In Asian Equity Markets Hong Kong-listed shares of computer maker Lenovo jumped 5.7 percent after the company announced a return to profit in the third quarter, surpassing market expectations. Hong Kong’s Hang Seng index slipped 0.27 percent. Japan’s Nikkei 225 fell 0.41 percent in morning. Shares of Japanese conglomerate Softbank Group fell about 1.1 percent. The Kospi in South Korea also declined 0.63 percent, with shares of Samsung Electronics falling 1.07 percent, hours after the company unveiled its new series of Galaxy smartphones.
In Currency Markets the U.S. dollar inched up on Thursday after minutes from the Federal Reserve’s last meeting revived expectations for a possible U.S. rate hike this year while investors shifted their focus back to trade issues for fresh directional cues. The dollar was a shade weaker at 110.75 yen after rising 0.25 percent overnight. The euro was little changed at $1.1337 after being nudged off a two-week high of $1.1371 scaled earlier on Wednesday. The Aussie rallied early in the session to a two-week peak of $0.7207 on strong domestic January employment data.
In Commodities Markets oil prices hovered close to 2019 highs on Thursday, bolstered by OPEC-led supply cuts and U.S. sanctions on Venezuela and Iran, but were prevented from rising further by slowing growth in the global economy. U.S. West Texas Intermediate (WTI) crude oil futures were at $57.33 per barrel, 17 cents, or 0.3 percent, above their last settlement, but below their 2019 high of $57.55 reached the previous day. International Brent crude futures were at $67.14 per barrel, 6 cents above their last close and not far off their 2019 peak, hit the day before, of $67.38 per barrel.
In US Equity Markets stocks ended higher on Wednesday after minutes from the Federal Reserve’s last meeting reaffirmed for investors that the U.S. central bank would be “patient” with respect to further interest rate hikes. The S&P 500 gained 0.18 percent, to 2,784.7 and the Nasdaq Composite added 0.03 percent, to 7,489.07. The S&P materials index, up 1.7 percent, led percentage gains among the major 11 S&P sectors, boosted by gains in commodity prices. Shares of CF Industries Holdings Inc, Mosaic Co and FreeportMcMoran rose.
In Bond Markets U.S. Treasury yields on Wednesday ticked up modestly after the publication of minutes from the Federal Reserve’s January policy meeting showed committee members were undecided on whether to hike interest rates again this year. The Fed in January signaled a pause in rate hikes, saying they would be “patient” about policy tightening, after indications of an economic slowdown roiled financial markets in December. Benchmark 10-year yield up 0.7 basis point to 2.652 percent and the yield on the 30-year bond last up 1.3 basis points to 3.001 percent.