ASIAN STOCKS MIXED; U.S. FUTURES STEADY
A gauge of Asian stocks was steady Wednesday, June 2, 2021, after US equities inched lower as the tussle between economic optimism and inflation concern continues to play out in markets, Andreea Papuc reported for Bloomberg News.
Japanese stocks outperformed and Australian equities were bolstered by robust economic figures. Hong Kong and China slipped. US equity futures were flat after the S&P 500 closed slightly lower. US manufacturing data topped estimates overnight but also signaled supply shortages and labor constraints.
Oil rose to a more than two-year peak, with OPEC+ providing an upbeat demand assessment and the prospect of a speedy return of Iranian barrels waning. Benchmark 10-year US Treasury yields edged up.
S&P 500 futures were little changed as of 12:58 p.m. in Tokyo. The index fell less than 0.1%. Nasdaq 100 contracts were flat.
The gauge fell 0.2%. Japan’s Topix index added 1%. Australia’s S&P/ASX 200 rose 0.9%. Hong Kong’s Hang Seng index shed 0.5%.
China’s Shanghai Composite index fell 0.7%. Euro Stoxx 50 futures were 0.2% higher. The Japanese yen was at 109.63 per dollar, dropping 0.1%. The offshore yuan traded at 6.3808 per dollar. The Bloomberg Dollar Spot Index was flat.
The euro was little changed at $1.2223. The yield on 10-year Treasuries advanced about one basis point to 1.61%.
Australia’s 10-year yield climbed one basis point to 1.71%. West Texas Intermediate crude rose 0.2% to $67.85 a barrel.
Gold was at $1,897.90 an ounce, Andres Guerra Luz, Jennifer Bissell-Linsk, Vildana Hajric and Emily Barrett reported for Bloomberg News.