Asian markets trade higher; Shanghai Composite up 1.5%

Equities in Japan and China outperformed, with modest gains seen in Hong Kong.

Mar 15, 2019 03:03 IST India Infoline News Service

Asian stock markets were trading higher on Friday despite a lacklustre session for US shares amid concerns over a delayed Sino-American trade deal. Treasuries steadied and the dollar held gains.

Equities in Japan and China outperformed, with modest gains seen in Hong Kong. Earlier, the S&P 500 spent most of the session fluctuating between gains and losses in thin trading, before edging lower at the close. News that a meeting to end the trade war with China won’t happen this month had weighed on sentiment.

The pound was little changed as Prime Minister Theresa May won the endorsement of British politicians to seek to delay Brexit day. The yen was steady as the Bank of Japan cut its economic outlook while maintaining its policy stance.

The Bank of Japan attributed its cut to the growth outlook largely due to overseas developments. Next up comes a press conference from Governor Haruhiko Kuroda, where traders will look for more details. In the US, equity markets could experience higher levels of volatility on Friday with “quadruple witching,” where the expiration of stock-index futures, stock-index options, individual stock options and individual stock futures all occur.

Source: Bloomberg

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