Asian shares falter as Trump-Xi trade jitters build

Asian shares stumbled on Friday amid rising doubts that a highly anticipated meeting between U.S. President Donald Trump and Chinese President Xi Jinping this weekend could lead to an easing of trade tensions.

Asian Shares

  • Chinese blue chips (CSI300) fell 0.49%.
  • Hong Kong’s Hang Seng lost 0.59%.
  • Australian shares (AXJO) were off 0.3%.
  • U.S S&P 500 e-mini stock futures (ESc1).
  • The S&P 500 (SPX) rose 0.38% and the Nasdaq Composite added 0.73%.
  • The Dow Jones Industrial Average (DJI) eased 0.04%.

Currency Markets.

  • The dollar was 0.19% lower against the safe-haven yen at 107.57.
  • The euro was flat, buying $1.1368.
  • The dollar index, which tracks the greenback against a basket of six major rivals, was also virtually flat at 96.197 after hitting three-month lows earlier this week.

Commodity

In commodity markets, trade worries continued to weigh on oil.

  • U.S. crude (CLc1) losing 0.57% to $59.09 a barrel and global benchmark.
  • Brent crude (LCOc1) down 0.56% to $66.18 per barrel.
  • Spot gold was last traded at $1,420.35 per ounce, up 0.79%.

Bonds

  • Highlighting mixed market views on the outlook for the weekend’s Sino-U.S. talks, yields on benchmark 10-year Treasury notes (US10YT=RR) rose to 2.0123%, compared with a U.S. close of 2.005% on Thursday, despite the reversal in equities.
  • The two-year yield (US2YT=RR) was flat at 1.7409%, close to recent lows, reflecting near certainty that the Federal Reserve will cut benchmark interest rates in July.

Source

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