Asian Shares higher on Tuesday
Asian shares were traded higher on Tuesday after two days of loses as U.S. 10 year Treasury yields edged up, but the outlook remained murky as investors weighed the odds of whether the U.S. economy is in danger of slipping into recession.
- MSCI’s broadest index of Asia-Pacific shares outside Japan rebounded 0.2 percent.
- E-minis for the S&P 500 tacking on one-third of a percent.
- FTSE futures up 0.3 percent
- Japan’s Nikkei jumped 2.1 percent.
- China’s blue-chip CSI300 bucked the trend, giving up early gains to fall 0.7 percent.
- Hong Kong’s Hang Seng Index was slightly lower.
- S&P 500 ending with a small loss of 0.08 percent
- The euro stood at $1.1305.
- The dollar was a shade higher at 110.14 yen.
- The British pound stood at $1.3180.
“While dollar/yen hasn’t fallen greatly and things aren’t in panic mode, a sense of caution about where things are going has taken hold,” said Shusuke Yamada, chief Japan currency and equity strategist at Bank Of America Merrill Lynch.
Oil prices hovered below their recent four-month peaks, as the prospect of tighter U.S. crude supply was offset by concerns about a slowdown in global economic growth.
- U.S. crude futures traded at $59.26 per barrel.
- Brent futures were up 0.2 percent at $67.37.
- The 10-year U.S. Treasury yield edged up to 2.442 percent, having shed 5 basis points on Monday.