Yen Gains With Gold as Stocks Decline Across Asia: Markets Wrap

Live Quote: On

RSS

My Page | Contact Us

RSS

RSS

Company A-Z | Stock Screener | My Portfolios | Streaming Quotes | Technical Analysis

Investing Tools

Useful Links

Tuesday, July 9, 2024 6:20:18 AM - Markets open

VN-INDEX

1,283.56

+0.52/+0.04%

HNX-INDEX

243.15

+0.85/+0.35%

UPCOM-INDEX

98.58

+0.31/+0.32%

Yen Gains With Gold as Stocks Decline Across Asia: Markets Wrap

Bloomberg - 1/23/2017 8:25:25 AM

(0 ratings. You must sign in to rate.)

Print |

Add To Favorites |

Email |

RSS

Haven assets were favored in initial trading Monday after Donald Trump in his first days in office offered little news on his plans to boost growth. Gold and the yen climbed with U.S. and Australian government bonds, while Asian shares retreated.

The yen strengthened and gold added to a four-week advance. Japan’s Topix index lost 1.3 percent and Australian shares dropped. The dollar fell as Asian traders reacted for the first time to Donald Trump’s inauguration and comments by Bank of Japan Governor Haruhiko Kuroda that the greenback could strengthen.

Trump began work as U.S. president after saying he’d place American interests at the forefront of his agenda. His pro-growth campaign-trail pronouncements helped drive a rally in equities since November, while the dollar surged and bonds slumped. Some of those trades are unwinding this month as investors assess whether those moves had pushed prices too far, too fast. Money managers will be dissecting earnings from some of the world’s largest companies this week with Alphabet Inc., Samsung Electronics Co. and Alibaba Group Holding Ltd. all reporting results.

“Markets are now waiting for more evidence that Donald Trump will deliver on fiscal stimulus and deregulation,” said Shane Oliver, Sydney-based global investment strategist at AMP Capital Investors Ltd., which manages about $120 billion. “Shares remain vulnerable to a further correction or consolidation in the next month or so.”

Here are the main moves in markets:

- The yen rose 0.7 percent to 113.84 per dollar as of 9:11 a.m. in Tokyo. The Bloomberg Dollar Spot Index slid 0.3 percent. It has fallen for four straight weeks, its longest retreat since February.

- Gold rose 0.4 percent to $1,214.96 an ounce.

- 10-year Treasury yields declined 3 basis points to 2.44 percent.

- The yield on 10-year Australian government bonds lost 2 basis points to 2.76 percent.

- Australia’s S&P/ASX 200 Index fell 0.4 percent. Futures on the Hang Seng and the FTSE China A50 indexes both added 0.2 percent. New Zealand’s S&P/NZX 50 Index fell 0.1 percent.

- Contracts on the S&P 500 Index declined 0.3 percent Monday after the gauge advanced 0.3 percent on Friday.

Newer News
26/06	NA ratifies the UK’s CPTPP accession protocol
26/06	Australia showcases technology capabilities at HCM City event
25/05	Gov't defines electronic money, Bitcoin not included
09/12	Measures needed to help SMEs tap ASEAN market: seminar
24/08	Upstream oil businesses profit from higher rents and limited supplies
06/03	Taxing second homes must be studied carefully: experts
21/09	Central banks set to hit peak rates at faster pace
23/03	Policymakers fear high inflation and unemployment
17/03	Current global inflation a worrisome situation
26/01	ASEAN+3 economic prospects positive in 2022

Older News
23/01	Oil edges up after producer meeting, but high U.S. output weighs
23/01	Dollar slips, stocks on defensive after Trump's protectionist address
21/01	Wall Street ends higher as Trump becomes president
20/01	European shares pull back before Trump inauguration
20/01	Fed's Yellen says unwise to allow U.S. economy to run 'hot'
20/01	Oil rises for second day as supply tightens, but U.S. stocks weigh
20/01	Asian stocks slip, dollar flat as caution reigns before Trump inauguration
20/01	Wall Street falls as investors ready for Trump's inauguration
19/01	European stocks mostly higher ahead of ECB decision; DAX up 0.13%
19/01	Risk-On Stance Greets Asia After Yellen Remarks: Markets Wrap

Newsletter Signup