Asian stocks rose; optimism about US-China trade war

Asian stocks rose in step with their global peers while safe-haven bonds retreated on Tuesday, as signs Sino-U.S. trade hostilities might be easing for now helped restore investor confidence after the previous session’s rout.

Asian Stocks

  • MSCI’s broadest index of Asia-Pacific shares outside Japan was up 0.3% after dropping 1.3% the previous day.
  • The Shanghai Composite Index advanced 1%.
  • South Korea’s KOSPI added 0.8% and Japan’s Nikkei rose 1.1%.

Currency

  • The dollar index versus a basket of six major currencies stood at 97.990, having risen about 0.5% overnight.
  • The euro was flat at $1.1100 after losing 0.4% on Monday.
  • The Australian dollar, sensitive to developments in China, Australia’s largest trading partner, dipped 0.25% to $0.6758, handing back most of Monday’s gains.

Bonds

  • The benchmark 10-year U.S. Treasury yield was at 1.523%, pulled back from a three-year low of 1.443% reached on Monday on the back of wide-spread risk aversion.
  • The Japanese 10-year government bond yield was up 2.5 basis points at minus 0.255% after plumbing minus 0.285% on Monday, its lowest since July 2016

Commodities

Crude oil prices recovered some ground as the broader markets stabilized

  • Brent crude futures were up 0.53% at $59.01 per barrel after losing 1% the previous day.
  •  U.S. crude rose 0.62% to $53.97 per barrel.

Source

Comments are closed.

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Read More

Privacy & Cookies Policy