Bloomberg Daybreak Asia: Rally Wavers as Buyer Fatigue Kicks In
Stocks in Asia fell early Thursday for the first time in five sessions as the rally on Wall Street sparked by US-China trade talks showed signs of exhaustion, on speculation stocks have run too fast amid risks stemming from a trade war to an economic slowdown and sticky inflation. Japanese and Australian stocks edged lower, while a gauge of US-listed Chinese companies climbed 1.2% on Wednesday. Tencent Holdings Ltd.'s revenue grew at its fastest pace in more than three years. We get a look at the market landscape with Mark Konyn, Chief Investment Officer at AIA Group. Stateside, the S&P 500 edged up just 0.1%. Most sectors fell, but big tech climbed. Boeing Co. gained on its largest-ever deal, with Qatar Airways placing an order for long-range jets during a visit to Doha by Donald Trump. The dollar erased losses as Bloomberg News reported the US is not working to include currency policy pledges in trade accords. Bond yields rose as Federal Reserve rate-cut bets receded. We get the views of John Creekmur, Chief Investment Officer at Creekmur Wealth Advisors.
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