In Asian Equity Markets indices gained Friday morning despite fresh overnight uncertainties about U.S.-China trade negotiations.  The Shanghai composite gained approximately 0.7 percent while the Shenzhen component rose 0.372 percent. Hong Kong’s Hang Seng index gained 1 percent. Shares of Chinese tech juggernaut Tencent rose 1.45 percent on the back of the company receiving approvals for two new games after months of waiting. The Nikkei 225 in Japan added about 0.9 percent.

 

In Currency Markets sterling rallied to its early November highs against the dollar on Friday after The Sun reported that Northern Ireland’s Democratic Unionist Party has privately decided to offer conditional backing for Prime Minister Theresa May’s Brexit deal next week. The Sun report lifted the pound 0.3 percent to $1.3107 in early Asian trade. The euro was off a touch at $1.1304, near its mid-December lows, as monetary policy is expected to remain accommodative in the euro area over this year.

 

In Commodities Markets oil prices rose by more than one percent on Friday as turmoil in Venezuela triggered concerns that its oil exports could soon be disrupted. Washington on Thursday signalled it could impose sanctions on Venezuela’s crude exports as Caracas descends further into political and economic turmoil. International Brent crude oil futures were at $61.89 a barrel, 1.3 percent, above their last close. U.S. West Texas Intermediate (WTI) crude futures were at $53.90 per barrel, up 1.5 percent.

 

In US Equity Markets the S&P 500 and the Dow edged lower on Thursday as lingering anxieties about slowing global growth and unresolved trade disputes kept buyers at bay, but chip-makers rallied to push the Nasdaq into the black. The S&P 500 lost 0.15 percent, to 2,634.79 and the Nasdaq Composite added 0.4 percent, to 7,053.56. Of the 11 major sectors of the S&P 500 six were in the red. Shares of Textron Inc jumped 6.3 percent after beating analyst profit estimates and forecast better-than-expected 2019 profit.

 

In Bond Markets U.S. Treasury yields fell on Thursday, with the 10-year’s yield hitting a one-week low, as anxiety about slowing global growth and trade tensions between China and the United States renewed safe-haven demand for U.S. government debt. The yield on benchmark 10-year Treasury notes was 4.1 basis points lower at 2.714 percent. It hit a one-week low of 2.700 percent earlier in the day.  Two-year Treasury yields were down 2.7 basis points at 2.564 percent.

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