In Asian Equity Markets indices declined in Monday morning trade, as investors monitor the ongoing virus outbreak’s impact on Chinese manufacturers. Mainland Chinese stocks were mixed in early trade. The Shanghai composite down 0.3%. Hong Kong’s Hang Seng index fell 0.8%. In Japan, the Nikkei 225 fell 0.38% in morning trade while the Topix index declined 0.47%. South Korea’s Kospi also fell 0.8%. Meanwhile, the S&P/ASX 200 in Australia shed 0.12%.
In Currency Markets the U.S. dollar held gains on Monday after job market data provided the latest sign of U.S. economic strength, while worries about the coronavirus epidemic kept other trade-exposed currencies subdued. Data on Friday showed U.S. job growth accelerated last month, blowing past estimates, with particular strength in construction – indicating the economy is in decent shape. The Australian dollar touched a fresh decade-low of $0.6657 in early trade and last stood at $0.6680. The New Zealand dollar touched a two-month low of $0.6397.
In Commodities Markets oil prices on Monday extended their decline from an early January peak above $70 as the specter of excess supplies loomed over the market after the spreading coronavirus outbreak hit demand in China, the world’s largest oil importer. Brent crude hit a low of $53.63 a barrel and was at $54.09, down 38 cents. U.S. West Texas Intermediate fell 38 cents to $49.94 a barrel after striking a low of $49.56. Spot gold was up 0.1% to $1,572.01 per ounce.
In US Equity Markets indices pulled back from record levels on Friday after a four-day rally as investors digested a report showing U.S. job growth accelerated last month and braced for the next developments involving the coronavirus spread out of China. The S&P 500 lost 0.66%, to 3,323.69 and the Nasdaq Composite fell 0.7%, to 9,505.60. Most S&P 500 sectors fell, with materials and technology the weakest performers. Take-Two Interactive Software Inc shares fell 11.1% after the videogame publisher’s adjusted revenue missed estimates.
In Bond Markets U.S. Treasury yields declined on Friday as concerns about global growth and a growing coronavirus epidemic outweighed a strong U.S. jobs report. The benchmark 10-year yield was down 5.9 basis points at 1.5852% in afternoon trading. The two-year U.S. Treasury yield, which typically moves in step with interest rate expectations, was down 4.4 basis points at 1.4031% in afternoon trading.