On Friday, Wall Street's key indexes were braced for reporting their biggest weekly profits for a month because traders were quite optimistic about the everlasting trade negotiations to tackle a bruising tariff clash between China and America…
Asian equities hit four-month maximum on US-China trade deal expectations
On Wednesday, Asian equities rallied to a more than four-month maximum underpinned by hopes that China and America might be able to come to a compromise, thus resolving their long lasting trading conflict.
MSCI's index of Asia-Pacific equities managed to jump by 0.5% reaching its highest value since early October.
In Japan, Nikkei average ascended by 1.3% marking an eight-week maximum, while South Korea's KOSPI inched up by 0.5%.
The Chinese benchmark Shanghai Composite as well as the blue-chip CSI 300 tacked on by respectively 0.4% and 0.6%. The Hang Seng jumped by 0.6% in Hong Kong. Asia was influenced by Wall Street, where the Nasdaq and Dow each gained 1.5% overnight on expectations over US-China trade talks as well as an American congressional spending deal to prevent another government shutdown.
On Tuesday, American leader told he could consider letting the March 1 deadline for making a trade deal with the world’s number two economy slide a bit if the two sides were close to a complete agreement.
US and Chinese statesmen had expressed hopes that another round of negotiations that burst out this week would bring them closer to soothing their seven-month trade conflict.
The Cboe Volatility Index headed south to 14.95, which appears to be its lowest value for more than four months.
The 10-year American Treasury note gains extended an overnight leap and soared to a near one-week maximum of 2.694%.
The USD index kept to 96.697 after its eight-day winning marathon stopped overnight, rebounding from a two-month maximum.
The common currency rallied to $1.1333 having soared by 0.5% yesterday when it rebounded from a three-month minimum of $1.1258.
The evergreen buck was intact versus Japan’s currency sticking with 110.57 yen.
American crude futures ascended by 1% hitting $53.64 a barrel.
On Thursday, Wall Street shrugged off early losses because a sudden dive in retail sales affected investor hopes for progress at the everlasting US-China trade negotiations in Beijing…
On Wednesday, European equities went up because upbeat mood about Washington and Beijing trade negotiations backed global markets, while data revealed that earnings surge estimates for the European Union are stabilizing after abrupt downward revisions…
Safe havens such as gold and Japanese yen declined as investors sentiment was boosted by eased geopolitical tensions…
On Tuesday, the euro tacked on because market participants waited for reports on inflation and growth in the euro zone, while the Japanese yen went down after Japan’s major bank told it would be more flexible in its huge stimulus program…
On Tuesday, the evergreen buck dived because the common currency bounced off and the UK pound managed to ascend to the day’s maximums reacting to reports that British Prime Minister Theresa May is going to take control of Brexit talks…