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Stocks Edge Higher After Strong Run; Oil Climbs: Markets Wrap


Added 01-19-20 09:04:02pm EST - “(Bloomberg) -- Stocks in Asia saw modest gains on Monday as investors continued to bid up prices after seven weekly advances that's left a regional benchmark at the highest level since early 2018.Oil saw the most dramatic moves on…” - Finance.yahoo.com

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Posted By TheNewsCommenter: From Finance.yahoo.com: “Stocks Edge Higher After Strong Run; Oil Climbs: Markets Wrap”. Below is an excerpt from the article.

(Bloomberg) -- Stocks in Asia saw modest gains on Monday as investors continued to bid up prices after seven weekly advances that’s left a regional benchmark at the highest level since early 2018.

Oil saw the most dramatic moves on a Monday that may be otherwise subdued by a U.S. holiday. Crude rose following supply disruptions in Libya and Iraq. Currencies and bonds were little changed. Equities rose in Tokyo and Seoul, edged up in Sydney and opened little changed in Hong Kong and Shanghai. While stock benchmarks have hit record highs in the U.S. and Europe, the MSCI Asia Pacific Index remains more than 7% from its peak, still nursing wounds from the trade war and China’s slowdown.

Indicators of economic health from China and the U.S. last week provided some encouragement for investors looking for signs the global outlook is improving. Attention this week turns back to corporate earnings season.

“We are entering 2020 on a more stable footing with economies globally stabilizing and looking like they’re turning up, and the phase one trade deal” Anne Anderson, head of fixed income for Australia at UBS Asset Management, told Bloomberg TV in Sydney. “So it’s a bit more positive with regard to the economic fundamentals.”

Meanwhile, oil traders are watching developments in Libya after one of the country’s commanders blocked oil exports at ports under his control. International leaders are working in Germany toward a more durable cease-fire in the Libyan civil war. In Iraq, supply from a second production site is at risk as widespread unrest escalates in one of OPEC’s biggest producers.

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