Asian stocks open into positive territory on trade talk hopes

Economies.com
2019-10-08 04:17AM UTC

Asian stocks opened higher today, amid wide anticipation for the new round of the US-China trade talks in Washington, which is scheduled for next Thursday and Friday, in attempts to reach a final trade deal that will end the ongoing trade disputes between the two countries and to obviate the impending escalation by the middle of the current month.

 

The Chinese Vice Premier, Liu He, and Governor of the People's Bank of China, Yi Gang, confirmed their visit to Washington for the next round of talks in Oct 10 and 11, which increased the market hopes about some sort of a deal that will lead to the postponement of the US administration's tariffs increase decision on Chinese imports worth $250 billion to 30% from 25%, which is scheduled to take effect starting on Oct 15th.

 

The Japanese stocks surged today, as Topix rose by 0.82% or 12.89 points to 1,585.64 points, and Nikkei 225 jumped 1.03% or 221.22 points to 21,596.47.

 

The Chinese stocks also rose, as the CSI 300 index rose by 1.08% tor 41.34 points to 3,855.87, and the Shanghai Composite rose by 0.88% or 25.47 points to 2,930.66.

 

Hong Kong's Hang Seng Index rose by 1.24% or 319.10 points to 26,140.13, and the South Korean Kospi gained 1.01% or 20.49 points to 2,042.22.

 

To New Zealand's NZX 50, which rose by 0.03% or 3.83 points to 10,979.45, and the Australian S&P/ASX 200 rose by 0.45% or 29.74 points to 6,593.30.

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