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Home / Business / Asian markets win ahead of US-China trade talks

Asian markets win ahead of US-China trade talks



Asian markets reached early trade on Tuesday amid hopes that trade talks between the United States and China could be made later this week.

China confirmed that its top trade negotiator, Vice Premier Liu He, would head its Washington delegation for high-level talks starting Thursday. However, China has reportedly taken some questions that the United States regards as a fight off the negotiating table.

President Donald Trump said Monday that there was a "good opportunity" to come to an agreement with China to end the annual customs war, though he added he would not be happy with a partial deal.

Meanwhile, the United States blacklisted a group of Chinese artificial intelligence companies as they said they were making technology used by the Chinese government to suppress their Muslim minority.

The United States also signed a limited trade agreement with Japan on Monday, giving American farmers the benefits they lost when Trump withdrew the United States from the Trans-Pacific Partnership in 201

7.

Japanese Nikkei

NIK, + 1.10%

rose 1.1% and Hong Kong's Hang Seng Index

HSI, + 0.58%

got 1% when it reopened after a holiday Monday. China's mainland markets reopened after a week-long holiday with the Shanghai Composite

SHCOMP, + 0.57%

up 0.8% and Shenzhen Composite

399106, + 0.52%

up 1%. South Korea's Kospi

180721, + 0.68%

achieved 1% and benchmark indices in Taiwan

Y9999, + 0.75%

Singapore

STI, + 0.51%

and Indonesia

JAKIDX, + 0.37%

advanced. Australia's S & P / ASX 200

XJO, + 0.45%

rose 0.4%.

Shares of Hong Kong Exchanges and Clearing Ltd.

388, + 2.74%

jumped after the company announced it had dropped the $ 37 billion bid to buy the London Stock Exchange after the two companies' boards were "unable to engage." LSE had previously rejected HKEX's bid, which became hostile.

Among individual stocks, Japan Steel Works

5631, + 3.80%

achieved in Tokyo Trading, along with Fast Retailing

9983, + 1.34%

and Toyota

7203, + 1.25%

. In Hong Kong, Volvo parents Geely Automobile

175, + 2.88%

PetroChina

857, + 2.53%

and property developer Country Garden

2007, + 0.19%

increased. Samsung

005930, + 1.36%

achieved in South Korea after warning of a sharp fall in operating profit, although it said chip sales could begin to recover after the new year. The mining giant Rio Tinto

RIO, + 1.12%

was up in Australia.

"After selling through the end of September, this positioning ahead of the trade talks suggests that the market is not completely pessimistic about the outcome," said Jingyi Pan, IG's market strategist for Singapore.

On Wall Street, the losing market expanded to a fourth week on Monday.

The market is moving away from a three-week scramble for a mostly depressing group of financial data that has aroused investors' concern that a slowdown in economic growth in the United States could worsen.

The combination of uncertainty surrounding the costly trade war between the United States and China and the exploration trend in Washington is likely to continue to drag on the economy and roads in markets.

S&P 500

SPX, -0.45%

fell 13.22 points, or 0.4%, to 2,938.79. Dow Jones industrial average

DJIA, -0.36%

slipped 95.70 points, or 0.4%, to 26,478.02. Nasdaq

COMP, -0.33%

dropped 26.18 points, or 0.3%, to 7,956.29.

Benchmark Crude Oil

CLX19, + 0.78%

added 32 cents to $ 53.07 per barrel. It dropped 6 cents to $ 52.75 a barrel Monday. Burnt crude oil

BRNZ19, + 0.82%

the international standard, rose 35 cents to $ 58.70 a barrel.

dollar

USDJPY, + 0.14%

rose to 107.32 Japanese yen from 106.84 yen on Monday.


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