Asia Stocks Mixed; Dollar Holds Gain Before Powell

Asian stocks traded mixed Friday as U.S.-China trade negotiations produced no breakthrough, while the dollar retained gains ahead of an address from Federal Reserve chairman Jerome Powell.

Shares in Japan and Australia rose, while Hong Kong, Chinese and South Korean stocks declined. The yuan ticked up after China said talks with the U.S. were constructive and honest. The dollar held gains and Treasuries steadied, with attention now shifting to Powell’s scheduled comments at Jackson Hole later Friday. Oil climbed and U.S. futures were little changed.

The MSCI Asia Pacific Index fell 0.3 percent to 162.75 as of 10:37 a.m. Tokyo time.

Topix index rose 0.3 percent., Hong Kong’s Hang Seng Index declined 0.8 percent, Kospi index fell 0.3 percent, Australia’s S&P/ASX 200 Index rose 0.2 percent.

The Japanese yen fell 0.1 percent to 111.35 per dollar. The euro rose 0.1 percent to $ 1.1549. The Bloomberg Dollar Spot Index was little changed at 1,186.70.

Source: Bloomberg

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U.S. Stocks Gain Before Trade Talks; Dollar Drops

U.S. equities rose as investors digested the latest raft of earnings, and before key trade talks between America and the European Union. The dollar declined against most of its major peers.

The S&P 500 Index gained 0.2 percent as of 12:19 p.m. New York time. The S&P 500 Index pushed higher Wednesday afternoon, while the Dow Jones Industrial Average pared losses amid lower-than-average volume. The Nasdaq Composite saw steady gains.

Earnings reports have been choppy. Coca-Cola’s results beat forecasts, while Fiat Chrysler’s came in below expectations. General Motors shares plunged after the carmaker cut its profit forecast on surging metals prices. And AT&T hit a six-year low after adding fewer wireless customers than anticipated.

Source : Bloomberg

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European Stocks Edge Higher Before Earnings; Pound Steadies

European stocks drifted higher on Tuesday and U.S. equity futures pointed to a rise at the opening amid a lull in the trade war and as investors studied the coming earnings season. The pound steadied after Monday’s decline as the U.K.’s Theresa May battled to reassert control over her government.

Energy and resource companies were the biggest winners in the Stoxx Europe 600 Index, while futures on the S&P 500, Nasdaq and Dow pointed to a firmer open.

The Stoxx Europe 600 Index increased 0.1 percent as of 8:16 a.m. London time, hitting the highest in more than three weeks.

Source: Bloomberg

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