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11-26-2019, 08:30 PM
Asian Stocks Trade Mixed; U.S. Treasuries Flat: Markets Wrap
(Bloomberg) -- Asian stocks traded mixed Wednesday as investors monitored developments on U.S.-China trade talks. Treasuries were little changed.Benchmarks in Japan, Australia and South Korea eked out modest gains, with Hong Kong little changed. China shares edged down. The S&P 500, Dow Jones Industrial Average and Nasdaq Composite all climbed to fresh records Tuesday. President Donald Trump declared that talks with China on the first phase of a trade deal were near completion after negotiators from both sides spoke by phone. The dollar was little changed.Optimism that an interim trade deal is just around the corner has pushed a global stock benchmark near an all-time high. The trade negotiations have been complicated by strong support in the U.S. for pro-democracy demonstrators in Hong Kong.“We’re getting to the point where they need to show us the money,” said Michael Reynolds, investment strategy officer at Glenmede Trust Co. “Talk is one thing but an actual deal on paper, pen to paper, is what is going to dramatically change the market narrative.”Australian 10-year bond yields ticked lower after Reserve Bank of Australia Governor Philip Lowe said that quantitative easing is an option should the benchmark interest rate drop another half percentage point, though that’s unlikely to happen in the near term.Here are some key events coming up this week:U.S. consumer spending data is due Wednesday, along with GDP, jobless claims and durable goods.The U.S. celebrates Thanksgiving on Thursday, when equity and bond markets will be shut.Euro area inflation for October is due Friday.The Bank of Korea sets policy on Friday.These are the main moves in markets:StocksTopix index rose 0.3% as of 10:30 a.m. in Tokyo.Hong Kong’s Hang Seng Index added 0.1%.The Shanghai Composite Index dipped 0.1%.Australia’s S&P/ASX 200 Index gained 0.7%.South Korea’s Kospi index added 0.4%.Futures on the S&P 500 were flat. The underlying gauge rose 0.2% on Tuesday.CurrenciesThe yen was at 109.13 per dollar, down 0.1%.The offshore yuan remained at 7.0194 per dollar.Bloomberg Dollar Spot Index edged higher.The euro bought $1.1019, little changed.The pound was at $1.2857, down 0.1%.BondsThe yield on 10-year Treasuries rose one basis point to 1.75%.Australia’s 10-year yield fell three basis points to 1.05%.CommoditiesWest Texas Intermediate crude slid 0.3% to $58.21 a barrel.Gold was steady at $1,460.27 an ounce.\--With assistance from Vildana Hajric and Claire Ballentine.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 PapucFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
https://finance.yahoo.com/news/asia-stocks-see-modest-gains-001937668.html?.tsrc=rss
(Bloomberg) -- Asian stocks traded mixed Wednesday as investors monitored developments on U.S.-China trade talks. Treasuries were little changed.Benchmarks in Japan, Australia and South Korea eked out modest gains, with Hong Kong little changed. China shares edged down. The S&P 500, Dow Jones Industrial Average and Nasdaq Composite all climbed to fresh records Tuesday. President Donald Trump declared that talks with China on the first phase of a trade deal were near completion after negotiators from both sides spoke by phone. The dollar was little changed.Optimism that an interim trade deal is just around the corner has pushed a global stock benchmark near an all-time high. The trade negotiations have been complicated by strong support in the U.S. for pro-democracy demonstrators in Hong Kong.“We’re getting to the point where they need to show us the money,” said Michael Reynolds, investment strategy officer at Glenmede Trust Co. “Talk is one thing but an actual deal on paper, pen to paper, is what is going to dramatically change the market narrative.”Australian 10-year bond yields ticked lower after Reserve Bank of Australia Governor Philip Lowe said that quantitative easing is an option should the benchmark interest rate drop another half percentage point, though that’s unlikely to happen in the near term.Here are some key events coming up this week:U.S. consumer spending data is due Wednesday, along with GDP, jobless claims and durable goods.The U.S. celebrates Thanksgiving on Thursday, when equity and bond markets will be shut.Euro area inflation for October is due Friday.The Bank of Korea sets policy on Friday.These are the main moves in markets:StocksTopix index rose 0.3% as of 10:30 a.m. in Tokyo.Hong Kong’s Hang Seng Index added 0.1%.The Shanghai Composite Index dipped 0.1%.Australia’s S&P/ASX 200 Index gained 0.7%.South Korea’s Kospi index added 0.4%.Futures on the S&P 500 were flat. The underlying gauge rose 0.2% on Tuesday.CurrenciesThe yen was at 109.13 per dollar, down 0.1%.The offshore yuan remained at 7.0194 per dollar.Bloomberg Dollar Spot Index edged higher.The euro bought $1.1019, little changed.The pound was at $1.2857, down 0.1%.BondsThe yield on 10-year Treasuries rose one basis point to 1.75%.Australia’s 10-year yield fell three basis points to 1.05%.CommoditiesWest Texas Intermediate crude slid 0.3% to $58.21 a barrel.Gold was steady at $1,460.27 an ounce.\--With assistance from Vildana Hajric and Claire Ballentine.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 PapucFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
https://finance.yahoo.com/news/asia-stocks-see-modest-gains-001937668.html?.tsrc=rss