On Thursday, Asian stocks rallied after the major US bank took a more accommodative stance at its policy gathering, although worries over US-China trade negotiations and decelerating global surged capped broad profits and suppressed some markets…
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.
On Wednesday, American stocks were nearly intact because market participants awaited more clarity on the Fed’s interest rate outlook for 2019, while some trade fears still persisted…
On Wednesday, Asian stocks dived because investors took profits ahead of a policy decision by the Fed, anticipated to tell more about its interest rate plans for the rest of 2019…
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…