Asian shares struggle as trade fears keep investors cautious
By Hideyuki Sano TOKYO (Reuters) - Asian stocks struggled to gain traction on Friday, following a mixed end to Wall Street trade and as the worsening Sino-U.S. trade dispute kept investors in the region cautious, despite signs of rapprochement between the United States and Europe
By Hideyuki Sano
TOKYO (Reuters) - Asian stocks struggled to gain traction on Friday, following a mixed end to Wall Street trade and as the worsening Sino-U.S. trade dispute kept investors in the region cautious, despite signs of rapprochement between the United States and Europe.
MSCI's broadest index of Asia-Pacific shares outside Japan <.MIAPJ0000PUS> was little changed in early trade.
Japan's Nikkei <.N225> eked out a 0.3 percent gain though it was capped by worries that the Bank of Japan could scale down its asset purchase at its upcoming policy review next week.
MSCI's gauge of stocks across the globe <.MIWD00000PUS> hit four-month highs on Thursday, with European car maker shares <.SXAP> gaining 2.6 percent after the European Union and the United States agreed to negotiate on trade, easing fears of a transatlantic trade war.
U.S. industrial shares <.SPLRCI> also made gains, rising 0.8 percent though the S&P 500 Index <.SPX> dipped 0.30 percent on Thursday, due to a 19 percent dive in Facebook
While that pushed down the Nasdaq Composite <.IXIC> 1.01 percent, other U.S. tech firms held firm, with Amazon.com shares gaining 3.2 percent after market following its stellar earnings.
The 10-year U.S. Treasuries yield
Yet Asian shares were more subdued as trade disputes between Washington and Beijing have shown few signs of abating.
"Now that Washington does not need to use its energy to fight with Europe, it could increase pressure on China," said Nobuhiko Kuramochi, chief strategist at Mizuho Securities.
The Chinese yuan stayed near its 13-month low touched earlier this week.
The offshore yuan traded at 6.8283 per dollar
The Thomson Reuters/HKEX Global CNH index <.RXYH>, which tracks the offshore yuan against a basket of currencies on a daily basis, fell to its lowest levels since May last year, having fallen 2.7 percent so far this month.
The euro traded at $1.1641
The dollar ticked up to 111.22 yen
In commodities, oil prices extended their recovery, after Saudi Arabia suspended oil shipments through a strait in the Red Sea following an attack on two oil tankers.
Brent crude futures
(Editing by Sam Holmes)
This story has not been edited by Firstpost staff and is generated by auto-feed.
Find latest and upcoming tech gadgets online on Tech2 Gadgets. Get technology news, gadgets reviews & ratings. Popular gadgets including laptop, tablet and mobile specifications, features, prices, comparison.
By Jessica Resnick-Ault NEW YORK (Reuters) - Oil prices strengthened on Wednesday, as OPEC and its allies were seen complying with a pact to cut oil supply in September, even as concerns loomed that recovery in fuel demand will be stalled by soaring global coronavirus cases. Early in the day crude was boosted by a bullish stock market. Even as equities whipsawed on pandemic worries, oil stayed higher, buoyed by expectations that OPEC could staunch a supply glut
By Tina Bellon and C Nivedita (Reuters) - Tesla Inc will further cut the price of its Model S "Long Range" sedan in the United States to $69,420, the electric carmaker's chief executive, Elon Musk, announced in a tweet https://bit.ly/2H0JCP0 on Wednesday. The anticipated drop marks the second time this week Tesla has cut the price for the high-end sedan, following a 4% cut of the Model S's price in the United States on Tuesday to $71,990.
By Jeff Mason DES MOINES, Iowa (Reuters) - Under siege over his handling of the novel coronavirus pandemic, President Donald Trump on Wednesday cited what he said was his son's mild bout of the virus as a reason why American schools should reopen as soon as possible. Trump made the comment about his son, Barron, as the president swept into Iowa on a mission to shore up support in battleground states that he won in 2016 but is in danger of losing to Democrat Joe Biden barely three weeks before the election. First lady Melania Trump announced in a statement earlier in the day that the virus that struck both her and her husband had also infected their 14-year-old son