Ways2Capital Reviews : Asian Stocks Mixed, As US-China Trade Restrictions Loom Large

Asian stock markets were mixed, with the region’s shares close to the lowest in nine months, ahead of the planned implementation this week of trade restrictions between the US and China. The yuan slipped despite the strongest fixing to its daily reference rate since October.

Shares dropped in Japan, while rising in Hong Kong and China. South Korean stocks were little changed. Treasury yields ticked higher as trading resumed after the Independence Day holiday and the dollar steadied.

Earlier, the euro got a lift and market pricing for a September 2019 interest-rate hike jumped as some ECB policy makers were said to be uneasy that investors aren’t betting on an increase until December next year.

Trader focus is shifting to a busy end to the week, with trade action looming alongside minutes from the last Federal Reserve meeting and American employment numbers for June. On the trade front, China has pledged that it won’t implement tariffs before the US is scheduled to do so on Friday, accounting for the difference in time zones.

Elsewhere, oil held gains near $74 a barrel as investors weighed tightening US supplies against a pledge from Saudi Arabia to expand output.
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About Bhoomi Desai