In Asian Equity Markets indices traded higher Tuesday morning. Mainland Chinese stocks edged up in early trade, with the Shanghai composite fractionally higher. In Japan, the Nikkei 225 rose 0.36% in morning trade, while the Topix index added 0.52%. Australia’s S&P/ASX 200 gained 0.64% as most of the sectors traded higher. Over in South Korea, the Kospi advanced 0.17%. In Hong Kong, however, the Hang Seng index declined 0.17% as shares of life insurer AIA fell 1.15%.

 

In Currency Markets the U.S. dollar held near a three-week high on Tuesday, as expectations global economies would unleash fresh stimulus and an improvement in appetite for riskier assets lifted yields on U.S. government bonds. The greenback traded little changed at 106.620 yen following three straight sessions of gains, having moved away from a seven-month low near 105.000 reached last week. The euro was flat at $1.1081, caught near a two-week trough of $1.1066 set on Friday.

 

In Commodities Markets crude oil prices held mostly steady on Tuesday on optimism that U.S.-China trade tensions would ease and on hopes that major economies would enact stimulus measures to counter a possible global economic slowdown that could affect oil demand. U.S. crude had slipped by 6 cents to $56.15 a barrel, after gaining 2.44% in the previous session. Meanwhile, a Reuters poll of seven analysts revealed expectations that crude oil inventories in the United States fell by 1.9 million barrels in the week to Aug. 16.

 

In US Equity Markets stocks climbed on Monday as reports of stimulus efforts in China and Germany calmed fears of a severe downturn in the global economy that were stoked last week as bond yields fell. The S&P 500 gained 1.21%, to 2,923.65 and the Nasdaq Composite added 1.35%, to 8,002.81. Shares of Estee Lauder Cos Inc jumped 12.5% to a record high as the beauty company forecast full-year revenue and profit above estimates, bolstered by booming demand for its premium skincare products in the Asia-Pacific region.

 

In Bond Markets U.S. Treasury yields rose on Monday after the Treasury Department late on Friday said it was gauging market interest in ultra-long-dated debt, and as risk sentiment improved. The Treasury said it wants to “refresh its understanding of market appetite” for 50-year or 100-year year bonds. It came after 30-year bond yields fell to record lows last week on concerns about slowing growth. Benchmark 10-year notes were last down 16/32 in price to yield 1.59%. The yields have risen from a three-year low of 1.475% on Thursday.

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