NewsFeeder
Headline News
Stocks Slip in Asia Ahead of Key Trump-Xi Meeting: Markets Wrap
(Bloomberg) -- Stocks in Asia slipped on below-average volumes Friday, ahead of the highly anticipated U.S.-China presidential meeting Saturday that could determine the next chapter in the trade war between the world’s two largest economies.Indexes were modestly lower in Tokyo, Hong Kong and Shanghai. U.S. stock futures were flat following a modest gain in the Wall Street session Thursday. American lenders from Goldman Sachs Group Inc. to Bank of America Corp. climbed in after-hours trading after announcing share buybacks in the wake of annual Federal Reserve stress tests. Ten-year Treasury yields lingered just above 2%, and the dollar was little changed. Gold advanced.Saturday’s meeting between Presidents Donald Trump and Xi Jinping in Japan is the key event for markets, with reports about a tariff pause contrasting with Trump’s repeated threats of more duties. On the final trading day of the month and quarter, global equities are sitting on gains of almost 6% for June and bonds are on course for the best month of 2019 amid expectations central banks will loosen policy to arrest an economic slowdown.“Potential disappointment has risen as markets have priced in what we call a can-kick’’ in U.S.-China talks, said Jay Pelosky, chief investment officer of TPW Investment Management. Even so, continued negotiations along with central bank easing and a bottoming in the global slowdown “is going to be constructive for risk assets in the second half.’’These are the main moves in markets:StocksFutures on the S&P 500 Index were little changed as of 12:55 p.m. in Tokyo.Japan’s Topix was down 0.4%.The Shanghai Composite lost 0.9%. Australia’s S&P/ASX 200 Index dipped 0.3%.Hong Kong’s Hang Seng fell 0.6%. Euro Stoxx 50 futures were little changed. CurrenciesThe yen was at 107.65 per dollar, up 0.1%.The offshore yuan held at 6.8756 per dollar.The Bloomberg Dollar Spot Index was steady.The euro was little changed at $1.1365.BondsThe yield on 10-year Treasuries was at 2.01% after dropping on Thursday.Australia’s 10-year yield slipped two basis points to 1.32%. CommoditiesWest Texas Intermediate crude fell 0.4% to $59.18 a barrel.Gold rose 0.6% to $1,418.87 an ounce.\--With assistance from Paul Allen.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, Cormac Mullen, Joanna OssingerFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
https://finance.yahoo.com/news/asia-stocks-start-mixed-ahead-214318264.html?.tsrc=rss
(Bloomberg) -- Stocks in Asia slipped on below-average volumes Friday, ahead of the highly anticipated U.S.-China presidential meeting Saturday that could determine the next chapter in the trade war between the world’s two largest economies.Indexes were modestly lower in Tokyo, Hong Kong and Shanghai. U.S. stock futures were flat following a modest gain in the Wall Street session Thursday. American lenders from Goldman Sachs Group Inc. to Bank of America Corp. climbed in after-hours trading after announcing share buybacks in the wake of annual Federal Reserve stress tests. Ten-year Treasury yields lingered just above 2%, and the dollar was little changed. Gold advanced.Saturday’s meeting between Presidents Donald Trump and Xi Jinping in Japan is the key event for markets, with reports about a tariff pause contrasting with Trump’s repeated threats of more duties. On the final trading day of the month and quarter, global equities are sitting on gains of almost 6% for June and bonds are on course for the best month of 2019 amid expectations central banks will loosen policy to arrest an economic slowdown.“Potential disappointment has risen as markets have priced in what we call a can-kick’’ in U.S.-China talks, said Jay Pelosky, chief investment officer of TPW Investment Management. Even so, continued negotiations along with central bank easing and a bottoming in the global slowdown “is going to be constructive for risk assets in the second half.’’These are the main moves in markets:StocksFutures on the S&P 500 Index were little changed as of 12:55 p.m. in Tokyo.Japan’s Topix was down 0.4%.The Shanghai Composite lost 0.9%. Australia’s S&P/ASX 200 Index dipped 0.3%.Hong Kong’s Hang Seng fell 0.6%. Euro Stoxx 50 futures were little changed. CurrenciesThe yen was at 107.65 per dollar, up 0.1%.The offshore yuan held at 6.8756 per dollar.The Bloomberg Dollar Spot Index was steady.The euro was little changed at $1.1365.BondsThe yield on 10-year Treasuries was at 2.01% after dropping on Thursday.Australia’s 10-year yield slipped two basis points to 1.32%. CommoditiesWest Texas Intermediate crude fell 0.4% to $59.18 a barrel.Gold rose 0.6% to $1,418.87 an ounce.\--With assistance from Paul Allen.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, Cormac Mullen, Joanna OssingerFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
https://finance.yahoo.com/news/asia-stocks-start-mixed-ahead-214318264.html?.tsrc=rss
