In Asian Equity Markets indices were mixed in Thursday. Hong Kong’s Hang Seng index fell 0.34% as shares of Chinese tech giant Tencent declined 1.92%. In Japan, the Nikkei 225 was slightly lower while the Topix index was largely flat. Shares of Softbank Group fell 2.27% after falling more than 3% earlier. The moves came after the Japanese conglomerate announced its first quarterly loss in 14 years on Wednesday. Meanwhile, automaker Toyota saw its stock fell 0.2% ahead of its quarterly earnings report on Thursday. South Korea’s Kospi slipped 0.13%, as shares of industry heavyweight Samsung Electronics shed 1.13%.
In Currency Markets the U.S. dollar inched lower against the yen on Thursday as lingering doubts about when the United States and China will sign a preliminary trade deal discouraged traders from taking big positions. Sterling traded near a one-week low before a Bank of England meeting later on Thursday. No change in policy is expected, but investors are focused on how the BoE will respond to uncertainties posed by Britain’s fraught exit from the European Union. The dollar fell 0.17% on Thursday to 108.80 yen. The pound traded a $1.2851, close to the lowest since Oct. 29. Against the euro, sterling was quoted at 86.13 pence, hemmed into a narrow range.
In Commodities Markets oil prices trod water on Thursday after losses in the previous session, as traders were cautious amid concerns over a potential delay in sealing a long-awaited interim U.S.-China trade deal and a huge increase of U.S. crude stockpiles. Brent crude futures were down 3 cents, at $61.71 a barrel after settling down $1.22 per barrel, or 2% on Wednesday. WTI crude futures were at $56.29 a barrel, down 2 cents, from their last close. They settled 88 cents lower, or 1.54%, in the previous session. U.S. crude oil stockpiles rose 7.9 million barrels last week as refiners cut output and exports fell, beating analysts’ expectations for an increase of 1.5 million barrels.
In US Equity Markets stocks ended little changed on Wednesday as a report the U.S.-China trade deal could be delayed until December was offset by gains in healthcare shares. The S&P 500 gained 0.07%, to 3,076.78 and the Nasdaq Composite fell 0.29%, to 8,410.63. The S&P 500 financials index extended recent gains, rising 0.4%, while the S&P 500 energy index fell 2.3% following declines in oil prices. Match Group Inc fell 2.5% as the Tinder owner forecast fourth-quarter revenue below estimates in the face of stiff competition from rival online dating services. Its parent firm, IAC/InterActiveCorp fell 4.3%.
In Bond Markets U.S. Treasury prices gained on Wednesday on a report that a U.S.-China meeting to sign a trade deal could be delayed until December, while some investors also repositioned after a three-day sell-off.Benchmark 10-year notes gained 16/32 in price to yield 1.809%, down from 1.865% late Tuesday. The Treasury Department sold $27 billion in 10-year notes on Wednesday to strong demand, the second sale of $84 billion in new coupon-bearing supply this week. The government sold $38 billion in three-year notes on Tuesday and will sell $19 billion of 30-year bonds on Thursday.