Asian Stocks Open Mixed; Treasury Yields Decline: Markets Wrap

(Bloomberg) -- Stocks in Asia opened mixed Tuesday as investors awaited further developments on the U.S.-China trade front and kept an eye on the situation in Hong Kong. Treasuries recouped some of their recent losses. Stocks in Tokyo were little changed, while they slipped in Sydney and nudged higher in Seoul. Futures pointed higher in Hong Kong, where shares dropped as much as 3% Monday as violence escalated in the strife-ridden city. U.S. futures were little changed after the S&P 500 Index fell for the first time in four sessions in holiday-thinned trading on Monday. Oil was above $56 a barrell in New York. Investors are on the lookout for any headlines that could point to a first-phase trade deal between the U.S. and China after mixed messages from the White House and delayed meetings heightened concern the negotiations are stumbling.“Markets have been skittish,” said Matt Forester, chief investment officer at BNY Mellon’s Lockwood Advisors. “We will need more concrete information about the structure and timing of any kind of final trade arrangement, but in the meantime we are operating on scraps of information.”Meantime, clashes in Hong Kong, where police shot a protester on Monday, have deepened concerns about the outlook for the Asian financial hub. Hong Kong Chief Executive Carrie Lam speaks on Tuesday morning.Elsewhere, the pound held gains following a boost to Prime Minister Boris Johnson’s prospects of gaining a majority in next month’s election, care of a campaign-strategy shift by the Brexit Party.Here are some key events coming up this week:Earnings include Tencent, Nissan Motor, Japan Post Bank and Mitsubishi UFJ.New Zealand’s policy decision is due Wednesday, with market pricing tilting in favor of an interest-rate cut.Fed Chairman Jerome Powell addresses the Joint Economic Committee of Congress, in Washington Wednesday. Minneapolis Fed President Neel Kashkari speaks in La Crosse, Wisconsin.Thursday brings China retail sales and industrial production data.U.S. retail sales on Friday are forecast to rebound in October after unexpectedly falling the prior month.These are the main moves in markets:StocksJapan’s Topix index were flat as of 9:35 a.m. in Tokyo.Australia’s S&P/ASX 200 Index fell 0.5%.South Korea’s Kospi index rose 0.3%.Hong Kong’s Hang Seng Index futures climbed 0.7% earlier.S&P 500 futures were little changed. The S&P 500 Index fell 0.2%.CurrenciesThe yen traded at 109.08 per dollar, little changed.The offshore yuan was steady at 7.0040 per dollar.The euro was at $1.1035.The British pound traded at $1.2863 after jumping 0.6% Monday.BondsU.S. 10-year Treasury yield fell two basis points to 1.92%.Australia’s 10-year bond yield fell one basis point to 1.28%.CommoditiesWest Texas Intermediate crude lost 0.3% to $56.67 a barrel.Gold traded at $1,456.74 an ounce.To contact the reporter on this story: Andreea Papuc in Sydney at apapuc1@bloomberg.netTo contact the editor responsible for this story: Christopher Anstey at canstey@bloomberg.netFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.

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