In Asian Equity Markets indices traded higher Friday morning. In Japan, the Nikkei 225 gained 0.87% in early trade, as shares of index heavyweight and conglomerate Softbank Group added 1.15%. The Topix index also rose 0.79%. Over in South Korea, the Kospi advanced 0.87% as industry heavyweight Samsung Electronics’ stock gained 1.17%. Australia’s S&P/ASX 200 also rose 0.28%. Overall, the MSCI Asia ex-Japan index added 0.24%. Markets in Singapore and Taiwan are closed on Friday.

 

In Currency Markets the yen rose on Friday on renewed concerns about the U.S.-China trade dispute after a report that the White House is delaying a decision on allowing U.S. companies to do business with China’s Huawei Technologies. The dollar fell 0.2% to 105.84 yen, on course for its second weekly decline. The pound traded near a two-year low versus the euro after a media report said new Prime Minister Boris Johnson is preparing to hold an election after the Oct. 31 deadline for Britain to leave the European Union.

 

In Commodities Markets oil prices rose on Friday, supported by expectations of more production cuts by OPEC amid fears the U.S.-China trade row could lead to a global slowdown, curbing demand for crude. International benchmark Brent crude futures, were at $57.61 a barrel, up 23 cents, or 0.4%, from their previous settlement. U.S. WTI futures were at $52.79 per barrel, up 25 cents, or 0.5%, from their last close. Both contracts jumped more than 2% on Thursday to recover from January lows,

 

In US Equity Markets the S&P 500 registered its largest one-day percentage gain in about two months on Thursday, with technology shares providing the biggest boost as equities continued to rebound along with bond yields. All major sectors advanced at least 1%, and the S&P 500 technology index, which was at the heart of the recent sell-off, climbed 2.4%. The S&P 500 gained 1.88%, to 2,938.09 and the Nasdaq Composite added 2.24%, to 8,039.16. Lyft Inc advanced 3.0% after the ride-hailing service raised its annual outlook and hinted at the end of its price war with Uber Technologies Inc.

 

In Bond Markets U.S. Treasury yields rose on Thursday, with 30-year yields climbing from a near-record low, as traders scaled back safe-haven holdings of U.S. government debt as Wall Street continued to rebound from a recent rout. Benchmark 10-year Treasury yields were 2.6 basis points higher at 1.717% after hitting 1.595% on Wednesday, which was their lowest level since October 2016.

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