The start of the US trading session has been positive for traders of Tesla and Microsoft.
Asian equities show mixed performance
On Thursday, Asian equities demonstrated mixed performance in morning trade. The Brexit marathon keeps unrolling as British Prime Minister Theresa May told she’d step down if the UK legislative body approves her Brexit deal.
As a matter of fact, China’s Shanghai Composite sank by about 0.4%. As for the SZSE Component, it surged by 0.1%. In Hong Kong, the Hang Seng Index was nearly intact. Besides this, stocks of China Construction Bank Corp decreased by nearly 1.5% right after the company posted its first profit sink since 2015 in the first quarter of this year.
Besides this, Japan’s Nikkei 225 went down by 1.5%, while South Korea’s KOSPI slipped by 0.6%.
As for Australia’s ASX 200, it managed to tack on by about 0.3%.
Meanwhile, on the China-US trade front, American Trade Representative Robert Lighthizer as well as Treasury Secretary Steven Mnuchin are braced for having next round of trade negotiations with China’s statesmen in Beijing now. It was previously reported that the two sides expect to come to a compromise before the end of April.
Referring to an anonymous American statesman, Reuters informed that China and America have made progress in trade negotiations, with unprecedented movement on the delicate issue of forced technology transfers.
According to the source, the sides are actually negotiating forced technology transfer in a way they have never been eager to talk about before, well, both in terms of specifics and scope.
Considering the previous month’s texts, the sides managed to move forward literally in all areas. However, the trading partners haven’t reached the desired outcome yet. The agreement could be real already in April, although there’re still certain pitfalls.
During today's Turkish central bank meeting, the market anticipated a rate cut between 200-300 pips.
More tariffs were introduced
During the Asian trading session, the White House economic adviser Larry Kudlow announced the positive progress in phase one trade deal with China.
The Bank of Mexico is expected to cut its interest rate from 7.75% to 7.5% today at 21:00 MT time
Today, the oil prices may move on the release of crude oil inventories at 18:00 MT time.