🧐 ProPicks AI October update is out now! See which stocks made the listPick Stocks with AI

GLOBAL MARKETS-Asia shares sit on weekly gains, await U.S. jobs test

Published 05/04/2019, 11:28 am
Updated 05/04/2019, 11:30 am
© Reuters.  GLOBAL MARKETS-Asia shares sit on weekly gains, await U.S. jobs test
EUR/USD
-
GBP/USD
-
USD/JPY
-
XAU/USD
-
US500
-
DJI
-
JP225
-
GC
-
LCO
-
ESZ24
-
CL
-
IXIC
-
MIAPJ0000PUS
-
DXY
-

* Asian stock markets : https://tmsnrt.rs/2zpUAr4

* Asia stocks ex-Japan camp near highest since August

* Nikkei holds 2.6 pct gain for the week

* Yen easing as Sino-U.S. trade talks progress

By Wayne Cole

SYDNEY, April 5 (Reuters) - Asian share markets consolidated weekly gains on Friday as Sino-U.S. talks dragged on with no concrete conclusions, while caution ahead of U.S. payrolls and a holiday in China and Hong Kong dampened volatility.

MSCI's broadest index of Asia-Pacific shares outside Japan .MIAPJ0000PUS was little changed and near its highest since the end of August. It was still up 1.9 percent for the week and 13 percent for the year so far.

Japan's Nikkei .N225 added 0.1 percent, to be 2.6 percent firmer for the week. E-Mini futures for the S&P 500 ESc1 edged up 0.04 percent.

"Share markets have run hard and fast from their December lows and are vulnerable to a short-term pullback," said Shane Oliver, head of investment strategy at AMP Capital.

"But valuations are okay, global growth is expected to improve into the second half of the year, monetary and fiscal policy has become more supportive of markets and the trade war threat is receding."

Xinhua reported Chinese President Xi Jinping had said progress was being made and called for an early conclusion of negotiations.

U.S. President Donald Trump said on Thursday a deal could be announced in about four weeks, but warned it would be difficult to let China trade with the United States if remaining issues were not resolved. are also waiting on the U.S. payrolls report which is forecast to bounce back by 180,000 in March, following February's distorted 20,000 rise. One focus will be hourly earnings which climbed to 3.4 percent in February, the fastest pace since April 2009.

Hopes for a solid number were boosted by data on jobless claims which fell to a 49-year low last week, pointing to sustained labour market strength. Dow .DJI ended Thursday up 0.64 percent, while the S&P 500 .SPX gained 0.21 percent and the Nasdaq .IXIC dropped 0.05 percent. The S&P 500 reached its highest level since Oct. 9 and is only 1.75 percent below its all-time closing high.

YEN EASING

In currencies, the progress on trade was enough to keep the safe-haven yen under pressure and lift the dollar to its highest in three weeks at 111.79 JPY= . The next chart stops were 111.89 and the March peak around 112.12.

Against a basket of currencies the dollar had bounced back to 97.312 .DXY , from Wednesday's low of 96.962.

Reuters reported Saudi Arabia is threatening to sell its oil in currencies other than the dollar if Washington passes a bill exposing OPEC members to U.S. antitrust lawsuits, three sources familiar with Saudi energy policy said. euro was flat at $1.1227 EUR= having dipped overnight in the wake of poor German data. Industrial orders there fell by the most in more than two years in February as foreign demand slumped, another sign that Europe's largest economy had a weak start to the year. was stalled at $1.3077 GBP= as markets awaited some clarity on where Brexit was heading.

Pro-Brexit lawmakers in Britain's upper house of parliament tried on Thursday to thwart the approval of a new law that would force Prime Minister Theresa May to seek a delay to prevent a disorderly EU exit on April 12 without a deal. source close to negotiations on the timetable for the bill said they expected it to be finalised on Monday.

In commodity markets, spot gold steadied at $1,291.61 per ounce XAU= after touching a near 10-week low overnight.

Brent oil had briefly touched $70 a barrel for the first time since November on Thursday as expectations of tight global supply outweighed pressure from rising U.S. production. [O/R}

Brent crude LCOc1 futures were off 15 cents at $69.25, while U.S. crude CLc1 rose 3 cents to $62.13 a barrel.

<^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^ Asia stock markets

https://tmsnrt.rs/2zpUAr4 Asia-Pacific valuations

https://tmsnrt.rs/2Dr2BQA

^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^> (Editing by Sam Holmes)

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.