Asian stocks and U.S. equity futures climbed on Monday
Asian stocks and U.S. equity futures climbed on Monday after President Donald Trump suspended his plans for U.S. tariffs on Mexico. Treasuries fell as demand for havens sank.
- The MSCI Asia Pacific Index rose 0.9% as of 2:00 p.m. in Tokyo.
- Japan’s Topix Index rose 1.6%.
- Shanghai Composite gained 1%.
- Hang Seng gained 2.1%.
- Kospi rose 1.2%.
- S&P 500 futures rose 0.3%. The S&P 500 rose 1.1% Friday.
“The yuan would weaken further should there be no summit meetings between the two countries at an upcoming G20 meeting in Osaka,” Nomura’s Kaku said.
- The yen fell 0.4% to 108.66 per dollar.
- The euro fell 0.2% to $1.1307.
- The offshore yuan was at 6.9525 per dollar, down 0.1%.
- Mexico’s peso jumped 2.2% to 19.20 per dollar.
- The Bloomberg Dollar Spot Index was little changed after dropping 0.3% Friday.
- The yield on 10-year Treasuries rose about four basis points, to 2.12%.
- Japan’s 10-year yield fell less than one basis point to minus 0.125%.
Oil prices extended gains after Saudi Arabia said on Friday OPEC and non-member Russia were close to agreeing to extend an output production cut beyond June and as Wall Street rallied.
- Brent futures rose 0.25% to $63.45 per barrel.
- U.S. crude futures gained 0.57% to $54.30.
- Gold fell 0.9% to $1,328.58 an ounce.