Asia shares mixed, oil prices down amid Syria fallout

Asia shares mixed, oil prices down amid Syria fallout

In Asia, China reports its gross domestic product for the first quarter on Tuesday with market forecasts clustered around growth of 6.7 percent to 6.8 percent.

"There are two stories here, one backward-looking and one forward-looking", said Robert Subbaraman, chief economist for Asia, excluding Japan, at Nomura in Singapore.

EMini futures for the S&P 500 sprang 0.6 percent higher in early trade, while Japan's Nikkei added 0.3 percent.

Share markets started firmer in Asia on Monday amid relief USA -led strikes on Syria looked like being a one-off event that avoided a direct confrontation with Russian Federation, weighing on oil prices and safe-haven Treasuries. MSCI's gauge of stocks across the globe.MIWD00000PUS, which tracks shares in 47 countries, gained 0.39 percent, though emerging market stocks dipped 0.58 percent.

The big four banks also closed mixed, while energy stocks such as Woodside Petroleum, Oil Search and Origin Energy gained 1-2 percent after crude oil prices posted their largest weekly gain in nearly a year.

"The markets had been bracing for a possible escalation in Syria following President Trump's earlier warnings".

"That said, the underlying picture has not changed".

Asian markets fell on Monday after a US-led strike on Syrian targets fuelled fresh geopolitical concerns over the Middle East.

At the Japan-U.S. summit, Prime Minister Shinzo Abe and President Donald Trump are expected to discuss North Korea as well as trade issues, after some U.S. protectionist measures triggered a backlash from major trading partners.

Stocks stable, oil drops after US-led air strikes on Syria | Charlotte Observer
Global shares mixed amid trade friction pressures

The Dow gained 0.87 percent and the S&P 500 rose 0.8 percent on Monday, with the biggest boosts from technology and healthcare sectors as investors were optimistic about the earnings season and appeared less anxious about US -led missile attacks in Syria.

S&P 500 companies are expected to report an 18.6 percent jump in first-quarter profit, on average, the biggest rise in seven years, according to Thomson Reuters data.

The Bloomberg Dollar Spot Index declined 0.3 percent to the lowest in three weeks.

The euro was steady at $1.2330, while the dollar index eased a touch to 89.772. The dollar was effectively flat at ¥107.060.

Property firms in Hong Kong took a hit on fears of an end to the era of low-interest rates as the city's de facto central bank was forced to support the local dollar, which is at 7.85 to the greenback, the lowest end of its band with the United States unit.

"Stocks were concerned about a prolonged and expanded US campaign towards Assad and that doesn't look probable".

The 10-year USA treasury note yield was at 2.834% after rising to 2.865 on Monday, its highest since March 22.

Oil prices slipped with Brent crude futures off 66 cents at $71.92 a barrel, while USA crude fell 56 cents to $66.83 a barrel.

LME aluminum gained 5 percent to $2,399.00 per metric ton, the highest in more than six years.

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