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Asian stocks close steady as investors watch out for U.S. – China Trade Talks

Asian stocks close steady as investors watch out for U.S. - China Trade Talks

On Wednesday, major Asian share markets mixed as traders awaited Federal Reserve policy guidance as well as the outcome of trade talks between the United States and China.

The mainland markets in China dropped back into negative territory with the Shanghai Composite index fell about 0.72 percent to 2,575.58 and the Shenzhen component slipped 1.070 percent to 7,470.47. However, Hong Kong’s Hang Seng index added 0.4 percent as shares of Tencent, a Chinese tech company, fell 0.29 percent. Japan’s Nikkei 225 closed 0.52 percent to 20,556.54, while South Korea’s Kospi grew 1.05 percent to finish its trading day at 2,206.20.

Australia’s ASX 200 jumped 0.21 percent with mining stocks rose in Australia. Rio Tinto surged 4.51 percent while BHP reported a sizeable gain, adding 2.55 percent gains. Fortescue Metals Group advanced 7.75 percent. Apple reported surge by 5.7 percent to $163.50 and the S&P 500 index also jumped 0.1 percent closing at 2,640.00.

The U.S. dollar index traded at 95.818 following an earlier low of around 95.6 yesterday. Then the Japanese yen was at 109.29 after facing lows yesterday. The Dow Jones Industrial Average reached at 24,579.96, up 0.2 percent and The Nasdaq composite declined 0.8% to 7,028.29.

Rakuten Securities Australia reported in a note that investors are watching out for a positive outcome from the trade talks between the U.S. and China.

China’s Vice Premier Liu He will meet U.S. authorities on Wednesday and Thursday in Washington. Traders are looking for developments on the trade talks.

Benchmark U.S. crude grew 53 cents to $53.84 per barrel and International benchmark Brent crude futures rose 65 cents to $61.85 per barrel. U.S. crude added $1.32 to close at $53.31 per barrel, while Brent crude gained $1.39 to settle at $61.20 per barrel.

Aniket Tak
About Author
Sr. Business Writer At Industry Journal

Aniket has extensive experience in the field of financial and business analysis and provides a comprehensive and accurate view of market trends. Aniket has practical skills in statistics and numbering, which makes him expertise in the field. He also participates in several surveys and important interviews with industry experts, professionals and various organizations. He is the true adherent of yoga and meditation, which makes him calm personality on the ground.


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