Asian stocks were mixed awaiting trade data

Bloomberg – Asian stocks were mixed early in the session, Where investors are waiting for the Chinese trade datawhich will present new signs of the country’s economic recovery.

Stocks rose in Japan, while they fell in South Korea and Australia. Hong Kong futures indicated a lower open.

S&P 500 and Nasdaq 100 futures fell in Asia. The S&P 500 closed slightly higher Monday, after gaining 1.9% on Friday. The technology-based Nasdaq 100 rose 0.3% as shares of Advanced Micro Devices Inc. rose. (AMD) and Nvidia Corp (NVDA) along with Google subsidiary Alphabet Inc (GOOGL).

China is expected to record export growth for the second month in April, thanks to a rebound in global demand. The world’s second largest economy surprised markets when its exports exceeded estimates in March.

In the early hours of the Asian session, the dollar rose for the second day in a row. The dollar reversed its losses recorded on Monday, After a poll of federal loan officials indicated that the credit market is tightening a bit, while demand for business loans has been weakening. Australian and New Zealand bond yields opened higher on Tuesday.

Treasuries were little changed in early Asian trade after falling on Monday as investors considered what it would take to finally reverse course in the Fed’s rate. Bond trading desks are preparing for corporate debt sales of up to $35 billion this week, while Apple Inc. (AAPL) Selling for 5.250 million USD.

Investors will be watching the debt ceiling debate between US President Joe Biden and congressional leaders. For its part, Wednesday’s consumer inflation data may provide more clues about the Fed’s path and set the tone for stocks.

In Asia, the focus will be on Australia, where the government will announce its first budget surplus since 2008. Extraordinary tax revenues from high level of employment and high export prices of raw materials combine to swell government coffers.

Elsewhere, oil fell as investors assessed a complex global demand outlook after a period of volatility. Gold hasn’t changed much and Bitcoin remains below $28,000.

Some of the major movements in the markets:

procedures

S&P 500 futures were little changed at 9:07 a.m. Tokyo time. The S&P 500 was little changed on Monday.

Nasdaq 100 futures fell 0.1%. The Nasdaq 100 rose 0.25%.

Japan’s Topix rose 0.4%.

Australia’s S&P/ASX 200 fell 0.1%.

Hong Kong Hang Seng futures fell 0.2%.

Currency exchange rate

Indicator bloomberg The spot dollar has changed little.

The euro fell 0.1 percent to $1.0990.

The Japanese yen was trading at 135.21 to the dollar.

The yuan was trading at 6.9240 per dollar.

The Australian dollar was trading at $0.6780.

Digital currencies

Bitcoin rose 0.4% to $27,659.32.

Ether rose 0.3% to $1,847.31.

bonds

The yield on the 10-year Treasury note was little changed, at 3.51%.

The yield on the Australian 10-year note rose eight basis points to 3.48%.

raw materials

West Texas Intermediate crude fell 0.3% to $72.94.

The price of spot gold has not changed.

— in collaboration with Emily Graffeo, Isabelle Lee, and Cristin Flanagan.

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