In Asian Equity Markets the Nikkei 225 in Japan rose 1.03% while the Topix index added 0.82%. South Korea’s Kospi index was up 1.03% as Samsung shares gained 1.05%. The tech giant announced third-quarter guidance, saying its operating profit for the three months that ended in September is expected to more than halve from a year ago, but it is set to beat analysts’ expectations. Chinese markets returned to trade following a week-long public holiday: The Shanghai composite rose 0.54%, the Shenzhen composite added 0.85%,
In Currency Markets the US dollar found support on Tuesday while investors waited for an outcome from Sino-U.S. trade talks in Washington, with caution as neither side showed any signs of giving ground at the negotiations. The greenback had gained overnight as risk aversion, and low expectations for a breakthrough trade deal, drove trade-exposed currencies such as the Australian and New Zealand dollars, the Chinese yuan and Korean won lower. It was flat against the Australian dollar at $0.6728 and steady against the New Zealand dollar at $0.6286.
In Commodities Markets oil prices settled lower on Monday, paring earlier gains as hopes of a comprehensive U.S.-China trade deal faded and a new poll showed analysts expected U.S. oil crude inventories to have risen last week. Brent crude settled down 2 cents, or 0.03%, at $58.35 a barrel, after hitting a high of $59.68. U.S. West Texas Intermediate (WTI) crude settled at $52.75, down 6 cents or 0.11%, after hitting a high of $54.06. Hopes of progress in U.S.-China trade talks had helped lift prices earlier in the session.
In US Equity Markets indexes ended a volatile session lower on Monday while oil prices gave up early gains and the dollar rose as investors looked for safety ahead of U.S.-China trade talks. The S&P 500 lost 0.45%, to 2,938.79 and the Nasdaq Composite fell 0.33%, to 7,956.29. General Motors Co eased 0.5% after the UAW rejected the carmaker’s latest offer of a four-year labor contract. Late in the session, Wall Street’s major indexes briefly turned higher after positive tweets about the trade talks. But they then fell again as hopes for progress faded.
In Bond Markets U.S. Treasury yields rose on Monday as the $78 billion in note and bond supply slated for auction helped push prices lower after last week’s dramatic rise. The two-year yield, which last week fell 22.6 basis points, rose 6.4 basis points to 1.462%. The benchmark 10-year yield was up 3.9 basis points, having fallen 15.9 basis points last week after data from the Institute for Supply Management showed a slowdown in the U.S. manufacturing and services sectors.