Asian stocks open higher positive to follow Wall Street

Economies.com
2019-10-22 03:31AM UTC

The major Asian stocks indices opened on a mixed note on Tuesday but mostly positive to follow their counterparts at Wall Street, as the Chinese stocks were seen mixed, while the Australian, New Zealand stocks in addition to Hong Kong's Hang Seng index and the South Korean Kospi rising, with the absence of the Japanese stocks in observance of the Emperor's Coronation holiday.

 

President Donald Trump said earlier this week that he hopes a final trade deal will be signed with Chinese Vice Premier Liu He, at the Asia-Pacific Economic Cooperation (APEC) summit next month, noting that both sides have made substantial progress on the interim trade agreement, and added that China is currently buying large quantities of US farm products..

 

The White House economic adviser, Larry Kudlow, also noted yesterday that the tariffs on Chinese imports will be removed, should the first phase of the trade talks between the two countries concluded well, and noted that matters between Washington and Beijing seem very good and the talks are still going, and that the human rights issue is one of the main files in the talks.

 

 Otherwise, the markets are closely anticipating the outcome of the British parliament's vote on the draft Brexit deal that was reached last week by British PM Boris Johnson with the European Union, in addition to the EU's response to Johnson's letter in which he requested another Brexit deadline extension for additional three months beyond 31 October.

 

The Chinese stocks saw mixed performance during sessions, as the CSI 300 index fell by 0.03% or 1.27 points to 3,879.57, but the Shanghai Composite index rose by 0.09% or 2.74 points to 2,942.36.

 

Hong Kong's Hang Seng index rose by 0.22% or 57.97 points to 26,783.65, and the South Korean Kospi rose by 1.12% or 23.08 points to 2,087.92.

 

To New Zealand's NZX 50, which rose by 0.23% or 25.57 points to 11,088.32, and the Australian S&P/ASX 200 rose by 0.32% or 21.29 points to 6,673.80.

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