In Asian Equity Markets indices rose in Friday morning trade as trade negotiations between the U.S. and China continued in Beijing. Mainland Chinese shares were mixed in early trade, with the Shanghai composite adding 0.28 percent. Meanwhile, Hong Kong’s Hang Seng index was largely flat. The Nikkei 225 in Japan rose 0.59 percent in morning trade as shares of index heavyweight Softbank Group jumped 1.28 percent. In South Korea, the Kospi was fractionally lower, with shares of industry heavyweight Samsung Electronics declining more than 1 percent.

 

In Currency Markets the U.S. dollar was poised on Friday for its strongest gain in three weeks as investors responded positively to a bounce in U.S. Treasury yields and as some of its rivals were hit by dovish signals from their own central banks. With many currencies on the defensive, the dollar has weathered a decline in benchmark Treasury yields to a 15-month low. Against a basket of key rival currencies, the U.S. currency was a shade higher at 97.222. Against the Japanese yen, the dollar edged lower to 110.62 yen.

 

In Commodities Markets oil prices rose on Friday, pushed up by ongoing supply cuts led by producer club OPEC and U.S. sanctions against Iran and Venezuela, putting the crude markets on pace to post their biggest first quarter gain since 2009.  U.S. West Texas Intermediate (WTI) futures were at $59.56 per barrel, up 26 cents, or 0.4 percent, from their last settlement. WTI futures are set to rise for a fourth straight week and are set for a first quarter gain of 31 percent. Brent crude oil futures were up 30 cents, or 0.4 percent, at $68.12 per barrel.

 

In US Equity Markets stocks climbed on Thursday as Treasury yields rose off 15-month lows, with investors optimistic about the latest round of U.S.-China trade talks. The Dow Jones Industrial Average rose 0.36 percent, to 25,717.46. The S&P 500 gained 0.36 percent, to 2,815.44 and the Nasdaq Composite added 0.34 percent, to 7,669.17. Consumer discretionary stocks rose 0.6 percent, helped by gains in shares of clothing firm PVH Corp. Calvin Klein’s owner forecast full-year adjusted profit and sales above Wall Street’s expectations.

 

In Bond Markets Japanese government bond (JGB) yields rose on Friday from more than two-year lows hit earlier this week, as the safe-haven appeal of government debt faded due to a bounce-back in Tokyo shares. Ten-year JGB futures fell 0.10 point to 153.20, with a trading volume of 12,253 lots halfway through the trading session. The benchmark 10-year JGB yield gained half a basis point to minus 0.095 percent. It had slipped to as low as minus 0.100 percent on Thursday, the lowest since August 2016.

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