Asia Stock Futures Rise on Trade Hopes; Bonds Fall: Markets Wrap

Stocks in Asia looked set to gain and sovereign bond yields climbed with the yuan amid optimism that the U.S. and China have agreed to roll back tariffs on each other’s goods in phases. Futures climbed in Japan, Hong Kong and Australia. The S&P 500 Index rose to a fresh record Thursday, though closed off the highs as the two sides continue to negotiate over where and when a “Phase One” deal would be signed. Treasury yields touched the highest since August. “Moving from a non-escalation to a de-escalation, which would be rolling back the tariffs, has got everybody excited,” Adam Taback, global head of alternative investments at Wells Fargo Investment Institute, told Bloomberg TV. ASIA MARKET WILL ENJOY THE STOCK RALLY TODAY

TECHNICAL CHARTS

KEY TAKEAWAYS

  • Price will form a bullish flag before a breakout
  • Trader can accumulate index as China-US have agreed phase 1 deal
  • Bullish Head & Shoulder confirmation

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Article by: Ashok – Strategic Coach & Mentor – Philippine Stocks

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