Bloomberg / Asian stocks advanced as worries surrounding a trade war dissipated and U.S. equities recouped losses. The dollar was steady.
Equities rose in Tokyo, Sydney and Seoul, while futures signaled a firmer start for the Hong Kong market after White House officials suggested President Donald Trump’s tariff plan will spare select countries from much of the impact. The S&P 500 Index finished flat after falling as much as 1 percent. Investors spooked by the departure of pro-trade adviser Gary Cohn took solace in comments from White House Council of Economic Advisers Chairman Kevin Hassett that indicated the trade policy is not yet finalized.
Markets this week have been gripped by geopolitical developments as the possibility of an escalating global trade war tested traders’ nerves. Attention now turns back to central banks with investors honing in first on the commentary emanating from the European Central Bank’s policy meeting Thursday, then to the Bank of Japan, which concludes its discussions Friday.
Goldman’s Jan Hatzius discusses the impact of Gary Cohn’s departure from the White House.
Source: Bloomberg Elsewhere, Bitcoin tumbled amid fresh pressure from the U.S. securities regulator. Crude oil traded above $61 a barrel after tumbling more than 2 percent. Turkey’s lira fell as Moody’s cut the country’s credit rating.
Terminal users can read more in our markets blog.
Here are some key events coming up this week:
The Chinese People’s Political Consultative Conference runs through March 15 and overlaps with the National People’s Congress meetings in Beijing, through March 20. China reports on its trade balance on Thursday. The ECB isn’t expected to change policy on Thursday, but the Governing Council may discuss a change to pave the way for the end of quantitative easing. BOJ monetary policy decision and briefing on Friday. U.S. monthly payrolls data come Friday. And these are the main moves in markets:
Stocks The Topix index was up 0.6 percent and the Nikkei 225 Stock Average rose 0.7 percent as of 9:26 a.m. in Tokyo. Australia’s S&P/ASX 200 Index rose 0.4 percent. South Korea’s Kospi index was up 0.5 percent. Futures on Hong Kong’s Hang Seng Index gained 0.2 percent, though those contracts stopped trading prior to the bulk of Wednesday’s rally in the S&P 500. Futures on the S&P 500 fell 0.1 percent. The MSCI Asia Pacific Index rose 0.3 percent. Currencies The Bloomberg Dollar Spot Index was little changed. The Japanese yen was steady at 106.10 per dollar. The euro was flat at $1.2414. The British pound rose 0.1 percent to $1.3908. Bonds The yield on 10-year Treasuries was little changed at 2.88 percent. Australia’s 10-year yield rose two basis points to 2.82 percent. Commodities West Texas Intermediate crude inched up 0.3 percent to $61.31 a barrel after dropping 2 percent. Gold was steady at $1,325.81 an ounce. — With assistance by Sarah Ponczek
GLOBALES: Stocks Gain in Asia as Protectionism Worries Abate: Markets Wrap
Con Información de Bloomberg
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