Asian stocks mixed amid trade/geopolitical pessimism, eyes on Trump’s speech
|- Asian shares flash mixed messages as investors keep guessing about US-China trade, Hong Kong protests.
- Bonds stay under pressure after a long weekend.
- US President Trump’s say on the US-China and the US-EU trade relations awaited.
Uncertainty surrounding the US-China trade relations and protests in Hong Kong welcomes the United States (US) bond traders on Tuesday. Though, rising odds for the Reserve Bank of New Zealand’s (RBNZ) rate cuts and China’s opening up of economy, not to forget likely good news for the EU automobiles, keep share declines under check.
As a result, the MSCI’s index of Asia-Pacific shared ex-Japan mark near 0.40% profits while Japan’s NIKKEI cheers comments from the Prime Minister (PM) Shinzo Abe conveying the need for extra budget to assist economic recovery. Further, Chinese markets seem to benefit from press statements that signal further opening up for the world’s second-largest economy and stabilization of the domestic currency.
Moving on, markets in New Zealand took weaker than previous RBNZ Inflation Expectations as a signal of tomorrow’s rate cut while Australia’s ASX 200 and Hong Kong’s HANG SENG struggles amid the increasing doubts over US-China trade relations and the governments next action after protesters occupy junction outside Landmark mall in Central part.
The US 10-year Treasury yields seesaw near 1.92% whereas Oil recovers on tensions emanating from Iran but Gold takes the rounds to multi-month low amid US dollar (USD) strength.
Investors now look forward to the US President Donald Trump’s speech at the New York’s Economic Club luncheon for fresh details of the US trade relationship with China and the European Union. It should also be noted that few key Federal Reserve policymakers, including the Vice-Chair Richard Clarida, are also up for speaking and may entertain momentum traders during the rest of the day.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.