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Asian stocks are mostly higher on US-China trade war optimism



Asian stocks traded higher on Tuesday following a meeting on Wall Street.

Traders are cautiously optimistic again about the potential for progress in the costly US-China trade war.

Japan's benchmark Nikkei rose 1.1 percent, Hong Kong's Hang Seng rose first, but reversed its rate and was down nearly 0.2 percent and China's Shanghai Composite was up 1.4 percent when a report showed China's industrial companies returned to profit in July ..

MORE FROM FOXBUSINESS.COM [19659005] In Europe, German GDP fell 0.1
percent in the second quarter, which was in line with expectations.

US stock futures pointed to a 0.2 percent decline.

Monday's meeting on Wall Street started early after President Trump said the dealers had received encouraging calls from China on Sunday, though China's foreign ministry denied knowledge of such talks. [19659008] Ticker Security Last Change % Chg In: DJI DOW JONES AVERAGES 25898.83 +269.93 + 1.05% [19659016] SP500 S&P 500 2878.38 +31.27 + 1.10% I: COMP NASDAQ COMPOSITE INDEX 7853.735283 +101.97 [196590171965] 1.32] The S&P 500 rose 31.27 points, or 1.1 percent, the Dow Jones Industrial Average gained 269.93 points, or 1.1 percent, and the Nasdaq, which is heavily weighted with technology stocks, rose 101.97 points, or 1, 3 percent.

The major US indices are on track for losses of 3 percent or more in August, in what has been an unstable month for the market as investors try to measure whether trade conflicts and slowing economies around the world will pull the United States into a recession.

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Global markets emerged against another wave of selling early Monday, when the indexes in Asia closed lower, until Trump said his traders had received two "very good conversations" from China.

The Associated Press contributed to this article.


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