Morning Report

Monday, 16 July 2018

  • Asian shares traded mixed in early Monday trade, with Japan markets closed for a holiday.
  • Gains in stocks last week came amid a perceived easing in trade rhetoric between the U.S. and China.

Asian stocks were narrowly mixed early on Monday after a perceived easing in rhetoric in the U.S.-China trade dispute late last week. Investors also awaited the release of a barrage of China economic data due later in the day.

South Korean stocks traded slightly lower, with the Kospi slipping 0.05 percent. In Australia, the S&P/ASX 200 inched higher by 0.08 percent. The sideways trade came on the back of gains on Wall Street in the previous session. The S&P 500 added 0.11 percent to end at 2,801.31, closing the session above the 2,800 level for the first time since Feb. 1.

In currencies, the dollar index, which tracks the U.S. dollar against a basket of currencies, traded at 94.762 . The People’s Bank of China (PBOC) set the Yuan reference rate at 6.6758 vs Friday’s day’s fix of 6.6727.

Oil prices fell on Monday as concerns about supply disruptions eased and Libyan ports resumed export activities, while traders eyed potential supply increases by Russia and other oil producers. Brent crude futures were down 26 cents, or 0.4 percent, at $75.07 a barrel U.S. West Texas Intermediate (WTI) crude was down 27 cents, or 0.4 percent, at $70.74 a barrel.

Source : Reuters

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