Stocks Trade Mixed After Muted U.S. Session: Markets Wrap

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Stocks Trade Mixed After Muted U.S. Session: Markets Wrap(Bloomberg) -- Stocks in Asia traded mixed Friday as trade-tensions resurfaced. Treasuries held losses seen after a U.S. inflation reading that came in above expectations.Shares edged lower in Australia and Japan, were little changed in Hong Kong and China, and ticked higher in South Korea. Futures on the S&P 500 saw a modest rise after U.S. stocks ended Thursday at a fresh all-time high. Earlier, a tweet from President Donald Trump, complaining about China trade policy, sent equities into a fleeting swoon and showed how sensitive the market remains to trade-related developments. Yields on 10-year Treasuries remained near a one-month high, while Australian bonds tracked the slide in U.S. debt.While the risk-asset rally got a fresh boost on the back of dovish comments from Fed Chair Jerome Powell, the strong CPI print Thursday offers a potential complication to U.S. policymakers prior to its decision at the end of the month. Traders pulled back bets on a half-point cut in July after the inflation data.Meanwhile, an unexpected contraction in Singapore’s economy in the second quarter sent a warning shot to the world economy on the impact of the ongoing trade tensions. The data came after Trump complained that China hasn’t increased its purchases of American farm products, a promise he said he had secured at his G-20 meeting with the country’s president Xi Jinping last month.Elsewhere, oil ticked higher as investors weighed the threat of a tropical storm off the U.S. Gulf Coast against the prospects of more trade conflict.Here are the main moves in markets:StocksFutures on the S&P 500 Index rose 0.2% as of 10:55 a.m. in Hong Kong. The underlying gauge rose 0.2% Thursday.Japan’s Topix index fell 0.2%.Hong Kong’s Hang Seng rose 0.2%.South Korea’s Kospi index rose 0.3%.Shanghai Composite Index was little changedAustralia’s S&P/ASX 200 Index fell 0.2%.CurrenciesThe yen was at 108.38 per dollar, up 0.1%.The offshore yuan held at 6.8757 per dollar.The euro bought $1.1263, up 0.1%.The British pound edged up 0.1% $1.2534.BondsThe yield on 10-year Treasuries dipped one basis point, at 2.12%.Australia’s 10-year yield added ten basis points to 1.43%.CommoditiesWest Texas Intermediate crude added 0.4% to $60.46 a barrel.Gold was at $1,409 an ounce, up 0.4%.\--With assistance from Vildana Hajric and Olivia Rinaldi.To contact the reporter on this story: Adam Haigh in Sydney at ahaigh1@bloomberg.netTo contact the editors responsible for this story: Christopher Anstey at canstey@bloomberg.net, Cormac Mullen, Ravil ShirodkarFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.


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