Asia Stocks Drop With Yuan as Trade Optimism Dims: Markets Wrap

Asia Stocks Drop With Yuan as Trade Optimism Dims: Markets Wrap

We can not guarantee that it is suitable for the visually or hearing impaired. Treasury yields edged lower. For the full year, tech indexes are still faring better.

Investors are also on the lookout for any updates on trade talks after the economic advisor Larry Kudlow stated last week that a quick resolution between the USA and China may not be a possibility.

Politics, geopolitics and central banks will be the focus of the week for investors with the U.S. midterm elections likely to dominate coverage early on, seen as a referendum on the policies of President Donald Trump.

"Early this week here, people are trying to resolve some of the uncertainty with this election", said Jerry Braakman, the chief investment officer at Santa Ana, California-based First American Trust. Treasuries edged higher and the dollar climbed, while the pound strengthened amid signs the United Kingdom and European Union are closer to breaking the Brexit deadlock.

The Bloomberg Dollar Spot Index declined 0.1 percent.The euro advanced 0.1 percent to $1.1417.The Japanese yen fell 0.1 percent to 113.28 per dollar.The British pound added 0.3 percent to $1.3079, the strongest in nearly three weeks.The MSCI Emerging Markets Currency Index was little changed.

Futures on the Dow, S&P 500 and Nasdaq drifted, while telecom and healthcare companies pushed the Stoxx Europe 600 Index higher in relatively thin trading.

Elsewhere, crude climbed as sanctions on Iran oil snapped back into place Monday.

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In currencies, the dollar index fell by less than 0.1%, the Euro remained nearly unchanged at $1.1394, the Japanese Yen also stayed more or less the same at ¥113.17 to the dollar, the British Pound went up by 0.4% to trade at $1.3022 but the MSCI Emerging Markets Currency Index fell by 0.1%. NY time; the Nasdaq Composite added 0.8 percent.The Stoxx Europe 600 Index dipped 0.2 percent.The MSCI Emerging Market Index rose 0.2 percent.

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The yield on 10-year Treasuries fell one basis point to 3.2 percent.

The Bloomberg Dollar Spot Index slipped 0.1 percent. The index measuring the greenback's strength against a basket of six major currencies was down 0.7 percent at 96.437.

Government bonds in Europe and the USA were mixed, but mostly little changed. The euro traded at US$1.1388 while the pound gained 0.1 per cent to US$1.2988.

The British pound jumped 0.6 percent to $1.3041.

Germany's 10-year yield was little changed at 0.42 percent.

The Australian dollar and the Kiwi dollar were up 1.4 percent and 1.7 percent respectively after strong domestic trade data helped offset some of the concerns about slowing growth in China - Australia's biggest trading partner.

Gold was steady at US$1,232.83 an ounce.

-With assistance from Cormac Mullen, Christopher Anstey, Eddie van der Walt and Samuel Potter.

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