In Asian Equity Markets indices were mixed on Thursday, as some regional stock indexes shrugged off early losses despite concerns over heightened trade tensions. The Nikkei 225 edged up by 0.16 percent, reversing losses seen earlier in the day. Despite the broader gains, shippers declined with the Topix sea transport index lower by 1.76 percent. Meanwhile, automakers and technology names traded mixed. Across the Korean Strait, the Kospi added 0.13 percent. Hong Kong’s Hang Seng Index advanced 0.12 percent. The financials sub-index eked out gains on the whole, even though heavyweights HSBC and AIA were down 0.33 percent and 0.37 percent.

In Currency Markets the dollar touched a one-week low against the yen on Thursday, as lingering worries about global trade tensions weighed on investors’ risk appetite. The dollar last traded at 106.01 yen, down 0.3 percent on the day. Earlier on Thursday, the dollar had touched a trough of 105.825 yen, its lowest level since March 7. A decline to levels below its early March low of 105.24 yen would take the greenback to its weakest since November 2016. The euro edged up 0.1 percent to $1.2378. The New Zealand dollar slipped to $0.7305 at one point after the fourth quarter GDP data, but later pared its losses to trade at $0.7332, little changed from late U.S. trade on Wednesday.

In Commodities Markets oil prices held steady on Thursday, supported by healthy global demand but capped by the relentless rise in U.S. production that is undermining efforts led by producer cartel OPEC to cut supplies and prop up markets. U.S. West Texas Intermediate (WTI) crude futures rose 7 cents, or 0.1 percent, to $61.03 a barrel. Brent crude futures were at $64.90 per barrel, up 1 cent from their last close. Prices were receiving support from healthy demand. The Organization of the Petroleum Exporting Countries (OPEC) said on Wednesday that oil consumption was expected to grow by 1.62 million barrels per day (bpd) in 2018.

In US Equity Markets stocks fell on Wednesday after President Donald Trump sought to impose fresh tariffs on China, intensifying fears of a trade war that could raise costs and hurt overseas sales for U.S. companies. Boeing Co, seen to be particularly vulnerable to retaliation from U.S. trade partners, fell 2.5 percent, leading the losers on the Dow. The S&P 500 lost 0.43 percent, to 2,753.53 and the Nasdaq Composite fell 0.1 percent, to 7,503.17. Ford rose 2.8 percent after Morgan Stanley upgraded the stock to “overweight” from “underweight” and raised its earnings estimate on the automaker. Signet Jewelers fell 19.7 percent after the company gave a disappointing full-year earnings forecast.

In Bond Markets the benchmark 10-year Treasury yield was steady at 2.818 percent having declined for the third straight day overnight amid rising diplomatic tension between Britain and Russia, soft U.S. retail sales data and concerns over Washington’s political and trade issues. The spectre of a trade war also boosted demand for European debt, with the German 10-year bund yield declining to a 1-1/2-month low of 0.583 percent. Yields on British gilts and French government bonds also fell.