Asian stocks track Chinese gains
Asian stocks followed a firmer Chinese lead on Wednesday after a report showed growth in the country’s service sector accelerating despite broader economic headwinds, while the pound halted its decline on hopes a no-deal Brexit may yet be averted.
- The Shanghai Composite Index added 0.3% while the blue-chip CSI300.
- MSCI’s index of Asia-Pacific shares outside Japan snapped two days of losses and gained 0.6%.
- South Korea’s KOSPI advanced 0.4% and Japan’s Nikkei added 0.2%.
- Futures on the S&P 500 Index advanced 0.7%. The underlying gauge sank 0.7% on Tuesday.
- Euro Stoxx 50 futures added 0.2%.
- The dollar index against a basket of six major currencies stood at 98.933.
- The euro was steady at $1.0975 after sliding to a 28-month low of $1.0926 overnight.
- The British pound rose 0.2% to $1.2105.
- The yen fell 0.1% to 106.07 per dollar.
- The yield on 10-year Treasuries rose one basis point to 1.47%.
- Australia’s 10-year yield dipped to 0.92%
- West Texas Intermediate crude rose 0.5% to $54.23 a barrel.
- Gold fell 0.3% to $1,541.29 an ounce.