Asia Stocks Mixed as Oil Seeks Floor; Pound Rises

Risk appetite had built Tuesday morning in the U.S. after White House economic adviser Larry Kudlow told CNBC that the U.S. and China are talking on “all levels” of government. That followed an overnight report that China’s Vice Premier Liu He will pave the way for a meeting between the leaders of the two biggest economies later this month. Meanwhile, the Trump administration was said to be holding off for now on imposing new tariffs on automobile imports.

Focus now turns to Federal Reserve Chair Jerome Powell who speaks Wednesday, with some observers expecting him to calm worries about the central bank pushing its interest rate-hike cycle too far. That comes after the latest read on China’s economy, where retail sales missed estimates, though industrial production held up.

Italian assets are back in focus after its government stuck to forecasts for a 2.4 percent budget deficit and 1.5 percent growth target for next year. The move pushes aside attempts by Finance Minister Giovanni Tria to placate the European Commission, which had demanded changes to ease concerns about excessive spending and overly optimistic growth estimates.

Elsewhere, the pound extended gains following a report that key ministers will back U.K. Prime Minister Theresa May’s draft Brexit agreement after months of negotiations.

Източник: Bloomberg Finance L.P.

Графика: Used with permission from Bloomberg Finance L.P.

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