Equities were mixed across Asia as technology shares pared early gains and financials declined. The dollar steadied close to its highest in three months, while Treasuries fluctuated.
Korean and Japanese shares rose while those in China and Hong Kong pushed lower. Tech stocks and Nasdaq futures fell from intraday highs even as positive earnings from technology heavyweights including Samsung Electronics Co. and Facebook Inc. buoyed sentiment toward a sector that has been fragile of late. The euro edged higher ahead of Thursday’s European Central Bank rate decision. German bund yields were little changed.
Investors are weighing the ability of global equities trading in some cases at still-elevated valuations, to cope with higher interest rates as the earnings season ramps up. Signs of optimism from Facebook and Samsung are offsetting pockets of concern around technology and industrial companies that have weighed on stocks this month.
Elsewhere, crude oil pushed further above $68 a barrel as French President Emmanuel Macron predicted U.S. President Donald Trump will withdraw from the Iran nuclear deal, casting a cloud over Middle East geopolitics. A U.S. withdrawal, which isn’t backed by any of the other five countries that are part of the agreement, would lead to a period of increased tensions and uncertainty, Macron said.
These are some important events coming up this week:
U.S. GDP data are due Friday.
Earnings season continues, with Amazon.com among those due to report.
The European Central Bank has a rate decision on Thursday. Investors will watch for any sign that officials are preparing a shift in stimulus plans for their June meeting.
The Bank of Japan announces its latest policy decision Friday and releases updated economic projections.
The leaders of North and South Korea meet Friday.
Terminal users can read more in our markets live blog.
And these are the main moves in markets:
The MSCI Asia Pacific Index fell 0.2 percent as of 3:17 p.m. Tokyo time.
Topix index rose 0.2 percent.
Hong Kong’s Hang Seng Index declined 1.4 percent.
Kospi index jumped 1.2 percent.
Australia’s S&P/ASX 200 Index fell 0.2 percent.
Futures on the S&P 500 Index fell 0.1 percent.
The Bloomberg Dollar Spot Index fell less than 0.05 percent.
The Japanese yen rose less than 0.05 percent to 109.38 per dollar.
The euro rose 0.1 percent to $1.2177.
The yield on 10-year Treasuries dipped one basis point to 3.02 percent.
Japan’s 10-year yield fell one basis point to 0.062 percent.
Australia’s 10-year yield rose four basis points to 2.877 percent.
West Texas Intermediate crude rose 0.3 percent to $68.26 a barrel.
Gold rose less than 0.05 percent to $1,323.77 an ounce.
LME copper decreased 0.8 percent to $6,952.00 per metric ton.