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Home / Business / Asian stocks rise after the outline report to end the US and Chinese trade wars

Asian stocks rise after the outline report to end the US and Chinese trade wars



Asian equity markets shook Thursday after a report that US and Chinese negotiators presented a plan to end the trade war.

Tokyo's Nikkei 225 Index

NIK, + 0.15%

rose 0.3%, although production activity had dropped to a three-year low, indicating slowing Japanese economic growth. The Shanghai Composite Index

SHCOMP, + 0.38%

rose 0.3%

Sydney's S & P ASX 200

XJO, + 0.70%

added 0.7%, while Hong Kong's Hang Seng

HSI, + 0.30%

gained 0.5%. Seoul Kospi

SEU, -0.04%

was unchanged. Benchmarks in New Zealand

NZ50GR, + 0.56%

and Taiwan

Y9999, + 0.46%

rose along with the Southeast Asian markets.

Under the single titles Rakuten

4755, + 4.75%

and Honda

7267, + 2.31%

continued to rise in trade in Tokyo, and Hyundai Motor won in Seoul

005380, + 1.26%

. Lenovo

0992, + 11.41%

Sunny Optical

2382, + 4.38%

and AAC

2018, + 3.28%

rose in Hong Kong while HSBC

0005, -1.74%

slipped. Bank shares such as ANZ Banking

ANZ, + 1.83%

and Commonwealth Bank

CBA, + 2.01%

rose in Australia.

Investors were encouraged by a Reuters report, which said that the US and China had, in principle, outlined outline agreements in six key areas, including cyber theft. Intellectual property rights and forced technology transfer. US stock futures jumped in immediately after the Dow futures report

YMH9, + 0.29%

more than 100 points.

Earlier, a US envoy said a Beijing meeting "made progress" last week. President Donald Trump told reporters Tuesday that the talks are "going very well." Trump proposed shifting tariffs on $ 200 billion worth of goods, but made no firm commitment.

The Federal Reserve reassured investors by releasing the minutes of their last meeting, saying it would be patient with interest rate hikes in the face of economic uncertainty.

Lacking details in the Fed's report "is allowing the region to await further US-China developments," Jingyi Pan of the IG said in a report. After markets rallied on Trump's positive comments, she said, "one should not be surprised" to see further gains.

The Benchmark Standard & Poor's 500 Index

SPX, + 0.18%

rose 0.2% to 2,784.70. The Dow Jones Industrial Average

DJIA, + 0.24%

added 0.2% to 25,954.44. The Nasdaq composite

COMP, + 0.03%

increased 0.03% to 7,489.07.

In Japan, the preliminary value of a monthly PMI fell to 48.5 on a 100 point scale from 50.3 in January. It was the second unusually strong monthly decline and the lowest PMI since October 2016. "Such sharp declines are rare and indicate that the economy is rapidly losing momentum," said Marcel Thieliant of Capital Economics in a report. Benchmark US crude

CLH9, + 1.44%

lost 8 cents to $ 57.24 a barrel in electronic trading on the New York Mercantile Exchange. The contract rose 71 cents on Wednesday to 57.16 USD. Brent

LCOJ9, + 0.15%

used to price international oil, rose 2 cents in London to $ 67.10 a barrel. In the previous session, the price rose by 63 cents to $ 67.08.

The dollar

USDJPY, -0.10%

fell from 110.85 yen on Wednesday to 110.82 yen.

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