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Stocks, U.S. Futures Rise as Trade Talks in Focus: Markets Wrap
(Bloomberg) -- Stocks rose in Asia with U.S. futures following confirmation from China about the country’s high-level delegation heading for trade talks with the U.S. in Washington later this week. Treasuries and the yen slipped. European futures also advanced, while the yuan rose in Shanghai. Equity benchmarks saw solid gains from Tokyo and Seoul to Shanghai and Hong Kong -- where trading showed little concern about the violence in public protests. Crude oil gained to around $53 a barrel in New York.Technology shares led gains in Asia in the wake of Samsung Electronics Co. posting earnings that beat analyst estimates, with news that eight Chinese technology companies were put on a U.S. blacklist having limited spillover.Despite recent headlines suggesting continuing trade tensions between the U.S. and China, investors may be viewing the upcoming talks with optimism. China Tuesday confirmed Vice Premier Liu He and People’s Bank of China Governor Yi Gang will head to Washington for the Oct. 10-11 talks.“In addition to the vice premier, the head of the PBOC would also be attending the talks on Thursday, and that’s the only thing we can really see that’s caused the rebound,” said Jeffrey Halley senior Asia Pacific market analyst at Oanda.Elsewhere, Turkey’s lira stabilized after tumbling Monday in wake of U.S. President Donald Trump threatening to “destroy” the country’s economy if it acts in excess in a military operation targeting Kurdish forces in Syria.Here are some key events coming up this week:Chinese Vice Premier Liu He visits Washington for trade talks with his U.S. counterparts.Fed Chairman Jerome Powell speaks Tuesday on the final day of NABE’s annual conference in Denver; on the following day, minutes are released on the last policy meeting of the Fed’s rate-setting committee.Chinese President Xi Jinping and Indian Prime Minister Narendra Modi reportedly will meet at an unofficial summit.The U.S. releases a key measure of inflation on Thursday.Here are the main moves in markets:StocksJapan’s Topix index rose 0.9% at the 3 p.m. close in Tokyo.Australia’s S&P 200 Index rose 0.5%.South Korea’s Kospi index gained 0.9%.Hang Seng Index rose 0.6%.Shanghai Composite Index rose 0.5%.S&P 500 futures added 0.3%. The S&P 500 Index fell 0.5% overnight in New York.Euro Stoxx 50 futures rose 0.2%.CurrenciesThe edged lower 0.2% to 107.42 per dollar.The offshore yuan was at 7.1216 per dollar, up 0.2%.The pound traded at $1.2296.The euro was little changed at $1.0975.The Bloomberg Dollar Spot Index dipped. BondsThe yield on 10-year Treasuries rose about two basis points, to 1.58%.Australia’s 10-year bond yield was at 0.89%.CommoditiesWest Texas Intermediate crude rose 0.8% to $53.18 a barrel.Gold dipped 0.2% to $1,490.36 an ounce.\--With assistance from Joanna Ossinger.To contact the reporters on this story: Andreea Papuc in Sydney at apapuc1@bloomberg.net;Sybilla Gross in Sydney at sgross61@bloomberg.netTo contact the editors responsible for this story: Christopher Anstey at canstey@bloomberg.net, Joanna OssingerFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
https://finance.yahoo.com/news/asia-stocks-look-mixed-china-231439292.html?.tsrc=rss
(Bloomberg) -- Stocks rose in Asia with U.S. futures following confirmation from China about the country’s high-level delegation heading for trade talks with the U.S. in Washington later this week. Treasuries and the yen slipped. European futures also advanced, while the yuan rose in Shanghai. Equity benchmarks saw solid gains from Tokyo and Seoul to Shanghai and Hong Kong -- where trading showed little concern about the violence in public protests. Crude oil gained to around $53 a barrel in New York.Technology shares led gains in Asia in the wake of Samsung Electronics Co. posting earnings that beat analyst estimates, with news that eight Chinese technology companies were put on a U.S. blacklist having limited spillover.Despite recent headlines suggesting continuing trade tensions between the U.S. and China, investors may be viewing the upcoming talks with optimism. China Tuesday confirmed Vice Premier Liu He and People’s Bank of China Governor Yi Gang will head to Washington for the Oct. 10-11 talks.“In addition to the vice premier, the head of the PBOC would also be attending the talks on Thursday, and that’s the only thing we can really see that’s caused the rebound,” said Jeffrey Halley senior Asia Pacific market analyst at Oanda.Elsewhere, Turkey’s lira stabilized after tumbling Monday in wake of U.S. President Donald Trump threatening to “destroy” the country’s economy if it acts in excess in a military operation targeting Kurdish forces in Syria.Here are some key events coming up this week:Chinese Vice Premier Liu He visits Washington for trade talks with his U.S. counterparts.Fed Chairman Jerome Powell speaks Tuesday on the final day of NABE’s annual conference in Denver; on the following day, minutes are released on the last policy meeting of the Fed’s rate-setting committee.Chinese President Xi Jinping and Indian Prime Minister Narendra Modi reportedly will meet at an unofficial summit.The U.S. releases a key measure of inflation on Thursday.Here are the main moves in markets:StocksJapan’s Topix index rose 0.9% at the 3 p.m. close in Tokyo.Australia’s S&P 200 Index rose 0.5%.South Korea’s Kospi index gained 0.9%.Hang Seng Index rose 0.6%.Shanghai Composite Index rose 0.5%.S&P 500 futures added 0.3%. The S&P 500 Index fell 0.5% overnight in New York.Euro Stoxx 50 futures rose 0.2%.CurrenciesThe edged lower 0.2% to 107.42 per dollar.The offshore yuan was at 7.1216 per dollar, up 0.2%.The pound traded at $1.2296.The euro was little changed at $1.0975.The Bloomberg Dollar Spot Index dipped. BondsThe yield on 10-year Treasuries rose about two basis points, to 1.58%.Australia’s 10-year bond yield was at 0.89%.CommoditiesWest Texas Intermediate crude rose 0.8% to $53.18 a barrel.Gold dipped 0.2% to $1,490.36 an ounce.\--With assistance from Joanna Ossinger.To contact the reporters on this story: Andreea Papuc in Sydney at apapuc1@bloomberg.net;Sybilla Gross in Sydney at sgross61@bloomberg.netTo contact the editors responsible for this story: Christopher Anstey at canstey@bloomberg.net, Joanna OssingerFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
https://finance.yahoo.com/news/asia-stocks-look-mixed-china-231439292.html?.tsrc=rss
