Asian Markets Rise As Dollar And Treasuries Steady

0
628

Most Asian markets climbed on Monday amidst hopes of developments in the trade war. As traders look ahead positively for the meeting between the central bankers, Asian equities crept up a bit. On Friday, there were reports of a possible meeting between the U.S. and China this September, which has instilled hopes among many traders and markets all over the world.

While Japan markets have seen a decline, stocks in Hong Kong rose. Chinese equities after seeing a decline for five consecutive days now seem to have steadied a bit in most parts Asia. On the other hand, European stock-index figures climbed. As the dollar steadies, 10-year Treasury yield has improved a little.

The offshore Yuan remained stable after the signs became more prevalent that China will be bolstering their currency before having trade talks with the U.S., while the onshore Yuan strengthened.   

Bond Traders are betting that the present market instability will not affect any of the decisions made by the Federal Reserve and that it will continue to remain tightening its course with China. They are also betting on the fact that the Fed will raise the interest rates in its next meeting. However, this week’s Jackson Hole symposium may provide some insights on whether such confidence is warranted given that the gap between 2- and 10-year yields has slimmed down to the least on last Friday, since 2007.

Elsewhere, Turkish markets are shut this week for holidays, which means that markets may experience low trading volumes and some wild currency swings. Japan’s Topix index fell 0.3%. The Shanghai Composite Index was able to recover 0.6% of losses from last week, while Hong Kong’s Hang Seng Index rose by 0.8%.

Image Credit: USCNPM.org

Daily ARG - Your source for all Stock Trading News