Asian stocks traded mixed on Monday, following the worst week for the global equities market since mid-December. The dollar rose after Friday’s decline.
Chinese shares outperformed, as well as some stocks in Japan, Hong Kong and European futures that also peaked higher. Equities in Australia slipped and this had an impact in South Korea. Ten-year Treasury yields were little changed nearing their lowest value in the last two months as Federal Reserve Chairman Jerome Powell said he is in no hurry to change interest rates. S&P 500 Index futures steadied after U.S. stocks declined on Friday after the mixed U.S. jobs data. The pound fell as another key Brexit vote on Prime Minister Theresa May’s revised deal comes to the parliament.
Signs of struggling global growth have stalled a strong start to the year for risk assets. A slew of data from China this week could give new clues on the impact of its monetary stimulus. The Bank of Japan will also meet to set policy. On the trade front, China and the U.S. are in general agreement on many crucial issues and have held meaningful discussions on foreign exchange.
Boeing Co. shares will be closely watched after the Sunday crash which was the second deadly accident for the past five months. Boeing is the biggest component of the Dow Jones Industrial Average index the futures of which were down 0.4 percent.
Oil prices rose ahead of the release this week of the IEA’s Oil 2019 report and OPEC’s monthly market report.
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