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Home / Business / Asian stocks firmer on improved Sino-US trading tone, oil up 1%

Asian stocks firmer on improved Sino-US trading tone, oil up 1%



By Swati Pandey

SYDNEY (Reuters) – Asian equities rose on Monday in the hope of an interim Sino-US agreement after the two countries described their talks as "productive" and "constructive" while the oil more than 1

% as tensions in the Middle East continued to increase.

<p class = "Canvas Atomic Canvas Text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = "Australian Stocks <.AXJO> while the New Zealand Reference Index <.NZ50> was 0.2% higher, while South Korea's Kospi <.KS11> was somewhat weaker on disappointing trade data, while Japan's Nikkei <.N225> closed due to public holidays. "data-reactid = "24"> Australian equities <.AXJO> gained 0.4%, while the New Zealand Reference Index <.NZ50> was 0.2% higher. South Korea's Kospi <.KS11> was somewhat weaker after disappointing trade data, while Japan's Nikkei <.N225> was closed due to public holidays.

<p class = "canvas-atom canvas-text Mb (1.0em) Mb (0) –sm Mt (0.8em) – sm" type = "text" content = "This increased the MSCI index for Shares in Asia-Pacific outside Japan <.MIAPJ0000PUS> up 0.5% to 511.28 points in September. " data-reactid = "25"> As a result, MSCI's broadest index for Asia-Pacific equities outside of Japan <.MIAPJ0000PUS> rose 0.5% to 511.28 points. So far, it has risen by 3.4% in September.

<p class = "canvas-atom canvas-text Mb (1,0em) Mb (0) – sm Mt (0,8em) – sm" type = "text" content = "The E-Mini-Futures for the US S & P 500 rose 0.5%, while the Dow minis <1YMc1> gained 0.46%. " data-reactid = "26"> The US Mini-Futures for US S & P 500 rose 0.5% while Dow minis <1YMc1> gained 0.46%.

The gains came after the US Commerce office made a brief statement The two days of talks with China are described as "productive." It added that a principal-level trade meeting would take place in Washington in October, as previously planned.

The Chinese Ministry of Commerce described the talks as "constructive" in a brief statement, saying that they also had a good discussion on "detailed agreements" for the high-level talks in October.

In addition, at the request of US companies, the United States has removed duties on more than 400 Chinese products.

"The two nations continued constructively" This helped the sentiment, but the markets are still unconvinced, "said Rodrigo Catril, senior forex strategist at the National Australia Bank in Sydney US farms next week their two-day trial in Washington.

<p class = "canvas-atom-canvas-text Mb (1,0em) Mb (0) – sm Mt (0,8em) – sm" type = "text" content = " This led to losses in Wall Street closed on Friday with a decline of 0.6% for the Dow, 0.5% for the S & P500 <.SPX> and 0.8% for the Nasdaq <.IXIC>. "data-reactid =" 32 "> This led to losses on Wall Street on Friday, with the Dow easing by 0.6%, the S & P500 <.SPX> down 0.5% and the Nasdaq <.IXIC> around 0% , 8% signs of relief.

"Trade tensions are likely to grow and dwindle in the run-up to the October negotiations between the US and China, Citi's analyst Cesar Rojas said in a note.

We continue to believe that trade between the US and China will continue.

Later in the day, surveys on US and European Union manufacturing activity are released in September, which are closely monitored for signs of recovery.

Foreign exchange markets were muted.

<p class = "Canvas Atom Canvas text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm "type =" text "content =" The dollar gained 0.1% against the Japanese yen as a safe haven at 107, 74 after yielding 0.5% last week. The risk-sensitive Australian dollar rose 0.15% to $ 0.6777. "data-reactid =" 37 "> The dollar was up 0.1% against the Japanese yen to hit 107.74 after contracting 0.5% last week, with the risk-sensitive Australian dollar rising to 0 , 15% to $ 0.6777.

<p class = "canvas-atom canvas-text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = "The Euro was largely flat, as was the British Pound . Thus, the dollar index <.DXY> remained unchanged at 98.494. "data-reactid =" 38 "> The euro and the pound sterling remained largely unchanged, leaving the dollar index <.DXY> unchanged at 98.494.

<p class =" Canvas Atomic Canvas Text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm "type =" text "content =" For commodities, Brent Crude Futures increased by 1.12% or 72 cents US $ 65 per barrel, while US crude oil futures rose 1.19% or 69 cents to $ 58.78 a barrel. [O/R] "data-reactid =" 39 "> In commodities, Brent crude oil futures rose 1.12% or 72 cents to $ 65 a barrel, while US crude oil futures reversed [O/R]

The Pentagon has ordered the deployment of additional troops in the Gulf region to strengthen Saudi Arabia's air and missile defense following an attack on Saudi oil facilities. [O/R]

US Secretary of State Mike Pompeo said on Sunday that the additional troops were destined for "deterrence and defense," and Washington aimed to avoid a war with Iran. [GOL/]

<p class = "Canvas Atomic Canvas Text Mb (1.0 em) Mb (0) – sm Mt (0.8 em) – sm "type =" text "content =" Gold Spill was disabled 0.25% at $ 1,512.8 per ounce , "data-reactid =" 43 "> Spot Gold was 0.25% below $ 1,512.8 per ounce.

(Edited by Jacqueline Wong and Lincoln Feast)


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