US futures slip, yen higher on Hong Kong Bill
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A board displaying stock prices at the Australian Securities Exchange in Sydney on Feb 9, 2018.
PHOTO: REUTERS
SYDNEY (BLOOMBERG) - US equity futures slipped and the yen nudged higher after President Donald Trump signed a Bill backing Hong Kong protesters, a move that could further strain discussions on the trade front with China.
Stocks in Asia were mixed and the yuan retreated.
Stocks opened flat in Japan and equities edged up in Sydney, while those in Seoul fell.
Earlier, the S&P 500 hit a fresh record after data on US gross domestic product and claims for unemployment beat analysts' expectations.
The pound rose as a poll suggested the election could deliver a large majority for the Conservative Party.
With volumes light ahead of the Thanksgiving break and little in the way of direct trade news, investors are likely to focus on US relations with China after Mr Trump signed a Bill into law that expresses US support for Hong Kong protesters.
Still, a global benchmark of developing and emerging market equities remains just below its all-time record, on course for a third month of gains.
"The bad news is, the trade war is still on," Mr Andy Kapyrin, director of research at RegentAtlantic Capital LLC, told Bloomberg TV.
"I really don't see substantial progress on trade with China," and markets will perceive Mr Trump's signing of the Bill negatively, he said.
Elsewhere, a drop in Latin American currencies turned into a rout on Wednesday as Chile's peso, Brazil's real and Colombia's peso all hit record lows.
