In Asian Equity Markets indices were mixed on Tuesday morning amid continued trade tensions between the U.S. and China. Mainland Chinese shares rose in early trade, with the Shanghai composite gaining more than 0.2%. The Hang Seng index in Hong Kong, on the other hand, slipped 0.23%. The Nikkei 225 in Japan declined 0.45% in morning trade, as shares of index heavyweight and robot maker Fanuc fell. Over in South Korea, the Kospi rose 0.38% as shares of Samsung Electronics rose more than 3% following news of Google suspending business activity with Huawei.

In Currency Markets the U.S. dollar held near a 2-1/2-week high on Tuesday, supported by higher U.S.-yields and as intensifying trade frictions between the United States and China boosted appetite for the safe-haven greenback. The dollar index against a basket of six major currencies stood at 97.947 after brushing 98.036 overnight, its highest since May 3. The euro was effectively flat at $1.1166 after slipping to $1.1150 the previous day, its lowest since May 3. The single currency is expected to remain on a nervous footing through the May 23-26 European parliamentary election.

In Commodities Markets oil prices edged up on Tuesday on escalating tensions between the United States and Iran and on signs that producer club OPEC will continue withholding supply this year. However, gains were checked by concerns that a prolonged Sino-U.S. trade war could lead to a global economic slowdown. Brent crude futures, the international benchmark for oil prices, were at $72.03 per barrel, up 6 cents, or 0.1 percent, from their last close. U.S. WTI crude futures were up by 12 cents, or 0.2 percent, at $63.22 per barrel.

In US Equity Markets stocks slid on Monday as the White House’s restrictions on Chinese telecoms equipment maker Huawei Technologies Co Ltd weighed on the technology sector and raised concerns that the move would further inflame trade tensions between the United States and China. The S&P 500 lost 0.67%, to 2,840.23, and the Nasdaq Composite fell 1.46%, to 7,702.38. The Philadelphia Semiconductor Index, which includes Huawei suppliers Qualcomm, Broadcom and Micron Technology Inc, fell 4% to hit its lowest level in more than two months.

In Bond Markets U.S. Treasury yields rose on Monday, but traded within narrow ranges, reversing course in the afternoon session, as risk appetite improved somewhat despite continuing trade tension between the United States and China. U.S. 10-year note yields rose to 2.413% , down from 2.393% late on Friday. Yields on U.S. 30-year bonds were also higher at 2.831% , down from 2.824% on Friday. On the short end of the curve, however, U.S. 2-year yields were up at 2.220%, compared with Friday’s 2.202%.