In Asian Equity Markets indices edged up on Thursday morning. The Nikkei 225 rose 0.64% in morning trade, while the Topix index added 0.81%. Shares of Apple supplier Japan Display rose more than 20% after Japanese media reported that the tech giant would inject $100 million into the company. Mainland Chinese shares also saw gains in early trade, with the Shanghai composite adding 0.46%. In South Korea, the Kospi recovered from its earlier decline to gain 0.56%, while Australia’s S&P/ASX 200 was largely flat.

 

In Currency Markets the U.S. dollar hovered near a one-week high against the yen on Thursday, propped up by hopes of Sino-U.S. trade talk progress though investors were nonetheless cautious ahead of a meeting between leaders of the two powers in Japan in days ahead. The greenback was little changed at 107.730 yen, having risen about 0.6% overnight to 107.850 yen, its highest since June 20. The U.S. currency was supported by comments from U.S. Treasury Secretary Steven Mnuchin that the trade deal between the United States and China is “about 90%” complete.

 

In Commodities Markets oil prices rose more than 2% on Wednesday and hit their highest in about a month, buoyed by U.S. government data that showed a larger-than-expected drawdown in crude stocks as exports hit a record high, and surprise drops in refined product stockpiles. Brent crude futures rose $1.44, or 2.2%, to settle at $66.49 a barrel. U.S. WTI crude futures rose $1.55, or 2.7%, to settle at $59.38 a barrel. Crude inventories fell 12.8 million barrels last week, the Energy Information Administration said, far surpassing analyst expectations for a decrease of 2.5 million barrels.

 

In US Equity Markets technology shares led the S&P 500 and the Nasdaq higher on Wednesday after remarks by Treasury Secretary Steven Mnuchin rekindled hopes for a de-escalation of U.S.-China trade tensions and brought buyers back from the sidelines. The S&P 500 gained 0.10%, to 2,920.27, and the Nasdaq Composite added 0.46%, to 7,920.92. General Mills Inc was among the biggest percentage losers on the S&P 500, dropping 4.2% after the packaged food company missed quarterly sales estimates, hit by lower snacks demand in North America.

 

In Bond Markets U.S. Treasury yields rose on Wednesday on hopes that the United States and China will make progress in trade talks later this week and as traders reduced bets that the Federal Reserve will cuts rates twice when it meets next month. The Treasury Department sold $41 billion in five-year notes on Wednesday to slightly soft demand, the second sale of $113 billion in coupon-bearing supply this week. It will also sell $32 billion in seven-year notes on Thursday.

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