Left Menu
Development News Edition

GLOBAL MARKETS-Asian shares up from 3-week lows, but trade uncertainty nags

GLOBAL MARKETS-Asian shares up from 3-week lows, but trade uncertainty nags
Image Credit: Storyblocks

Asian equities rose on Friday, bouncing from a three-week low touched a day earlier, but gains were capped by persistent worries over the status of trade negotiations between China and the United States. Early in the Asian trading day, MSCI's broadest index of Asia-Pacific shares outside Japan was up 0.12%. The index had fallen as much as 1.41% on Thursday, hitting its lowest level since October 30, on concerns that U.S. legislation on Hong Kong threatened to undermine trade talks between the world's two largest economies.

Australian shares were up 0.52% and Japan's Nikkei gained 0.1%. Worries that a "phase one" trade deal between the United States and China might not occur until next year weighed on investor sentiment on Wall Street overnight, pulling the S&P 500 down 0.16% to 3,103.54, the Dow Jones down 0.2% to 27,766.29 and the Nasdaq Composite 0.24% lower to 8,506.21.

Those losses were tempered by China saying it was willing to work with the United States to resolve core trade concerns, and a report in the Wall Street Journal that China has invited top U.S. trade negotiators for a new round of face-to-face talks in Beijing. "I was ready to give up on a trade deal yesterday. But it seems the Chinese haven't so I, we, mustn't," said Greg McKenna, strategist at McKenna Macro.

But analysts at ANZ said in a morning note that whipsawing hopes over a deal were starting to wear on investors in the 16th month of the U.S.-China trade war. "It's fair to say that some signs of trade-headline fatigue are emerging in markets," analysts at ANZ said in a note.

While Asian stocks ticked higher, U.S. Treasury yields were broadly unchanged after snapping three sessions of declines on Thursday. The yield on benchmark 10-year Treasury notes was at 1.7723%, just a hair higher than its U.S. close of 1.772% on Thursday. The policy-sensitive two-year yield, was at 1.6046% compared with a U.S. close of 1.605%.

In currency markets, the safe-haven yen was a touch stronger, with the dollar dropping 0.05% to 108.58. The euro was up 0.05% at $1.1063. The dollar index, which tracks the greenback against a basket of six major rivals, was unchanged at 97.993.

Oil prices retreated after hitting two-month highs on a Reuters report that the Organization of the Petroleum Exporting Countries and its allies are likely to extend existing output cuts until mid-2020. U.S. crude dipped 0.41% to $58.34 a barrel.

Spot gold edged up 0.04% to fetch $1,464.70 per ounce.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)



Hyderabad Encounter: Time to review modern judiciary and restore people’s confidence

Its probably for the first time in the history of independent India, the parliamentarians, chief ministers and ministers in the Union and State governments are openly supporting an encounter. This indicates the people from top to bottom hav...

What happens to your outstanding loans if the bank falls?

... ...

Time for a change! Innovations to stop the growing plastic pollution

As the planet is drowning in plastic pollution, many new innovative approaches and solutions have emerged to effectively deal with the menace....

How to avoid fake universities and fishing bait like Farmington

As education sharks are roaming around to prey, we present a guide on how to mitigate hunters and reach to a genuine universityinstitute. In this era of commercialization of education, the fake universities and economic frauds in educationa...


Latest News

Boxing-Joshua takes back heavyweight titles on unanimous points decision

Britains Anthony Joshua beat Andy Ruiz Jr on a unanimous points decision in a heavyweight world championship rematch in Saudi Arabia on Saturday to seize back the titles he lost to his Mexican-American opponent in a shock upset last June. T...

UPDATE 3-Saudi airman may have become radicalized before U.S. Navy base attack

The Saudi airman accused of killing three people at a U.S. Navy base in Florida appeared to have posted criticism of U.S. wars and quoted slain al Qaeda leader Osama bin Laden on social media hours before the shooting spree, according to a ...


Here are the top stories and upcoming coverage plans for Reuters text service as of 10 p.m. GMT6 a.m. SGT. For a full schedule of news and events, go to our editorial calendar on Reuters Connect httpswww.reutersconnect.complanning. TOP STOR...

Hyderabad: Telangana state cabinet meeting on Dec 11

State cabinet meeting of Telangana Government will be held on December, 11.Chaired by Telangana Chief Minister K Chandrashekar Rao, this cabinet meeting will be organised at Pragathi Bhavan on Wednesday evening.In the last cabinet meeting h...

Give Feedback