Stocks Mixed in Asia after US-China Trade-Deal Signing

• Shares in Japan were largely flat, while Australian equities were modestly higher along with those in Hong Kon

• With the deal between the world’s two largest economies now behind, investors may be casting around for fresh catalysts

Stocks in Asia were mixed Thursday in wake of the signing of the U.S.-China trade deal, expectations for which had driven global equities to record highs and propelled a recovery in the yuan.

Shares in Japan were largely flat, while Australian equities were modestly higher along with those in Hong Kong. The Shanghai gauge slipped. U.S. futures were little changed after the S&P 500 Index Wednesday notched a fresh all-time high. Treasuries held gains, with 10-year yields below 1.8%, and West Texas Intermediate hovered around $58 a barrel.

With the deal between the world’s two largest economies now behind, investors may be casting around for fresh catalysts. Meantime, traders may sift through details in the agreement. Soybeans slumped overnight after China signaled purchases would be based on demand, rather than a pre-set amount.

“Given the amount of speculation by the markets and commentary by officials ahead of Wednesday’s signing, it is unsurprising markets have not rallied too strongly upon final signing," said Hannah Anderson, a strategist at JPMorgan Asset Management. “Markets will likely continue to price in an elevated risk premium, which could be a source of volatility throughout 2020."

Elsewhere, Russia’s ruble fluctuated. President Vladimir Putin replaced his long-serving prime minister and called for sweeping constitutional changes, fueling speculation that the Russian leader is moving to extend his grip on power beyond the end of his term in 2024.

Here are some events to watch for this week:

Earnings season has begun in the U.S., with reports from Morgan Stanley and Bank of New York Mellon Corp. due Thursday

China GDP, along with key monthly data for December, come on Friday.

A final reading on the euro-zone’s December inflation is also due on Friday.

There are some of the main moves in markets:

Stocks

Futures on the S&P 500 Index were little changed as of 12:04 p.m. in Tokyo. The underlying gauge rose 0.2% on Wednesday.

Japan’s Topix index dipped 0.1%.

South Korea’s Kospi index added 0.2%.

Australia’s S&P/ASX 200 Index advanced 0.6%.

Shanghai Composite index dipped 0.2%.

Hang Seng index added 0.4%.

Currencies

The yen was at 109.93 per dollar, little changed.

The offshore yuan was steady at 6.8874 per dollar.

The Bloomberg Dollar Spot Index was flat.

The euro bought $1.1152, little changed.

Bonds

The yield on 10-year Treasuries was at 1.79%.

Australia’s 10-year yield fell about three basis points to 1.18%.

Commodities

West Texas Intermediate crude oil added 0.6% to $58.16 a barrel.

• Gold was flat at $1,557.02 an ounce.

(Except for the headline, this story has not been edited by Scrabbl staff and is published from a syndicated feed.)