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11-24-2019, 04:31 PM
Stocks in Asia Face Mixed Start; Yen, Yuan Steady: Markets Wrap
(Bloomberg) -- Stocks in Asia were set for a mixed start to the trading week as investors monitored the latest on U.S.-China trade. Currencies saw muted moves in early trading.Futures edged up on equities in Japan and Australia, while Hong Kong contracts ticked lower. The pound advanced, reversing some of its decline from Friday. In the latest on trade: China said over the weekend it will raise penalties on intellectual property violations as it tries to smooth over one of the sticking points in discussions with the U.S. The S&P 500 nudged up Friday after President Donald Trump said he was “very close” to a trade pact with China.Global stocks are on course to round out a third month of gains, though a mixed picture on trade last week capped sentiment and left bond yields making a further move lower. The 10-year benchmark U.S. yield has steadied around 1.77%, down from the three-month high of 1.97% touched in early November.“Ever since the U.S. trade war with China started it’s gone through periods of escalation then a truce,” said Shane Oliver, head of investment strategy at AMP Capital Investors Ltd. “We still lean to the view that a deal will be reached. But the risks are high and it may get delayed into next year. The key to watch in the near term is the fate of the scheduled Dec. 15 tariff hike.”Here are some key events coming up this week:Federal Reserve Chairman Jerome Powell speaks on Monday at the Greater Providence Chamber of Commerce annual dinner in Providence, Rhode Island.Alibaba starts trading in Hong Kong on Tuesday.U.S. consumer spending data is due Wednesday, along with jobless claims and durable goods.The U.S. celebrates Thanksgiving on Thursday, when equity and bond markets will be shut.The Bank of Korea sets policy on Friday.These are the main moves in markets:StocksThe S&P 500 Index rose 0.2% on Friday.Futures on Japan’s Nikkei 225 added 0.2%.Hang Seng futures slid 0.2%.Futures on Australia’s S&P/ASX 200 Index rose 0.2%.CurrenciesThe yen was steady at 108.68 per dollar.The offshore yuan held at 7.0432 per dollar.The Bloomberg Dollar Spot Index rose 0.2% on Friday.The euro bought $1.1020, little changed.The British pound added 0.2% to $1.2861.BondsThe yield on 10-year Treasuries was little changed at 1.77% on Friday.CommoditiesWest Texas Intermediate crude was little changed at $57.77 a barrel.Gold slipped 0.2% to $1,461.93 an ounce.\--With assistance from David Wilson.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, James LuddenFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
https://finance.yahoo.com/news/stocks-asia-face-mixed-start-204816541.html?.tsrc=rss
(Bloomberg) -- Stocks in Asia were set for a mixed start to the trading week as investors monitored the latest on U.S.-China trade. Currencies saw muted moves in early trading.Futures edged up on equities in Japan and Australia, while Hong Kong contracts ticked lower. The pound advanced, reversing some of its decline from Friday. In the latest on trade: China said over the weekend it will raise penalties on intellectual property violations as it tries to smooth over one of the sticking points in discussions with the U.S. The S&P 500 nudged up Friday after President Donald Trump said he was “very close” to a trade pact with China.Global stocks are on course to round out a third month of gains, though a mixed picture on trade last week capped sentiment and left bond yields making a further move lower. The 10-year benchmark U.S. yield has steadied around 1.77%, down from the three-month high of 1.97% touched in early November.“Ever since the U.S. trade war with China started it’s gone through periods of escalation then a truce,” said Shane Oliver, head of investment strategy at AMP Capital Investors Ltd. “We still lean to the view that a deal will be reached. But the risks are high and it may get delayed into next year. The key to watch in the near term is the fate of the scheduled Dec. 15 tariff hike.”Here are some key events coming up this week:Federal Reserve Chairman Jerome Powell speaks on Monday at the Greater Providence Chamber of Commerce annual dinner in Providence, Rhode Island.Alibaba starts trading in Hong Kong on Tuesday.U.S. consumer spending data is due Wednesday, along with jobless claims and durable goods.The U.S. celebrates Thanksgiving on Thursday, when equity and bond markets will be shut.The Bank of Korea sets policy on Friday.These are the main moves in markets:StocksThe S&P 500 Index rose 0.2% on Friday.Futures on Japan’s Nikkei 225 added 0.2%.Hang Seng futures slid 0.2%.Futures on Australia’s S&P/ASX 200 Index rose 0.2%.CurrenciesThe yen was steady at 108.68 per dollar.The offshore yuan held at 7.0432 per dollar.The Bloomberg Dollar Spot Index rose 0.2% on Friday.The euro bought $1.1020, little changed.The British pound added 0.2% to $1.2861.BondsThe yield on 10-year Treasuries was little changed at 1.77% on Friday.CommoditiesWest Texas Intermediate crude was little changed at $57.77 a barrel.Gold slipped 0.2% to $1,461.93 an ounce.\--With assistance from David Wilson.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, James LuddenFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
https://finance.yahoo.com/news/stocks-asia-face-mixed-start-204816541.html?.tsrc=rss