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Yuan steadies on potential U.S.-China trade talks, Asia stocks recover

China’s yuan firmed on Thursday on renewed U.S.-China trade talks hopes, though the mainland’s major stock indexes fluctuated before potential negotiations.

Photo: Reuters

The yuan posted its best session in 2-1/2 weeks on Wednesday, with solid rise in the U.S. session after media reported about Trump administration proposal.

It slipped 0.1 percent in the offshore trading on Thursday from its U.S. close to 6.8430 a dollar.

In the spot market, the onshore yuan stayed at 6.8327 per dollar in morning trade, its top since Sept. 7. 

The main Chinese gauge Shanghai Composite index was almost 0.1 percent higher. The blue-chip CSI300 index was virtually unchanged, dragged down by healthcare shares. The CSI300 healthcare sub-index rose 4.2 percent.

The Hong Kong Hang Seng Index inched up 1.6 percent. Japan’s Nikkei rose 1 percent, South Korea’s Kospi was 0.1 percent higher. Australian stocks dipped 0.4 percent.

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