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Stocks Trade Mixed; Treasuries Push Higher: Markets Wrap
(Bloomberg) -- Asia stocks were mixed Thursday and U.S. futures dipped as investors awaited for progress on trade amid impeachment inquiry proceedings in Washington. The dollar steadied after climbing the most since March and Treasuries recovered some overnight losses.Shares in Japan and Hong Kong came off their highs to trade little changed, while they fell in Sydney and Shanghai. European futures were flat. The S&P 500 halted a three-day drop Wednesday after President Donald Trump suggested a trade deal with China was possible and touted a pact with Japan.Trump said a trade agreement with China is getting “closer and closer” and there’s a “good chance” a deal can be reached. Beijing is starting to make big purchases of items such as beef and pork, the president added. He also expressed progress on trade talks with Japan, and signed a limited pact with Prime Minister Shinzo Abe that eases access for $7.2 billion in U.S. agricultural goods.“Risk-taking will really depend on developments in the U.S.-China trade war,” Anna Han, equity strategist at Wells Fargo Securities LLC, told Bloomberg TV. Though in the short term you may see some risk aversion, “on a three, six, or 12 month look we think it will be more risk-on as long as we don’t see anything crazy with a derailment on the trade talks with China.”Elsewhere, oil steadied after sliding on a report showing U.S. crude supplies rose 2.41 million barrels last week. The New Zealand dollar climbed and traders trimmed bets for more easing after the central bank governor said interest-rate cuts are working.These are some key events coming up this week:The Philippines decides on monetary policy on Thursday.Core PCE -- the Fed’s preferred inflation measure -- is forecast for 1.8%. That’s due Friday.Here are the main moves in markets:StocksJapan’s Topix index gained 0.2% at the 3 p.m. close in Tokyo.Futures on the S&P 500 Index slipped 0.1%. The underlying gauge rose 0.6% Wednesday.Hong Kong’s Hang Seng Index added 0.1%.The Shanghai Composite slid 0.6%.Australia’s S&P/ASX 200 Index fell 0.5%.South Korea’s Kospi index dipped 0.1%.Euro Stoxx 500 futures rosee 0.1%.CurrenciesThe yen was at 107.63 per dollar, up 0.1%.The offshore yuan held at 7.1247 per dollar.The euro bought $1.0953, up 0.1%.The Bloomberg Dollar Spot Index dipped 0.1% after jumping 0.6%.BondsThe yield on 10-year Treasuries fell four basis points to 1.70%.Australia’s 10-year yield rose three basis points to 0.97%.CommoditiesWest Texas Intermediate crude fell 0.3% to $56.34 a barrel.Gold added 0.3% to $1,508.99 an ounce after sliding 1.8% on Wednesday.\--With assistance from Sophie Caronello and Vildana Hajric.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, Andreea Papuc, Ravil ShirodkarFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
https://finance.yahoo.com/news/asia-stock-futures-rise-trade-214314399.html?.tsrc=rss
(Bloomberg) -- Asia stocks were mixed Thursday and U.S. futures dipped as investors awaited for progress on trade amid impeachment inquiry proceedings in Washington. The dollar steadied after climbing the most since March and Treasuries recovered some overnight losses.Shares in Japan and Hong Kong came off their highs to trade little changed, while they fell in Sydney and Shanghai. European futures were flat. The S&P 500 halted a three-day drop Wednesday after President Donald Trump suggested a trade deal with China was possible and touted a pact with Japan.Trump said a trade agreement with China is getting “closer and closer” and there’s a “good chance” a deal can be reached. Beijing is starting to make big purchases of items such as beef and pork, the president added. He also expressed progress on trade talks with Japan, and signed a limited pact with Prime Minister Shinzo Abe that eases access for $7.2 billion in U.S. agricultural goods.“Risk-taking will really depend on developments in the U.S.-China trade war,” Anna Han, equity strategist at Wells Fargo Securities LLC, told Bloomberg TV. Though in the short term you may see some risk aversion, “on a three, six, or 12 month look we think it will be more risk-on as long as we don’t see anything crazy with a derailment on the trade talks with China.”Elsewhere, oil steadied after sliding on a report showing U.S. crude supplies rose 2.41 million barrels last week. The New Zealand dollar climbed and traders trimmed bets for more easing after the central bank governor said interest-rate cuts are working.These are some key events coming up this week:The Philippines decides on monetary policy on Thursday.Core PCE -- the Fed’s preferred inflation measure -- is forecast for 1.8%. That’s due Friday.Here are the main moves in markets:StocksJapan’s Topix index gained 0.2% at the 3 p.m. close in Tokyo.Futures on the S&P 500 Index slipped 0.1%. The underlying gauge rose 0.6% Wednesday.Hong Kong’s Hang Seng Index added 0.1%.The Shanghai Composite slid 0.6%.Australia’s S&P/ASX 200 Index fell 0.5%.South Korea’s Kospi index dipped 0.1%.Euro Stoxx 500 futures rosee 0.1%.CurrenciesThe yen was at 107.63 per dollar, up 0.1%.The offshore yuan held at 7.1247 per dollar.The euro bought $1.0953, up 0.1%.The Bloomberg Dollar Spot Index dipped 0.1% after jumping 0.6%.BondsThe yield on 10-year Treasuries fell four basis points to 1.70%.Australia’s 10-year yield rose three basis points to 0.97%.CommoditiesWest Texas Intermediate crude fell 0.3% to $56.34 a barrel.Gold added 0.3% to $1,508.99 an ounce after sliding 1.8% on Wednesday.\--With assistance from Sophie Caronello and Vildana Hajric.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, Andreea Papuc, Ravil ShirodkarFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
https://finance.yahoo.com/news/asia-stock-futures-rise-trade-214314399.html?.tsrc=rss
