(Bloomberg) -- The recent rout in Asian equities may be abating with the region’s stocks set to stem the recent losing streak as U.S. shares halted a global selloff, while the dollar climbed.
Equity-index futures in Japan signaled the Nikkei 225 Stock Average will recover some of its worst slide in nine months, while futures in Australia, Hong Kong and South Korea also rose. The S&P 500 Index ended little changed, with software makers gaining while energy shares slumped as crude fell past $56 a barrel after data showed growing gasoline inventories. Developing-nation stocks sank to a two-month low.
Global markets have succumbed to a bout of profit taking this week with eight days of losses for Asian equities culminating Wednesday in the biggest slide since last December for the region’s stocks index. Technology stocks, this year’s biggest winners, have posted the largest declines along with emerging-market shares, also standout winners in 2017.
Elsewhere, sterling weakened as efforts to rescue Brexit talks appeared to stumble. The loonie fell as the Bank of Canada kept borrowing costs on hold at its last interest-rate decision of 2017 and reiterated it will be “cautious” with future moves.
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Here are some of the key events facing markets in the coming days:
- The U.S. faces a partial government shutdown after money runs out on Dec. 8 if Congress can’t agree on a spending bill by then.
- U.S. employers probably hired at a robust pace in November as the unemployment rate held at an almost 17-year low. The Labor Department’s jobs report Friday may also show a bump up in average hourly earnings.
These are the main moves in markets:
Stocks
- The S&P 500 closed little changed.
- Futures on Japan’s Nikkei 225 Stock Average climbed 0.4 percent.
- Futures on Hong Kong’s Hang Seng Index and Australia’s S&P/ASX 200 Index rose 0.3 percent.
- Futures on South Korea’s Kospi index rose 0.2 percent.
- The MSCI Emerging Market Index dropped 1.5 percent.
Currencies
- The Bloomberg Dollar Spot Index gained 0.3 percent.
- The euro declined 0.3 percent to $1.1795.
- The pound decreased 0.4 percent to $1.3393.
- The yen rose 0.3 percent to 112.28 per dollar.
Bonds
- The yield on 10-year Treasuries fell one basis points to 2.34 percent.
- Australia’s 10-year yield was steady at 2.51 percent.
Commodities
- West Texas Intermediate crude fell 2.9 percent to $55.97 a barrel.
- Gold fell 0.2 percent to $1,263.37 an ounce.