NewsFeeder
06-27-2019, 12:46 AM
Stocks Advance With Focus on G-20; Yen Retreats: Markets Wrap
(Bloomberg) -- Sign up for Next China, a weekly email on where the nation stands now and where it's going next.Asian stocks advanced on optimism that the U.S. and China will declare another truce in their trade war at a presidential meeting on Saturday. The yen extended losses after the biggest drop since April.Equity benchmarks in Tokyo, Seoul and Hong Kong saw gains of almost 1%, and U.S. stock futures also climbed after reports that the current plan is for the U.S. to hold fire on hiking tariffs on another swathe of Chinese imports. Ten-year Treasury yields edged up after rising on Wednesday, while crude oil gave up a slice of its recent jump. Gold prices remain lower after giving up some of its surge since mid-June. The yuan edged up offshore.The Saturday sit-down between Presidents Donald Trump and Xi Jinping in Osaka, Japan, looms as a pivotal event for markets, with the reports about a tariff pause contrasting with Trump’s own indications that more hikes in duties are possible. Meantime, traders are assessing the prospect for the Federal Reserve to cushion the outlook with interest-rate cuts, though prominent dove James Bullard raised doubts about a half-point reduction.“We should not expect too much from the Osaka meeting,” Christian Nolting, global chief investment officer at Deutsche Bank Wealth Management told Bloomberg TV. “To be overly optimistic could be on the wrong side for this weekend.”Elsewhere, Bitcoin traded close to $13,000 after gaining about 50% this month.These are the main moves in markets:StocksFutures on the S&P 500 Index rose 0.3% at 1:32 p.m. in Tokyo. The underlying gauge fell 0.1% Wednesday.Japan’s Topix index rose 0.9%.Hong Kong’s Hang Seng added 1.1%.The Shanghai Composite rose 0.9%.South Korea’s Kospi index added 0.8%.Euro Stoxx 50 futures advanced 0.3%. CurrenciesThe yen dipped 0.3% to 108.07 per dollar.The offshore yuan rose 0.1% to 6.8814 per dollar.The Bloomberg Dollar Spot Index added 0.1%.The euro slid 0.2% to $1.1351.BondsThe yield on 10-year Treasuries rose to 2.06%.Australia’s 10-year bond yield added about seven basis points to 1.35%.CommoditiesWest Texas Intermediate crude slipped 0.5% to $59.09 a barrel.Gold fell 0.3% to $1,405.44 an ounce.\--With assistance from Vildana Hajric, Randall Jensen and Nancy Moran.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, Ravil ShirodkarFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
https://finance.yahoo.com/news/asia-stocks-open-mixed-treasuries-214412808.html?.tsrc=rss
(Bloomberg) -- Sign up for Next China, a weekly email on where the nation stands now and where it's going next.Asian stocks advanced on optimism that the U.S. and China will declare another truce in their trade war at a presidential meeting on Saturday. The yen extended losses after the biggest drop since April.Equity benchmarks in Tokyo, Seoul and Hong Kong saw gains of almost 1%, and U.S. stock futures also climbed after reports that the current plan is for the U.S. to hold fire on hiking tariffs on another swathe of Chinese imports. Ten-year Treasury yields edged up after rising on Wednesday, while crude oil gave up a slice of its recent jump. Gold prices remain lower after giving up some of its surge since mid-June. The yuan edged up offshore.The Saturday sit-down between Presidents Donald Trump and Xi Jinping in Osaka, Japan, looms as a pivotal event for markets, with the reports about a tariff pause contrasting with Trump’s own indications that more hikes in duties are possible. Meantime, traders are assessing the prospect for the Federal Reserve to cushion the outlook with interest-rate cuts, though prominent dove James Bullard raised doubts about a half-point reduction.“We should not expect too much from the Osaka meeting,” Christian Nolting, global chief investment officer at Deutsche Bank Wealth Management told Bloomberg TV. “To be overly optimistic could be on the wrong side for this weekend.”Elsewhere, Bitcoin traded close to $13,000 after gaining about 50% this month.These are the main moves in markets:StocksFutures on the S&P 500 Index rose 0.3% at 1:32 p.m. in Tokyo. The underlying gauge fell 0.1% Wednesday.Japan’s Topix index rose 0.9%.Hong Kong’s Hang Seng added 1.1%.The Shanghai Composite rose 0.9%.South Korea’s Kospi index added 0.8%.Euro Stoxx 50 futures advanced 0.3%. CurrenciesThe yen dipped 0.3% to 108.07 per dollar.The offshore yuan rose 0.1% to 6.8814 per dollar.The Bloomberg Dollar Spot Index added 0.1%.The euro slid 0.2% to $1.1351.BondsThe yield on 10-year Treasuries rose to 2.06%.Australia’s 10-year bond yield added about seven basis points to 1.35%.CommoditiesWest Texas Intermediate crude slipped 0.5% to $59.09 a barrel.Gold fell 0.3% to $1,405.44 an ounce.\--With assistance from Vildana Hajric, Randall Jensen and Nancy Moran.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, Ravil ShirodkarFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
https://finance.yahoo.com/news/asia-stocks-open-mixed-treasuries-214412808.html?.tsrc=rss