In Asian Equity Markets the Nikkei 225 lost some of its earlier gains but was still up by 0.76 percent in morning trade as most major sectors rose, with shipping surging 2.12 percent. South Korea’s Kospi also pared some of its gains but still remained higher by 1.03 percent. Down Under, the ASX 200 was up by 0.35 percent in the morning with most of its major banks seeing gains, with AMP being among the exceptions as it slid by 0.8 percent. The Shanghai composite slid by 0.24 percent while the Shenzhen composite was 0.16 percent lower.

 

In Currency Markets the US dollar fell on Friday after weaker-than-expected U.S. inflation data further burdened a currency already weighed down by signs of reduced trade tensions between the United States and China. The euro was steady at $1.1691 after gaining more than 0.5 percent overnight when it brushed a two-week high of $1.1701. The Turkish lira was a shade weaker at 6.137 per dollar after ending the previous day on a gain of more than 4 percent. Following the lira’s rally, the South African rand gained 1.3 percent against the dollar on Thursday and the Mexican peso rose 1 percent.

 

In Commodities Markets oil clawed back some of its losses on Friday from the previous session when prices fell the most in a month, although worries that emerging market crises and trade disputes could dent demand continued to drag. Brent crude was up 23 cents, or 0.3 percent, at $78.41 a barrel, after falling 2 percent on Thursday. The global benchmark the day before rose to its highest since May 22 at $80.13 a barrel. U.S. light crude was up 27 cents, or 0.4 percent, at 68.86, after falling 2.5 percent on Thursday.

 

In US Equity Markets Apple led a rebound in technology shares and boosted all three major U.S. stock indexes on Thursday, while trade worries eased after China said it was open to fresh talks with the United States. The S&P 500 gained 0.52 percent, to 2,904.06 and the Nasdaq Composite added 0.77 percent, to 8,015.29. The S&P consumer staples index dropped 0.5 percent as shares of Kroger weighed on the sector. Kroger slid 10.2 percent after the supermarket chain’s same-store sales missed estimates as customers were put off by changes in how it stocked merchandise.

 

In Bond Markets U.S. Treasury yields retraced losses on Thursday afternoon as the market digested an earlier U.S. government report showing that consumer prices rose less than expected in August, and after solid demand for 30-year bonds at auction. Yields initially fell to session lows across maturities as the data challenged the assumption the Federal Reserve will raise interest rates another two times in 2018. But yields reversed course and steadied in the afternoon as doubts moderated.

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