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06-20-2019, 05:26 PM
Asia Stocks Seen Mixed With S&P 500 at Record High: Markets Wrap
(Bloomberg) -- Stocks in Asia looked set for a muted start Friday even as their U.S. counterparts climbed to a record high. Treasury yields climbed back above 2%.Futures were little changed in Japan, Hong Kong and Australia, with the MSCI Asia Pacific Index already up more than 3% on the week. Oil soared as President Donald Trump hinted at possible retaliation for Iran shooting down a U.S. drone. Energy stocks led U.S. share gains. The dollar slumped, while Treasuries gave up some gains seen in the wake of the Federal Reserve’s signal for lower interest rates.Central banks in the U.S., Europe, Japan, Australia and the U.K. all signaled a readiness to do more to support growth this week. That’s helped fueled gains for equities while putting increased pressure on sovereign bond yields as the trade war rumbles on. U.S. President Donald Trump and Chinese President Xi Jinping will meet on the sidelines of the Group of 20 summit in Japan next week to discuss the conflict.Gains for stocks have “been built on the potential for monetary policy support from the Federal Reserve on one side, and the easing of trade tensions on the other,” Alex Dryden, global market strategist at JPMorgan Asset Management, told Bloomberg TV. “That is not the best basis for building an equity market rally in a sustainable manner.” These are the main moves in markets:Stocks The S&P 500 Index rose 1%.Futures on Japan’s Nikkei 225 added 0.1% in Singapore. Hang Seng futures were little changed.Futures on Australia’s S&P/ASX 200 Index slid 0.1%. CurrenciesThe yen was at 107.29 per dollar after surging 0.7% Thursday. The offshore yuan traded at 6.8611 per dollar. The Bloomberg Dollar Spot Index declined 0.6%.The euro bought $1.1292..BondsThe yield on 10-year Treasuries rose one basis point to 2.03%.CommoditiesWest Texas Intermediate rose 5.4% to $56.65 a barrel. Gold was at $1,388.50 after soaring more than 2% Thursday.\--With assistance from Sophie Caronello, Sarah Ponczek 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, Cormac MullenFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
https://finance.yahoo.com/news/asia-stocks-seen-mixed-p-214340193.html?.tsrc=rss
(Bloomberg) -- Stocks in Asia looked set for a muted start Friday even as their U.S. counterparts climbed to a record high. Treasury yields climbed back above 2%.Futures were little changed in Japan, Hong Kong and Australia, with the MSCI Asia Pacific Index already up more than 3% on the week. Oil soared as President Donald Trump hinted at possible retaliation for Iran shooting down a U.S. drone. Energy stocks led U.S. share gains. The dollar slumped, while Treasuries gave up some gains seen in the wake of the Federal Reserve’s signal for lower interest rates.Central banks in the U.S., Europe, Japan, Australia and the U.K. all signaled a readiness to do more to support growth this week. That’s helped fueled gains for equities while putting increased pressure on sovereign bond yields as the trade war rumbles on. U.S. President Donald Trump and Chinese President Xi Jinping will meet on the sidelines of the Group of 20 summit in Japan next week to discuss the conflict.Gains for stocks have “been built on the potential for monetary policy support from the Federal Reserve on one side, and the easing of trade tensions on the other,” Alex Dryden, global market strategist at JPMorgan Asset Management, told Bloomberg TV. “That is not the best basis for building an equity market rally in a sustainable manner.” These are the main moves in markets:Stocks The S&P 500 Index rose 1%.Futures on Japan’s Nikkei 225 added 0.1% in Singapore. Hang Seng futures were little changed.Futures on Australia’s S&P/ASX 200 Index slid 0.1%. CurrenciesThe yen was at 107.29 per dollar after surging 0.7% Thursday. The offshore yuan traded at 6.8611 per dollar. The Bloomberg Dollar Spot Index declined 0.6%.The euro bought $1.1292..BondsThe yield on 10-year Treasuries rose one basis point to 2.03%.CommoditiesWest Texas Intermediate rose 5.4% to $56.65 a barrel. Gold was at $1,388.50 after soaring more than 2% Thursday.\--With assistance from Sophie Caronello, Sarah Ponczek 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, Cormac MullenFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
https://finance.yahoo.com/news/asia-stocks-seen-mixed-p-214340193.html?.tsrc=rss