NewsFeeder
Headline News
- Reaction score
- 3
Stocks Set for Cautious Start on Trade Tensions: Markets Wrap
(Bloomberg) -- Stocks in Asia were set to start the week lower as investors weighed the latest signs of escalating trade tensions and awaited data on China’s economy.Futures in Tokyo, Hong Kong and Sydney slipped after the S&P 500 retreated on Friday when a report that the Trump administration is considering sweeping limits to capital-market investments hit sentiment. The U.S. has no plans “at this time” to stop Chinese companies from listing on American exchanges, a Treasury official said.Treasuries ended last week little changed with the 10-year yield at 1.68%. In China, it’s the final day of trading before the week-long national holiday.As Washington and Beijing prepare for high-levels talks on trade next month, news Friday of possible limits on U.S. portfolio flows into the Asian nation hit exchange-traded funds focused on Chinese companies. Beijing said it would continue to open up its financial markets and encourage foreign investment. Vice Premier Liu He, who leads the trade negotiating team, heads to the U.S. after Oct. 7.“Share markets remain at risk of volatility in the months ahead given unresolved issues around trade and Iran, impeachment noise and mixed economic data,” said Shane Oliver, head of investment strategy at AMP Capital Investors Ltd. in Sydney.Financial markets and offices in Taipei will be closed Monday as Typhoon Mitag approaches.Here are some key events coming up this week:China’s manufacturing and services PMI data is due Monday.Australia’s monetary policy decision is finely poised, with markets and economists leaning toward a third interest-rate cut for 2019 at Tuesday’s meeting.There’s a slew of U.S. data including ISM manufacturing on Tuesday, the ADP employment report on Wednesday and the monthly government jobs report on Friday.The Reserve Bank of India sets policy on Friday.Here are the main moves in markets:StocksThe S&P 500 Index fell 0.5%.Futures on Japan’s Nikkei 225 fell 0.3%.Hang Seng futures dropped 1.2%.Futures on Australia’s S&P/ASX 200 Index lost 0.2%.CurrenciesThe yen slid 0.1% to 107.98 per dollar.The offshore yuan held at 7.1368 per dollar.The euro bought $1.0941.The British pound was steady at $1.2297.BondsThe yield on 10-year Treasuries fell one basis point to 1.68%.CommoditiesGold declined 0.5% to $1,497.01 an ounce.West Texas Intermediate crude fell 0.9% to $55.91 a barrel.\--With assistance from Sophie Caronello.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, Linus Chua, Virginia Van NattaFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
https://finance.yahoo.com/news/stocks-set-cautious-start-trade-213134837.html?.tsrc=rss
(Bloomberg) -- Stocks in Asia were set to start the week lower as investors weighed the latest signs of escalating trade tensions and awaited data on China’s economy.Futures in Tokyo, Hong Kong and Sydney slipped after the S&P 500 retreated on Friday when a report that the Trump administration is considering sweeping limits to capital-market investments hit sentiment. The U.S. has no plans “at this time” to stop Chinese companies from listing on American exchanges, a Treasury official said.Treasuries ended last week little changed with the 10-year yield at 1.68%. In China, it’s the final day of trading before the week-long national holiday.As Washington and Beijing prepare for high-levels talks on trade next month, news Friday of possible limits on U.S. portfolio flows into the Asian nation hit exchange-traded funds focused on Chinese companies. Beijing said it would continue to open up its financial markets and encourage foreign investment. Vice Premier Liu He, who leads the trade negotiating team, heads to the U.S. after Oct. 7.“Share markets remain at risk of volatility in the months ahead given unresolved issues around trade and Iran, impeachment noise and mixed economic data,” said Shane Oliver, head of investment strategy at AMP Capital Investors Ltd. in Sydney.Financial markets and offices in Taipei will be closed Monday as Typhoon Mitag approaches.Here are some key events coming up this week:China’s manufacturing and services PMI data is due Monday.Australia’s monetary policy decision is finely poised, with markets and economists leaning toward a third interest-rate cut for 2019 at Tuesday’s meeting.There’s a slew of U.S. data including ISM manufacturing on Tuesday, the ADP employment report on Wednesday and the monthly government jobs report on Friday.The Reserve Bank of India sets policy on Friday.Here are the main moves in markets:StocksThe S&P 500 Index fell 0.5%.Futures on Japan’s Nikkei 225 fell 0.3%.Hang Seng futures dropped 1.2%.Futures on Australia’s S&P/ASX 200 Index lost 0.2%.CurrenciesThe yen slid 0.1% to 107.98 per dollar.The offshore yuan held at 7.1368 per dollar.The euro bought $1.0941.The British pound was steady at $1.2297.BondsThe yield on 10-year Treasuries fell one basis point to 1.68%.CommoditiesGold declined 0.5% to $1,497.01 an ounce.West Texas Intermediate crude fell 0.9% to $55.91 a barrel.\--With assistance from Sophie Caronello.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, Linus Chua, Virginia Van NattaFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
https://finance.yahoo.com/news/stocks-set-cautious-start-trade-213134837.html?.tsrc=rss
