Asian stock markets traded mixed after US shares showed little direction ahead of corporate earnings and following data confirming the economy remains on solid footing. Treasuries steadied.
Japan’s Topix index retreated with equities in Hong Kong and South Korea, while a report of impending cost cuts at Australia’s largest bank lifted stocks in Sydney. Volumes were light in the US session and the S&P 500 Index ended flat ahead of the first quarter reporting period that begins in earnest Friday with results from JPMorgan Chase & Co. and Wells Fargo & Co. The 10-year Treasury yield remained below 2.50% and the dollar steadied. The euro pushed higher.
Elsewhere, oil pared losses in the wake of burgeoning US crude supplies and a cautious view on demand. The pound held losses as Prime Minister Theresa May accepted the European Union’s offer to push the Brexit deadline out six months.