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Asian shares grow Sino-U.S. trade talks optimism

On Friday Asian stocks gained on optimistic mood over high-level trade negotiations among Washington and Beijing.

topixPhoto: Flickr

Traders restored hunger for riskier assets burdened the risk-off Japanese yen and U.S. Treasury rates, while oil remained firm on remarks about conceivable supply trims from the head of OPEC.

In the morning Asian exchange, MSCI's broadest equity indicator of Asia-Pacific stocks outside Japan advanced by 0.5 percent, after additions on Wall Street. S&P e-mini futures gained 0.2 percent.

Japan's Nikkei gained 1 percent and Hong Kong's Hang Seng Index bounced 1.3 percent. The Shanghai Composite was almost unchanged while the smaller-cap Shenzhen Composite skidded 0.4 percent. South Korea's Kospi increased by 0.8 percent, and benchmark equity indicators in Malaysia, Singapore, and Indonesia rose marginally. Australia's S&P/ASX 200 progressed 0.6 percent. Taiwan's Taiex stayed shut for a vacation.

Among individual shares, Uniqlo parent Fast Retailing flooded in Tokyo exchanging following detailing equity indicator benefit for the third financial year in a row. Honda and oil maker Inpex additionally gained. In Hong Kong, national oil organization CNOOC edged higher, as did tech giant Tencent and Sun Hung Kai Properties. Samsung Electronics gained in South Korea, while BHP and Rio Tinto advanced in Australia.

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  • avatar-1349
    • #

    Is the trade deal good news or bad? I guess we’ll find out. I’m thinking it’s bad for the US markets!

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