Asian Market Wrap:
Asian Market Wrap: The correction in long yields, as well as positive earnings reports especially for the tech sector has underpinned confidence in stock markets and Asian equity markets mostly moved higher after a positive close on Wall Street where tech earnings bolstered sentiment. The BoJ left policy unchanged, and removed the wording on reaching the 2% inflation target around fiscal 2019. The Pan Korean summit ia adding to the positive mood, but Chinese markets remain under pressure and the Shanghai Composite headed south once again, putting pressure on officials to come up with more supporting measures. Reports that Huawei is probed by the FBI for possible Iran violations revived trade war fears and the CSI 300 is down -0.52%, against a gain of 0.54% in the Hang Seng. The Nikkei is up 0.57%, the Topix down from early highs, but still hanging on to a 0.13% gain ahead of the long weekend. U.S. stock futures are mixed, with NASDAQ futures outperforming after the good earnings run. Yields meanwhile settled lower, with the 10-year Treasury yield holding below 3% and the 10-year JGB down -0.3 bp at 0.045%. The oil price meanwhile has fallen back below USD 68 per barrel.