- 09Jan2019
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Stock Market News: Japan, South Korea, Hong Kong Indexes Climb More Than 1%
Asian stocks rose on Wednesday amid optimism on the potential for progress in trade talks between Washington and Beijing. Meanwhile, the dollar stayed lower after President Donald Trump gave little indication of a quick end to a paralyzing political dispute over his proposed wall on the Mexican border.
Equities in Hong Kong, South Korea and Japan led gains after all major U.S. indexes climbed. Trump is eager to strike a deal to boost financial markets that have been roiled by the trade war, according to Bloomberg. Earlier, he tweeted that talks are “going very well” as negotiations continued with China. Crude climbed above $50 a barrel for the first time this year and Treasuries steadied.
Developments in U.S.-China trade relations remain a focal point at the same time as parts of the American government are shut down with lawmakers unable to agree on a budget proposal that Trump will sign. Trump demanded Congress provide billions more for border security in a prime-time address to the nation, stopping short of declaring a national emergency.
“We could get some more stabilization and a floor in the market if we make strides towards an agreement” on trade, Kate Moore, chief equity strategist at BlackRock Inc., said on Bloomberg Television. “But this is going to be an issue overhanging markets I believe for multiple years.”
These are the main moves in markets:
Stocks
- Japan’s Topix index climbed 1.2% as of 11:28 a.m. in Tokyo.
- Australia’s S&P/ASX 200 Index rose 0.9%.
- South Korea’s Kospi index added 1.7%.
- Hong Kong’s Hang Seng Index gained 2%.
- The Shanghai Composite rose 1.5%.
- S&P 500 futures ticked 0.4% higher. The S&P 500 Index rose 1%.
Currencies
- The yen slipped 0.1% to 108.88 per dollar.
- The offshore yuan gained 0.2% to 6.8432 per dollar.
- The Bloomberg Dollar Spot Index fell 0.1%.
- The euro was at $1.1451, up 0.1%.
- The pound added 0.1% to $1.2735.
Bonds
- The yield on 10-year Treasuries held at 2.73%.
- Australia’s 10-year bond yield rose four basis points to 2.34%.
Commodities
- West Texas Intermediate crude rose 1.4% to $50.48 a barrel.
- Gold was stable at $1,284.73 an ounce
Source: Bloomberg
- 9 Jan, 2019
- NEBA Financial Solutions
- 0 Comments
- Asia, Hang Seng Index, Hong Kong, Japan, Market News, South Korea, Stocks,
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