Asian shares recover from 3-week lows
Asian equities posted a mild bounce on Friday from three-week lows hit the previous day, with persistent worries over the status of trade negotiations between China and the United States limiting the gains.
- MSCI’s broadest index of Asia-Pacific shares outside Japan .MIAPJ0000PUS climbed 0.12%, recovering from Thursday’s drop of as much as 1.4%.
- Chinese blue-chip shares .CSI300, which had opened higher, turned negative later in the morning, and were last down 0.82%.
- Australian shares gained 0.55% and Japan’s Nikkei .N225 was up 0.43%.
- S&P 500 .SPX down 0.16% to 3,103.54, the Dow Jones .DJI down 0.2% to 27,766.29 and the Nasdaq Composite .IXIC 0.24% lower to 8,506.21.
- In currency markets, the yen was barely stronger, with the dollar buying 108.61 JPY.
- The euro EUR= was up 0.05% at $1.1063.
- The dollar index .DXY, which tracks the greenback against a basket of six major rivals, was off 0.04% at 97.958.
- The yield on benchmark 10-year Treasury notes US10YT=RR was at 1.7774%, up from its U.S. close of 1.772% on Thursday.
- The policy-sensitive two-year yield US2YT=RR was at 1.6087% compared with a U.S. close of 1.605%.
- Oil prices retreated after hitting two-month highs following a Reuters report that the Organization of Petroleum Exporting Countries and its allies are likely to extend existing output cuts until mid-2020.
- U.S. West Texas Intermediate crude CLc1 dipped 0.68% to $58.18 a barrel and global benchmark Brent crude LCOc1 was down 0.58% at $63.60 per barrel.
- Spot gold XAU= edged up 0.04% to $1,464.74 per ounce.