Japan’s Topix index fell 0.6%, South Korea’s Kospi index rose 1.2% and Hong Kong’s Hang Seng Index rose 0.2%. While, S&P 500 futures and Nasdaq 100 futures fell 0.2%.
U.S. equity futures fell and Asian stocks were mixed Thursday as traders weighed geopolitical concerns and the likely path for Federal Reserve interest-rate increases.
Shares slipped in Japan, jumped in South Korea and fluctuated in Hong Kong, where reports suggest authorities are preparing mass testing to fight Covid. U.S. contracts dipped after the S&P 500 managed a small gain Wednesday.
Treasuries climbed, the dollar was steady and gold held a recent rally. Traders were digesting the U.S. rejection of Russia’s claims of a troop pullback from Ukraine’s border. The Kremlin has repeatedly denied any plans to invade.
Oil slid amid signs an Iranian nuclear deal is getting closer, which could pave the way for a resumption of official exports from the Persian Gulf producer. Crude lately has also been whipsawed by supply worries stemming from the Russian troop buildup.
The latest Fed minutes showed officials concluded they would start raising rates soon and were on alert for persistent inflation that would justify faster tightening. There were few new details on balance-sheet runoff plans.
Here are some key events this week:
- G-20 finance ministers, central bank governors meet, Thursday through Feb. 18
- Cleveland Fed President Loretta Mester, St. Louis Fed President James Bullard speak, Thursday
- U.S. Monetary Policy Forum: speakers including Fed officials Charles Evans, Christopher Waller and Lael Brainard, Friday
Some of the main moves in markets:
Stocks
- S&P 500 futures fell 0.2% as of 10:55 a.m. in Tokyo. The S&P 500 rose 0.1%
- Nasdaq 100 futures lost 0.2%. The Nasdaq 100 fell 0.1%
- Japan’s Topix index fell 0.6%
- Australia’s S&P/ASX 200 Index rose 0.6%
- South Korea’s Kospi index rose 1.2%
- Hong Kong’s Hang Seng Index rose 0.2%
- China’s Shanghai Composite Index fell 0.1%
Currencies
- The Japanese yen was at 115.48 per dollar
- The offshore yuan was at 6.3315 per dollar
- The Bloomberg Dollar Spot Index was steady
- The euro was at $1.1381
Bonds
- The yield on 10-year Treasuries was at 2.03%
- Australia’s 10-year yield was at 2.24%
Commodities
- West Texas Intermediate crude declined 2.3% to $91.54 a barrel
- Gold was at $1,869.04 an ounce
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