Major Asian Markets Gain Higher Since US-China Trade Talks Restart

Most of the major Asian markets in recent time closed higher, as expectations elevated on reported development in trade conciliations amid Washington and Beijing. The Shanghai Composite climbed 3.20% to close at 3,090.76, while the Shenzhen Component increased by 3.77% to 9,906.86. The Shenzhen Composite rebounded by 3.38% higher to finish at 1,695.13. In the meantime, Hong Kong’s Hang Seng index was higher by 0.94%. In Asia, Japan’s Nikkei 225 rose by 0.82% to close at 21,205.81 since shares of Softbank Group increased by 1.90%, whilst the Topix index surged by 0.56% to finish at 1,591.64.

The Japanese yen—which is mostly observed as a safe-shelter currency—traded at 110.56 alongside the dollar after reaching a low of previously 110.92. In South Korea, the Kospi was higher by 0.59% to close at 2,140.67, with shares of chip manufacturer SK Hynix trimming earlier earnings to finish 2.63% higher. Australia’s ASX 200 surged by 0.07%. Over the night on Wall Street, the stocks soared. The Dow (Dow Jones Industrial Average) was at 25,717.46 by earning 91.87 points and the S&P 500 added 0.4% to 2,815.44. The Nasdaq Composite surged by 0.3% to 7,669.17. The moves came after Reuters reported that Chinese executives made extraordinary offers about forced technology shifts plus other major sticking aspects, as Robert Lighthizer (the U.S. Trade Representative) and Steven Mnuchin (Treasury Secretary) visited Beijing for further negotiations.

On a similar note, Chinese shares surged over 3% as trade talks in Beijing terminate. The CSI300 index—which trails the biggest shares in China—saw major earnings of 3.86% to finish at 3,872.34. Chinese markets had been on a tear in 2019 as their crash in 2018. The Shanghai Composite had bounced around 24% ever since the end of 2018, though the Shenzhen Component has increased around 36.8% in the same period.

Leave a comment

Your email address will not be published. Required fields are marked *