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: China Stocks Climb After Holiday Break, Driven By Trade-deal Hopes

share with twitter share with LinkedIn share with facebook
share via e-mail
0
02/11/2019 | 03:44am EDT

By Associated Press and Marketwatch

Smaller-cap Shenzhen Composite surges 3.5%

Asian stocks were mostly higher on Monday as traders watched for developments on a fresh round of trade talks between American and Chinese officials in Beijing this week. Markets in China and Taiwan, reopening after a weeklong Lunar New Year break, posted broad gains.

The Shanghai Composite index surged 1.4%, while the smaller-cap Shenzhen Composite jumped 2%. The Kospi in South Korea gained 0.1% while Hong Kong's Hang Seng rose 0.7%. Australia's S&P ASX 200 slipped 0.2%. Stocks rose in Taiwan , but fell in Singapore and Indonesia . Japanese markets were closed for a holiday.

Among individual stocks, tech names such as AAC , Sunny Optical and Tencent rose in Hong Kong, while real estate companies fell. Hyundai Motor rose in Korea, while Taiwan Semiconductor and Foxconn rose in Taiwan. Bank stocks fell in Australia, led by National Australia Bank and ANZ Banking (ANZ.AU) .

Gains by technology and consumer goods companies led most U.S. indexes higher on Friday. They more than balanced out losses by financial stocks and retailers after a mixed bag of quarterly earnings. The broad S&P 500 index climbed 0.1% to 2,707.88 and the Nasdaq composite rose 0.1% to 7,298.20. The Dow Jones Industrial Average lost 0.3% to 25,106.33.

Officials from the U.S. and China will gather in Beijing for trade talks on Thursday and Friday. U.S. Treasury Secretary Stephen Mnuchin and trade representative Robert Lighthizer will lead the American delegation at the talks, which are aimed at bringing both sides closer to resolving deep-seated issues such as unhappiness over Beijing's technology policy. Lower-level negotiations are set to begin Monday, but a resolution isn't expected before a truce on tariffs expires in early March. Any agreement before then, or a simple extension of the truce, will be viewed as a positive for markets. If not, the U.S. is expected to raise import taxes from 10% to 25% on $200 billion in Chinese goods.

Axios on Sunday reported White House advisors are considering President Donald Trump's Florida club, Mar-a-Lago, as a site for a potential summit with China's Xi Jinping where a deal could be reached as soon as mid-March to end the trade war.

"For markets, after the worst December and best January in years, it appears that we are back at inflection point across various asset classes, waiting for direction yet again," Jingyi Pan of IG said in a market commentary.

U.S. crude lost 46 cents to $52.26 per barrel in electronic trading on the New York Mercantile Exchange. Brent crude , used to price international oils, shed 14 cents to $61.96 per barrel.

   The dollar   rose to 110.01 yen from 109.73 yen late Friday. 
 

Stocks mentioned in the article
ChangeLast1st jan.
AAC TECHNOLOGIES HOLDINGS INC -1.18% 54.25 End-of-day quote.19.36%
AUSTRALIA AND NEW ZEALAND BANKING GROUP 1.00% 27.35 End-of-day quote.11.82%
CHINA-SHANGHAI COMP 0.09% 3201.61 End-of-day quote.28.17%
DJ INDUSTRIAL -0.22% 26597.05 Delayed Quote.14.02%
FOXCONN TECHNOLOGY CO LTD End-of-day quote.
HANG SENG -0.82% 29547.88 Real-time Quote.15.27%
HYUNDAI MOTOR CO End-of-day quote.
KOSPI COMPOSITE INDEX -0.50% 2191.74 Real-time Quote.7.90%
NASDAQ 100 -0.34% 7784.412576 Delayed Quote.23.39%
NASDAQ COMP. -0.23% 8102.014611 Delayed Quote.22.39%
NATIONAL AUSTRALIA BANK LTD. 1.18% 25.66 End-of-day quote.6.61%
NIKKEI 225 0.48% 22307.58 Real-time Quote.11.22%
S&P 500 -0.22% 2927.25 Delayed Quote.17.03%
S&P/ASX 200 0.99% 6382.1 Real-time Quote.11.92%
SUNNY OPTICAL TECHNOLOGY (GROUP) CO. LTD -0.69% 100.4 End-of-day quote.44.25%
TAIWAN SEMICONDUCTOR MFG. CO. LTD. End-of-day quote.
TENCENT HOLDINGS LTD 0.00% 393 End-of-day quote.24.84%
share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news "Markets"
11:09aSOUTHEAST ASIA STOCKS : Most slip; Indonesia falls most as consumer staples drag
RE
10:44aGlobal Stocks Follow Wall Street Lower
DJ
09:57aWorld stocks slip, euro suffers, growth fears linger
RE
09:50aWorld stocks slip, euro suffers, growth fears linger
RE
09:33aLONDON STOCK EXCHANGE : Sainsbury's leads FTSE 100 lower, Taylor Wimpey warning knocks housebuilders
RE
09:22aGlobal Stocks Follow Wall Street Lower
DJ
08:45aEUROPE : European shares fall as growth worries linger, Nokia tumbles
RE
03:41aASIA MARKETS: Asian Markets Mixed As Wall Street Retreats From Record Highs
DJ
04/24WALL STREET STOCK EXCHANGE : Oil hovers near six-month high as U.S. stockpile build counters supply fears
RE
04/24Wall Street edges lower, energy stocks fall
RE
Latest news "Markets"
Advertisement