Bitcoin price today: gains to $120k, near record high on U.S. regulatory cheer
(Corrects typographical error in lead paragraph)
* U.S.-China Phase 1 trade deal to be signed later on Weds
* Tariffs to stay until there is Phase 2 agreement: Mnuchin
* Wall St stocks flat; Yields inch lower; FX subdued except
yuan
* Asian stock markets: https://tmsnrt.rs/2zpUAr4
By Tomo Uetake
TOKYO, Jan 15 (Reuters) - Stocks were steady in early Asian
trade on Wednesday as investors awaited the signing of an
initial U.S.-China trade deal, with sentiment somewhat dented by
comments from the U.S. Treasury Secretary that tariffs would
remain in place for now.
MSCI's broadest index of Asia-Pacific shares outside Japan
.MIAPJ0000PUS eased 0.13%, Japan's benchmark Nikkei .N225
and South Korea's Kospi .KS11 shed 0.29% and 0.48%,
respectively, while Australian stocks .AXJO added 0.33%.
Treasury Secretary Steven Mnuchin said late Tuesday that the
United States would keep in place tariffs on Chinese goods until
the completion of a second phase of a U.S.-China trade
agreement.
The news came hours before the signing of a preliminary
trade agreement to ease an 18-month-old trade war between the
world's two largest economies.
Wall Street stocks dipped on Tuesday, reversing earlier
intraday record highs, after media reported the United States
would likely maintain tariffs on Chinese goods past November's
presidential election. .N
"We should not expect further tariff relief until after the
November Presidential elections, suggesting that today's
agreement is probably as good as it gets for 2020," said Tapas
Strickland, director of economics at National Australia Bank.
U.S. Treasury yields ticked down as investors took stock of
weaker-than-expected consumer prices and the expected signing of
the interim trade deal, with benchmark 10-year note yield
falling to 1.807% US10YT=RR . US/ Markets were also absorbing news the U.S. government is
nearing publication of a rule that would vastly expand its
powers to block shipments of foreign-made goods to China's
Huawei, as it seeks to squeeze the blacklisted telecoms company,
two sources said. In the currency market, the Japanese yen reversed earlier
losses against the dollar as news U.S. tariffs would remain on
Chinese goods through the U.S. election hurt risk sentiment.
The yen was last changing hands at 109.95 yen JPY= to the
dollar, flat on the day, after hitting its weakest in near 8
months of 110.22 yen previous day.
The euro was last traded at $1.1129 EUR= , also little
changed on the day.
The offshore yuan CNH= weakened to 6.899, after rising to
6.865 per dollar, the strongest since July 11, on Tuesday.
The dollar index against a basket of currencies was flat at
97.367 .DXY
Oil prices edged higher on Tuesday after five days of
declines as the United States and China prepared to sign the
preliminary trade deal and as Middle East tensions eased. O/R
In early Asian trade on Wednesday, U.S. West Texas
Intermediate (WTI) crude CLc1 slipped 0.1% to $58.17 per
barrel.