SHANGHAI: Major Asian equity indicators nudged higher on Monday as investors awaited U.S. retail sales data and corporate earnings to gauge the health of the world's biggest economy, with markets remaining focused on a likely U.S. rate cut this month.
Overnight, however, U.S. President Donald Trump showed no signs of softening his stance on China, warning that Washington could pile on more pressure as bilateral trade talks sputtered along. Signs of trade tensions weighing on corporate profits and the fading impact of tax cuts would underscore the U.S. Federal Reserve's concerns over slowing business investment, he said.
The quiet Asian trading session followed an equally subdued day on Wall Street, with the Dow Jones Industrial Average rising 0.1per cent, the S&P 500 gaining 0.02per cent and the Nasdaq Composite adding 0.17per cent.Ahead of the release of U.S. retail sales figures, signs of an improving economic situation in the United States have led to a steepening of the U.S. yield curve, led by higher longer-dated yields.
In the currency market, the dollar was up 0.06per cent against the yen at 107.97, and the euro ticked up 0.02per cent, buying US$1.1259.
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Source: ChannelNewsAsia - 🏆 6. / 66 Read more »