Asian equities rally with China-US trade negotiations in focus

Asian equities rally with China-US trade negotiations in focus

On Friday, Asian equities surged because market sentiment got better on a report that more progress has been achieved in US-China trade negotiations and after British lawmakers decided to postpone a potentially chaotic departure from the European bloc.

However, the prospect of the trade negotiations taking longer than anticipated tamed the cheer. Additionally, there was still no clarity on how close the world’s two leading economies are on making a deal.

On Thursday, Mnuchin told that a summit to seal a trade agreement between the two leading countries won’t occur at the end of March as previously anticipated because more work is required in talks.  

MSCI index of Asia-Pacific stocks managed to rally by about 0.5%.

As for the Shanghai Composite Index, it headed north by nearly 1.3%.

Japan's Nikkei went up by 1%, while South Korea's KOSPI went up by 0.9%.

Overnight, global markets drew some relief, with EU equities soaring to a five-month maximum, underpinned by strength in the banking sector right after the UK parliament denied a disorderly Brexit.

However, the S&P 500 went down by 0.1%, snapping a three-day winning marathon, while the Nasdaq dived by 0.2% in the wake of uncertainty as for when a US-China trade agreement would be reached.

Meanwhile, in the Forex market, the UK pound stood still, sticking with $1.3237. On Thursday, the UK pound rebounded 0.75% because traders geared up for UK Prime Minister Theresa May to another try and gain approval for her Brexit agreement.

As for the evergreen buck, it held profits having snapped its four-day losing marathon to a bunch of its six key rivals.

The US currency managed to extend yesterday’s profits, soaring by 0.1% and trading at  111.84 yen.

Similar

Latest news

Evergreen buck heads north

On Friday, the evergreen buck rallied versus its counterparts after data disclosed that the American economy generated more jobs than anticipated In October, thus backing the Fed’s case to proceed with gradual rate lifts…

Gold ascends on Brexit jitters

On Tuesday, gold rallied because uncertainty over the latest developments in Britain’s departure from the EU backed safe haven demand and traders looked ahead for American inflation data to underpin the Fed’s pledge to remain on hold…

Deposit with your local payment systems

Callback

A manager will call you shortly.

Change number

Your request is accepted.

A manager will call you shortly.

Internal error. Please try again later

Beginner Forex book

Beginner Forex book will guide you through the world of trading.

The most important things to start trading
Enter your e-mail, and we will send you a free Beginner Forex book

Thank you!

We've emailed a special link to your e-mail.
Click the link to confirm your address and get Beginner Forex book for free.

You are using an older version of your browser.

Update it to the latest version or try another one for a safer, more comfortable and productive trading experience.

Safari Chrome Firefox Opera