Asian stocks were mostly higher on Monday, as traders looked at the trend of a fresh round of negotiations between US and Chinese officials in Beijing this week. Markets in China and Taiwan, reopening after a weekly Lunar New Year break, made huge gains.
Shanghai Composite Index
SHCOMP, + 1.36%
rose 1.4%, while the smaller cap Shenzhen Composite
399,106, + 2.90%
jumped 2%. Kospi
SEU, + 0.17%
in South Korea, 0.1% rose while Hong Kong's Hang Seng
HSI, + 0.71%
rose 0.7%. Australia's S&P ASX 200
XJO, -0.18%
decreased 0.2%. Shares rose in Taiwan
Y9999, + 0.72%
but fell in Singapore
PATH, + 0.13%
and Indonesia
JAKIDX, -0.23%
. Japanese markets were closed for a holiday.
Among the individual warehouses, technical names like AAC
2018 + 5.06%
, Sunny Optical
2382, + 7.60%
and Tencent
0700, + 1.85%
rose in Hong Kong while property companies fell. Hyundai Motors
005,380, + 1.59%
rose in Korea while Taiwan Semiconductor
2330 + 3.17%
and Foxconn
2354, + 0.51%
rose in Taiwan. Bank shares fell in Australia, led by National Australia Bank
NAB -1.62%
and ANZ Banking
ANZ, -1.30%
.
Benefits from technology and consumer goods companies led most US indices higher on Friday. The more than balanced loss of financial stocks and retailers following a mixed bag of quarterly income. The broad S & P 500 index
SPX, + 0.07%
climbed 0.1% to 2.707.88 and the Nasdaq composite material
COMP, + 0.14%
rose 0.1% to 7.298.20. Dow Jones Industrial Average
DJIA, -0.25%
lost 0.3% to 25.106.33.
US and China officials gather in Beijing for trade talks Thursday and Friday. US Treasury Secretary Stephen Mnuchin and Trade Representative Robert Lighthizer will lead the US delegation in the negotiations, aimed at bringing both sides closer to addressing profound problems such as the Beijing technology's technology misfortune. Lower-level negotiations have begun on Monday, but a decision is not expected until a trophy on tariffs expires in early March. Any deal before then, or a simple prolongation of the ceasefire, will be considered a positive for the markets. If not, the US is expected to raise import duties from 10% to 25% of $ 200 billion in Chinese goods.
Axios on Sunday reported White House advisors considering President Donald Trump's Florida club Mar-a-Lago as a venue for a potential summit with China's Xi Jinping, where an agreement could be reached as soon as mid-March to finish trade scream.
"For markets, after the worst of December and best January this year, it seems that we are back at bend across various asset classes and are waiting for direction again," said Jingyi Pan of IG in a market comment.
U.S. raw
CLH9, -0.44%
lost 46 cents to $ 52.26 a year barrel in electronic commerce on the New York Mercantile Exchange. Burned raw
LCOJ9, + 0.10%
used to price international oils, throwing 14 cents to $ 61.96 per tonne. barrel.
The dollar
USDJPY, + 0.46%
rose to 110.01 yen from 109.73 yen late Friday.
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