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Stocks Trade Mixed, China Lags; Dollar Slips: Markets Wrap
(Bloomberg) -- Stocks were mixed on Thursday amid concern over renewed Sino-U.S. tensions and uncertainty over the timing of a new American stimulus package. The dollar dipped to near the weakest since March.Shares in China and South Korea underperformed. Equities in Hong Kong edged up, after news of the U.S. ordering China’s Houston consulate to shut hit stocks late on Wednesday. The offshore yuan nudged higher. Contracts on the S&P 500 were flat after the gauge earlier rose to a five-month high. Shares of Microsoft Corp. dropped and Tesla Inc. surged in after-hours trading. Japan is closed Thursday and Friday for holidays.Investors also continued to monitor progress on combating the virus’s impact. Pfizer Inc. shares rallied after saying the government ordered up to 600 million doses of its vaccine candidate against Covid-19. Treasury futures were little changed, with cash bonds shut due to the Japan holiday.“The escalation in U.S.-China tensions is a reminder of the headline risk faced by investors during the upcoming U.S. election campaign,” said Stephen Innes, chief global market strategist at AxiCorp. “The U.S. and China have become increasingly combative in their views this year. The markets better get used to it because there is more of that to come.”Here are some key events coming up:Quarterly earnings gather steam, with reports due from Blackstone Group, Roche, Intel, Unilever, Canadian Pacific, Daimler, Hyundai and Mattel.U.S. weekly jobless claims come on Thursday.These are the main moves in markets:StocksFutures on the S&P 500 were little changed as of 5:30 a.m. in London. The index rose 0.6% on Wednesday.Hong Kong’s Hang Seng gained 0.4%.Shanghai Composite lost 1.2%.Australia’s S&P/ASX 200 Index was little changed.South Korea’s Kospi index dropped 1%.Euro Stoxx 50 futures added 0.2%.CurrenciesThe Bloomberg Dollar Spot Index fell 0.2%.The yen was at 107.14 per dollar.The offshore yuan rose 0.2% to 7.0051 per dollar.The euro bought $1.1579, up 0.1%.BondsThe yield on 10-year Treasuries was at 0.60% on Thursday, with cash Treasuries shut until the London open. Futures were little changed.Australia’s 10-year yield slipped two basis points to 0.87%.CommoditiesWest Texas Intermediate crude rose 0.4% to $42.06 a barrel.Gold fell 0.1% to $1,869.99 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/asia-stocks-poised-muted-start-213157805.html?.tsrc=rss
(Bloomberg) -- Stocks were mixed on Thursday amid concern over renewed Sino-U.S. tensions and uncertainty over the timing of a new American stimulus package. The dollar dipped to near the weakest since March.Shares in China and South Korea underperformed. Equities in Hong Kong edged up, after news of the U.S. ordering China’s Houston consulate to shut hit stocks late on Wednesday. The offshore yuan nudged higher. Contracts on the S&P 500 were flat after the gauge earlier rose to a five-month high. Shares of Microsoft Corp. dropped and Tesla Inc. surged in after-hours trading. Japan is closed Thursday and Friday for holidays.Investors also continued to monitor progress on combating the virus’s impact. Pfizer Inc. shares rallied after saying the government ordered up to 600 million doses of its vaccine candidate against Covid-19. Treasury futures were little changed, with cash bonds shut due to the Japan holiday.“The escalation in U.S.-China tensions is a reminder of the headline risk faced by investors during the upcoming U.S. election campaign,” said Stephen Innes, chief global market strategist at AxiCorp. “The U.S. and China have become increasingly combative in their views this year. The markets better get used to it because there is more of that to come.”Here are some key events coming up:Quarterly earnings gather steam, with reports due from Blackstone Group, Roche, Intel, Unilever, Canadian Pacific, Daimler, Hyundai and Mattel.U.S. weekly jobless claims come on Thursday.These are the main moves in markets:StocksFutures on the S&P 500 were little changed as of 5:30 a.m. in London. The index rose 0.6% on Wednesday.Hong Kong’s Hang Seng gained 0.4%.Shanghai Composite lost 1.2%.Australia’s S&P/ASX 200 Index was little changed.South Korea’s Kospi index dropped 1%.Euro Stoxx 50 futures added 0.2%.CurrenciesThe Bloomberg Dollar Spot Index fell 0.2%.The yen was at 107.14 per dollar.The offshore yuan rose 0.2% to 7.0051 per dollar.The euro bought $1.1579, up 0.1%.BondsThe yield on 10-year Treasuries was at 0.60% on Thursday, with cash Treasuries shut until the London open. Futures were little changed.Australia’s 10-year yield slipped two basis points to 0.87%.CommoditiesWest Texas Intermediate crude rose 0.4% to $42.06 a barrel.Gold fell 0.1% to $1,869.99 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/asia-stocks-poised-muted-start-213157805.html?.tsrc=rss
