Asian stocks seek new direction after weak US data
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Asian stocks posted modest gains in early trading Wednesday as investors search for a clear direction amid weaker US consumer confidence and a late rally in US equities. Indexes rose in Sydney and Tokyo and futures pointed to slight gains for Hong Kong. The S&P 500 climbed 0.2% Tuesday after fluctuating for most of the session to notch up its longest rising streak in almost seven weeks, despite a drop in consumer confidence. The Nasdaq Golden Dragon China Index tumbled for a sixth consecutive day, its longest losing streak in more than a year. The 10-year US Treasuries yield edged up to 4.33% in early Asian trading after falling in the previous session. The dollar was little changed after ending a four-day rally Tuesday. US copper surged to a record. Oil rose early on Wednesday after an industry report indicated a drawdown in US inventories. While markets have taken some comfort from President Donald Trump’s recent comments about the ...