Asian shares made guarded gains on Tuesday
Asian shares made guarded gains on Tuesday amid optimism about prospects for a Sino-U.S. trade deal, while investors were sanguine yet another vote on Brexit would still avert a hard exit for Britain.
- A holiday in Tokyo kept turnover light and MSCI’s broadest index of Asia-Pacific shares outside Japan (MIAPJ0000PUS) added a modest 0.4%.
- Futures for Japan’s Nikkei (NKc1) were trading at 22,760, compared to Monday’s index close at 22,548 (N225).
- South Korean stocks (KS11) rose 0.9% but Shanghai blue chips (CSI300) slipped 0.2%.
- E-Mini futures for the S&P 500 (ESc1) gained 0.17% and EUROSTOXX 50 futures (STXEc1) 0.14%.
- The euro paused after its recent run higher and was last trading quietly at $1.1151 (EUR=).
- Sterling held firm at $1.2980 after Prime Minister Boris Johnson failed to get a vote on his Brexit deal and will try again on Tuesday to get the first stage of a withdrawal bill through Parliament.
- In foreign exchange markets, the dollar found support against the yen at 108.64 while staying steady on a basket of currencies to 97.297 (DXY).
- Spot gold was idling at $1,484.25 per ounce.
- Oil prices were little moved as the market fretted about the health of the global economy and the future for energy demand.
- Brent crude (LCOc1) futures were down 2 cents at $58.94, while U.S. crude (CLc1) added 4 cents to $53.35 a barrel.