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, and posted modest gains in Hong Kong, China and South Korea. European and U.S. futures ticked higher after the S&P 500 ended Thursday at a fresh record. 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. The dollar slipped.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 3 p.m. in Tokyo. The underlying gauge rose 0.2% Thursday.Japan’s Topix index fell 0.2% at close.Hong Kong’s Hang Seng rose 0.4%.South Korea’s Kospi index rose 0.3%.Shanghai Composite Index gained 0.7%.Australia’s S&P/ASX 200 Index fell 0.3%.CurrenciesThe yen was at 108.34 per dollar, up 0.2%.The offshore yuan held at 6.8733 per dollar.The euro bought $1.1272, up 0.2%.The British pound edged up 0.2% to $1.2545.BondsThe yield on 10-year Treasuries dipped one basis point, at 2.13%.Australia’s 10-year yield added eleven basis points to 1.44%.CommoditiesWest Texas Intermediate crude added 0.7% to $60.60 a barrel.Gold was at $1,408 an ounce, up 0.3%.\--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, Cormac Mullen, Ravil ShirodkarFor more articles like this, please visit us at©2019 Bloomberg L.P.

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