Asian stocks put in a solid shift on the day
Tech stocks are the main outperformers today with Tencent leading gains in the Hang Seng index and that is helping to lift the mood across regional equities as well. But in general, most sectors are holding up well as investors are still weighing up the US-China trade rhetoric.
Overnight, Wilbur Ross commented that the two countries are still "miles and miles apart" from a trade deal but toned down his approach in a later interview. Mnuchin also came out to try and defuse some of the negativity but the mixed performance by US stocks to end the day is helping to feed some confidence to equity investors in the new day.
The relative risk-on tone in markets is helping to keep yen pairs bid on the day while also weighing a little on the dollar. USD/JPY holds higher at 109.78 currently, still bouncing around between 109.50 and 110.00.
