Advance: Markets Wrap
(Bloomberg) -- Asian stocks traded mixed as low volumes and an absence of fresh catalysts showcased a lack conviction in markets after the risk-asset rally that petered out earlier this month.Early gains in Japan gave way to a modest decline, with volumes down about a third the recent average. South Korean shares also retreated, while Australia and China saw gains and Hong Kong was flat. S&P 500 futures edged higher after fluctuating in a U.S. session with light volume ahead of option expirations on Friday. Meanwhile, Florida’s new coronavirus cases rose faster than the past week’s average and Texas hospitalizations rose by another record.Investors continue to weigh a resurgence in some virus hotspots that may derail an economic recovery against record stimulus measures to help stave off the worst of the pandemic’s impact. Meanwhile, Sino-American tensions continue to simmer -- President Donald Trump said the U.S. could pursue a “complete decoupling from China” in response to unspecified conditions.“No one at this point, analysts, companies, strategists, portfolio managers, has a great sense for what earnings will be in 2020 or in 2021,” Kate Moore, head of thematic strategy at BlackRock Inc., said on Bloomberg TV. “We are experiencing a lot of dislocations in the economy and consumption patterns and it is pretty difficult to predict.”Elsewhere, the pound held onto losses after the Bank of England expanded its quantitative-easing program Thursday.These are some of the main moves in markets:StocksFutures on the S&P 500 advanced 0.2% as of 12:17 p.m. in Tokyo. The index rose 0.1% on Thursday.Japan’s Topix index fell 0.3%.Hong Kong’s Hang Seng was little changed.Shanghai Composite added 0.5%. South Korea’s Kospi index slid 0.4%.Australia’s S&P/ASX 200 Index added 0.9%.Euro Stoxx 50 futures were little changed.CurrenciesThe yen was at 106.91 per dollar, little changed.The offshore yuan traded flat at 7.0793 per dollar.The euro bought $1.1214, up 0.1%.BondsThe yield on 10-year Treasury yields dipped to 0.70%.Australia’s 10-year yield fell one basis point to 0.87%.CommoditiesWest Texas Intermediate crude rose 0.9% to $39.18 a barrel.Gold was up 0.2% at $1,725.85 an ounce.For 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-214233427.html?.tsrc=rss
(Bloomberg) -- Asian stocks traded mixed as low volumes and an absence of fresh catalysts showcased a lack conviction in markets after the risk-asset rally that petered out earlier this month.Early gains in Japan gave way to a modest decline, with volumes down about a third the recent average. South Korean shares also retreated, while Australia and China saw gains and Hong Kong was flat. S&P 500 futures edged higher after fluctuating in a U.S. session with light volume ahead of option expirations on Friday. Meanwhile, Florida’s new coronavirus cases rose faster than the past week’s average and Texas hospitalizations rose by another record.Investors continue to weigh a resurgence in some virus hotspots that may derail an economic recovery against record stimulus measures to help stave off the worst of the pandemic’s impact. Meanwhile, Sino-American tensions continue to simmer -- President Donald Trump said the U.S. could pursue a “complete decoupling from China” in response to unspecified conditions.“No one at this point, analysts, companies, strategists, portfolio managers, has a great sense for what earnings will be in 2020 or in 2021,” Kate Moore, head of thematic strategy at BlackRock Inc., said on Bloomberg TV. “We are experiencing a lot of dislocations in the economy and consumption patterns and it is pretty difficult to predict.”Elsewhere, the pound held onto losses after the Bank of England expanded its quantitative-easing program Thursday.These are some of the main moves in markets:StocksFutures on the S&P 500 advanced 0.2% as of 12:17 p.m. in Tokyo. The index rose 0.1% on Thursday.Japan’s Topix index fell 0.3%.Hong Kong’s Hang Seng was little changed.Shanghai Composite added 0.5%. South Korea’s Kospi index slid 0.4%.Australia’s S&P/ASX 200 Index added 0.9%.Euro Stoxx 50 futures were little changed.CurrenciesThe yen was at 106.91 per dollar, little changed.The offshore yuan traded flat at 7.0793 per dollar.The euro bought $1.1214, up 0.1%.BondsThe yield on 10-year Treasury yields dipped to 0.70%.Australia’s 10-year yield fell one basis point to 0.87%.CommoditiesWest Texas Intermediate crude rose 0.9% to $39.18 a barrel.Gold was up 0.2% at $1,725.85 an ounce.For 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-214233427.html?.tsrc=rss
