Tuesday , January 19 2021

China's shares rise after a holiday holiday run by trade bargaining hopes



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.

Provides critical information to the US trading day. Subscribe to MarketWatch's free need to know newsletter. Sign up here.


Source link