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Stocks Mixed on Last Day of Month; Treasuries Slip: Markets Wrap
(Bloomberg) -- Asia stocks were heading for a mixed end to the month as a retreat in Hong Kong offset muted trading elsewhere in the region. Treasury yields edged higher.Shares were little changed in Tokyo, Shanghai and Sydney, and fell in Hong Kong and Seoul. U.S. futures edged lower and the dollar was steady. American equity and bond markets were shut Thursday for Thanksgiving, while European shares retreated. The won was flat after the Bank of Korea kept its policy rate unchanged, as expected.Investors continue to wait for progress on a U.S.-China trade deal, with the next batch of American tariffs on Chinese goods due to begin Dec. 15. This week, China has said it will retaliate against a U.S. bill in support of Hong Kong protesters, though stopped short of offering any details.“Markets are on a sort of ‘wait and hold’ in terms of that phase-one trade deal,” David Riley, chief investment strategist at BlueBay Asset Management, told Bloomberg TV. “If there is a skinny deal, that will allow markets and risk assets to grind higher even if there is no real prospect of a phase two or subsequent detailed negotiation occurring this side of U.S. Presidential elections.”Elsewhere, oil held gains after OPEC+ signaled it will stick with existing output cuts at next week’s meeting. The Chilean peso set a record low for a second day and the central bank said it will directly intervene.These are the main moves in markets:StocksJapan’s Topix index rose 0.1% as of 10:33 a.m. in Tokyo.South Korea’s Kospi slid 0.7%.The Shanghai Composite was little changed.Hong Kong’s Hang Seng dropped 1.1%.Futures on the S&P 500 Index remained about 0.2% lower.Australia’s S&P/ASX 200 Index gained 0.1%.BondsThe yield on 10-year Treasuries remained at 1.77% as trading began following the Thanksgiving break.Australia’s 10-year yield added two basis points to 1.02%.CurrenciesThe yen was steady at 109.50 per dollar.The offshore yuan remained at 7.0312 per dollar.The euro bought $1.1012.CommoditiesWest Texas Intermediate crude held at $58.07 a barrel.Gold was at $1,457.11 an ounce, little changed.\--With assistance from Cormac Mullen, Guy Johnson and Yakob Peterseil.To contact the reporter on this story: Adam Haigh in Sydney at ahaigh1@bloomberg.netTo contact the editors responsible for this story: Christopher Anstey at canstey@bloomberg.net, Joanna Ossinger, Cormac MullenFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
https://finance.yahoo.com/news/asia-stocks-set-gains-last-215120478.html?.tsrc=rss
(Bloomberg) -- Asia stocks were heading for a mixed end to the month as a retreat in Hong Kong offset muted trading elsewhere in the region. Treasury yields edged higher.Shares were little changed in Tokyo, Shanghai and Sydney, and fell in Hong Kong and Seoul. U.S. futures edged lower and the dollar was steady. American equity and bond markets were shut Thursday for Thanksgiving, while European shares retreated. The won was flat after the Bank of Korea kept its policy rate unchanged, as expected.Investors continue to wait for progress on a U.S.-China trade deal, with the next batch of American tariffs on Chinese goods due to begin Dec. 15. This week, China has said it will retaliate against a U.S. bill in support of Hong Kong protesters, though stopped short of offering any details.“Markets are on a sort of ‘wait and hold’ in terms of that phase-one trade deal,” David Riley, chief investment strategist at BlueBay Asset Management, told Bloomberg TV. “If there is a skinny deal, that will allow markets and risk assets to grind higher even if there is no real prospect of a phase two or subsequent detailed negotiation occurring this side of U.S. Presidential elections.”Elsewhere, oil held gains after OPEC+ signaled it will stick with existing output cuts at next week’s meeting. The Chilean peso set a record low for a second day and the central bank said it will directly intervene.These are the main moves in markets:StocksJapan’s Topix index rose 0.1% as of 10:33 a.m. in Tokyo.South Korea’s Kospi slid 0.7%.The Shanghai Composite was little changed.Hong Kong’s Hang Seng dropped 1.1%.Futures on the S&P 500 Index remained about 0.2% lower.Australia’s S&P/ASX 200 Index gained 0.1%.BondsThe yield on 10-year Treasuries remained at 1.77% as trading began following the Thanksgiving break.Australia’s 10-year yield added two basis points to 1.02%.CurrenciesThe yen was steady at 109.50 per dollar.The offshore yuan remained at 7.0312 per dollar.The euro bought $1.1012.CommoditiesWest Texas Intermediate crude held at $58.07 a barrel.Gold was at $1,457.11 an ounce, little changed.\--With assistance from Cormac Mullen, Guy Johnson and Yakob Peterseil.To contact the reporter on this story: Adam Haigh in Sydney at ahaigh1@bloomberg.netTo contact the editors responsible for this story: Christopher Anstey at canstey@bloomberg.net, Joanna Ossinger, Cormac MullenFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
https://finance.yahoo.com/news/asia-stocks-set-gains-last-215120478.html?.tsrc=rss
