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Asian stocks tend to rally after Huawei's Wall Street Rally



TOKYO (AP) – Asian equities were mostly higher on Tuesday after Wall Street hit US decision to grant Chinese telecommunications giant Huawei another 90 days to buy equipment from American suppliers for signs of Progress in the trade war between the US and China are curious.

Japan's benchmark Nikkei 225 gained 0.4% in the morning trade to 20,653.93. The Australian S & P / ASX 200 gained almost 0.7% to 6,510.40. South Korea's Kospi rose 0.3% to 1,946.30, while Hong Kong's Hang Seng lost 0.2% to 26,234.85. The Shanghai Composite barely changed and declined by less than 0.1% at 2,881.06.

On Wall Street, the S & P 500 climbed 34.97 points or 1

.2% to 2,923.65. The Dow Jones Industrial Average rose 249.78 points or 1% to 26,135.79. The index briefly gained 336 points. The technology-weighted Nasdaq gained 106.82 points, or 1.3%, to 8,002.81. Even smaller company shares had a good day. The Russell 2000 Index gained 15.21 points or 1% to 1,508.85.

Recently, investors have been trying to determine if there is a recession in sight in the US. A key concern is that the trade conflict between the two countries will escalate and become costly. The largest economies will hinder growth around the world.

Earlier this month, Trump announced plans to extend tariffs to virtually all Chinese imports. Tariffs have been delayed, but will ultimately increase costs for US companies importing goods from China.

Huawei has become part of the trade war, and the White House shows its willingness to use sanctions against the company as a negotiating ground. The US government blacklisted Huawei in May because it poses a national security risk. This means that US companies are not allowed to sell the company's technology without government approval.

"Although not unexpected, the prolongation of Huawei sanctions had taken place, which helped to ease the markets earlier this week," said Jingyi Pan, market strategist at IG in Singapore.

ENERGY:

The reference price for crude oil decreased by 1 cent to 56.13 USD per barrel. Brent crude, the international standard, rose 4 cents to $ 59.78 a barrel.

CURRENCIES:

The dollar rose from 106.36 yen on Monday to 106.59 yen. The euro weakened from $ 1,1104 to $ 1,1087.


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