Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 
OFFON

MarketScreener Homepage  >  News  >  Markets

News : Markets
Latest NewsCompaniesMarketsEconomy & ForexCommoditiesInterest RatesBusiness LeadersFinance ProfessionalsCalendarSectors 

ASIA MARKETS: Asian Markets Gain As U.S., China Agree To Go Back To The Negotiating Table

share with twitter share with LinkedIn share with facebook
share via e-mail
1
06/30/2019 | 11:25pm EDT

By MarketWatch and Associated Press

Stocks jump in Japan, mainland China

Asian markets mostly gained in early trading Monday, after the U.S. and China over the weekend agreed to a timeout in their tariff war and agreed to resume trade negotiations.

After meeting with China's President Xi Jinping on Saturday at the G-20 summit in Japan, President Donald Trump said that current tariffs would remain in place, but new ones would be placed on hold for the "time being." Trump said his talks went "even better than expected" and that "we're going to work with China where we left off." Despite his optimism, the U.S. and China remain entrenched in their positions, and it is unclear how long it may take to reach a final agreement. The two sides haven't met for formal negotiations since talks broke off in early May.

Japan's Nikkei rose 1.7%. The Shanghai Composite gained 1.9% and the smaller-cap Shenzhen Composite surged 2.4%, despite data that China's manufacturing activity slumped into contraction territory in June. South Korea's Kospi was about flat, while benchmark indexes in Taiwan , Singapore and Indonesia advanced. Australia's S&P/ASX 200 gained 0.6%. Hong Kong's market was closed for a holiday.

"After spending the better part of two months in trade war purgatory and with G-20 done and dusted, risk markets have responded to Saturday's events in a reveller tone," Stephen Innes, managing partner at Vanguard Markets, said in a note Monday. "Indeed, investors heaved a massive, but exhausted, sigh of relief."

"The biggest question on everyone's mind is will any armistice stick or will history repeat, and trade war gridlock set in?" he added.

Among individual stocks, Japan Steel surged in Tokyo trading. Sony and robotics maker Fanuc also rose, while Rakuten slid. In Hong Kong, food processor WH Group fell, along with Wharf Real Estate and PetroChina . Samsung and LG Electronics declined in South Korea. Foxconn and Taiwan Semiconductor gained in Taiwan, and Oil Search advanced in Australia.

Stocks mentioned in the article
ChangeLast1st jan.
CHINA-SHANGHAI COMP 0.28% 2823.82 End-of-day quote.13.05%
FANUC CORP -0.77% 17925 End-of-day quote.11.51%
FOXCONN TECHNOLOGY CO LTD End-of-day quote.
JAPAN STEEL WORKS LTD -0.42% 1651 End-of-day quote.-4.62%
KOSPI COMPOSITE INDEX -0.62% 1925.98 Real-time Quote.-5.66%
LG ELECTRONICS INC. End-of-day quote.
NIKKEI 225 0.06% 20418.81 Real-time Quote.3.20%
OIL SEARCH LIMITED -3.66% 6.31 End-of-day quote.-11.87%
PETROCHINA COMPANY 0.00% 6.1 End-of-day quote.-15.40%
RAKUTEN INC -0.39% 1011 End-of-day quote.41.80%
REGENT MANNER INTERNATIONAL HOLDINGS LTD 0.00% 1.79 End-of-day quote.0.00%
S&P/ASX 200 -0.04% 6405.5 Real-time Quote.16.82%
SAMSUNG ELECTRONICS CO LTD End-of-day quote.
SONY CORP -0.38% 5816 End-of-day quote.12.98%
TAIWAN SEMICONDUCTOR MFG. CO. LTD. End-of-day quote.
WH GROUP LTD 2.58% 6.36 End-of-day quote.4.78%
WHARF REAL ESTATE INVESTMENT COMPANY LTD End-of-day quote.
share with twitter share with LinkedIn share with facebook
share via e-mail
1
Latest news "Markets"
08:02aMARKET SNAPSHOT: Stock-market Investors Rattled By Bond Market's Recession Warning -- Here's What's Next
DJ
02:36aWALL STREET WEEK AHEAD : Lower rates could boost housing stocks, but risks remain
RE
08/16TSX rises 0.86 percent to 16,149.79
RE
08/16After Yield-Curve Inversion, Tech Stocks Look Promising -- Update
DJ
08/16WALL STREET STOCK EXCHANGE : U.S. Stocks Rise but Notch Modest Weekly Loss
DJ
08/16J.C. PENNEY, VIACOM, GENERAL ELECTRIC : Stocks That Defined the Week
DJ
08/16MARKET SNAPSHOT: Dow Ends Up 300 Points After Volatile Week But Stocks Still End Down For Week
DJ
08/16Dollar firms, stocks soar on ECB rate cut expectations
RE
08/16Dollar firms, global stocks soar on ECB rate cut expectations
RE
08/16Dollar firms, stocks soar on ECB rate cut expectations
RE
Latest news "Markets"
Advertisement