Economic news

Asian stocks edge up on hopes about developments in trade dispute

Asian shares moved slightly higher on Monday as traders focused on developments on upcoming Sino-U.S. trade negotiations and the Chinese yuan jumped from critical lows.

Photo: Reuters

MSCI’s broadest index of Asia-Pacific shares gained 0.6 percent. Japan's Nikkei erased early gains, and was last down 0.1 percent.

The Shanghai Composite was virtually unchanged after losing 4.5 percent last week, while Hong Kong’s Hang Seng index soared 0.9 percent.

South Korea's Kospi was up 0.2 percent and Australian shares were steady as major bank stocks dropped.

Investors awaited U.S.-China trade talks, sheduled on Aug. 21 and 22, and central bankers meeting due later in the week.

In commodity markets, gold inched up 0.1 percent to $1,186.02 an ounce and Brent crude futures slipped 13 cents to $71.70 per barrel.


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