Photographer: Kiyoshi Ota / Bloomberg
Photographer: Kiyoshi Ota / Bloomberg
Most Asian stocks climbed on Thursday, with the pound advancing as a post-Brexit trading post agreement seemed to calm investors’ nerves on their way into the Christmas holiday period.
Shares were higher in Australia, Japan and South Korea, while US stock futures were flat. The S&P 500 previously closed only 0.1% with the Nasdaq Composite and Russell 2000 indices setting intraday records. Alibaba Group Holding Ltd. fell more than 6% in Hong Kong after China launched an investigation into alleged monopolistic practices by the technology giant.
Government bonds were stable after the difference between 5- and 30-year yields extended Wednesday to a four-year high. Some stock markets close early Thursday for the Christmas holidays, and then most will be closed on Friday.
Investors are ignoring President Donald Trump’s demands for changes in US pandemic relief and expect stimulus spending to come sooner or later. House Speaker Nancy Pelosi seized on Trump’s call for greater individual scrutiny and said Parliament would seek to pass this additional measure during a pro forma session on Thursday.
“Right now we have a lot of livestock that will increase by the end of the year,” Michael Purves, founder and CEO of Tallbacken Capital Advisors, said on Bloomberg TV. “As constructive as I am in the wider markets, I expect there will be hangovers of various kinds to deal with this overtime a while later this winter.”
Meanwhile, Pfizer Inc. and BioNTech SE agree to double the supply of their Covid-19 vaccine to the United States. In the UK, Prime Minister Boris Johnson imposed tougher restrictions on a shard of England as authorities tried to empty a rapidly spreading coronavirus strain.
Negotiators from the United Kingdom and the EU have reached the outline of a post-Brexit trade agreement and are now working to finalize the wording of the agreement.
Here are the main features of the markets:
Equities
- Futures on the S&P 500 added 0.1% per share. 10:41 in Tokyo. The meter rose 0.1% on Wednesday.
- Japan’s Topix index rose 0.6%.
- Hong Kong’s Hang Seng slid 0.2%.
- Shanghai Composite added 0.3%.
- South Korea’s Kospi rose 0.8%.
- Australia’s S & P / ASX 200 index rose 0.7%.
Currencies
- The Bloomberg Dollar Spot Index was flat after falling 0.4% on Wednesday.
- The yen was at 103.57 per dollar.
- The euro bought $ 1.2207, up 0.2%.
- The pound rose 0.3% to $ 1.3533.
- Offshore yuan traded at 6.5258 per dollar.
Bonds
- The yield on 10-year government bonds rose by one basis point to 0.95%.
- Australia’s 10 – year interest rate rose six basis points to 0.99%.
Raw materials
- West Texas Intermediate crude rose 0.2% to $ 48.18 per barrel. Barrel.
- Gold rose 0.2% to $ 1,877.24 an ounce.
– With the help of Kamaron Leach