Home / Business / Asian markets are struggling as growth worries surpass the hopes of the trade

Asian markets are struggling as growth worries surpass the hopes of the trade

The Asian market ended mixed on Monday as hopes for a trade agreement mingled with concerns about global growth.

The Shanghai Composite Index

SHCOMP, -0.34%

closed 0.3%. Nikkei 225 index in Japan

NIK, + 1.37%

jumped 1.4% and the Kospi in South Korea

SEU, + 0.42%

added 0.4%.

Hong Kong's Hang Seng

HSI, -0.33%

increased 1.1% to 30,245.00, while the Australian S & P ASX 200

XJO, + 0.00%

lost 0.1%. Shares rose in Taiwan.

On Saturday, US Treasury Secretary Steven Mnuchin told reporters that the US and China were approaching a trade agreement.

On the sidelines of the International Monetary Fund and World Bank Spring Conference, Mnuchin said the US and China had made phone calls last week and were unsure if further personal meetings would be required. He did not set a timeline for the end of the negotiations, but his comments raised hopes that a far-reaching dispute between the two largest economies in the world might soon be suspended.

Reuters reported on Sunday that the US was doing so The weakening demands that China reduce industrial subsidies as a precondition for a trade deal after encountering strong resistance in China. On Saturday, US Treasury Secretary Steve Mnuchin said the US was open to the effects if trading conditions were not met, Bloomberg News said, saying the talks would "get closer to the final round of final questions". [19659002] "The US and China have actively awakened the hope that a trade agreement is within reach. Combined with better-than-expected Chinese data in March, the Shanghai Composite Index has reached its highest level since March 2018, "commented DBS Group research strategists Philip Wee and Joanne Goh in a commentary.

Under the individual stocks of the SoftBank Group

9984, + 3.05%

jumped in Tokyo in commerce and at Nintendo

7974, + 1.87%

and the oil producer Inpex

1605, + 2.62%

also increased. In Hong Kong, real estate companies are landing like China Resources Land

1109, -0.43%

and Country Garden

2007, + 0.61%

rose. Asiana Airlines

020560, + 30.00%

rose in South Korea after reports that its parent company had agreed to sell a stake in the airline. Beach-energy

BPT, + 1.90%

and oil search

OSH, + 1.13%

advanced in Australia.

Last week, China reported that its March exports had risen 14.2% yoy. This was a turnaround from a 20.8% decline in February, signaling stronger global demand. Sales in the US market accelerated despite duties imposed by President Donald Trump on Chinese goods valued at $ 250 billion, up to 25%.

Meeting of representatives of the International Monetary Fund in Washington DC warned a common warning about global economic growth, after the chief economist of the IMF had left a poor assessment on April 10 S & P 500 Index

SPX, + 0.66%

for the third time in a row weekly. It was 0.790% higher at 2,907.41.

The Dow Jones Industrial Average

DJIA, + 1.03%

rebounded 1% to 26,412.30 and the Nasdaq alliance

COMP, + 0.46%

rose 0.5% to 7,984.16.

Benchmark US crude oil

CLK9, -0.99%

fell 33 cents to $ 63.56 a barrel in electronic trading on the New York Mercantile Exchange. The contract won 31 cents and closed at $ 63.89 on Friday. Brent crude oil

LCOM9, -0.85%

used to sell international oils, lost 21 cents in London to $ 71.34 a barrel. In the previous session, he raised 72 cents to $ 71.55.

The dollar

USDJPY, -0.04%

weakened from 112.01 yen to 111.94 yen late on Friday.

Important information for the US Dealing Day. Subscribe to MarketWatch's free Need to Know newsletter. Sign up here.

Source link