Asian stocks are higher on Monday as entrepreneurs watch developments in a fresh trade talks between US and Chinese officials in Beijing this week. Markets in China and Taiwan, reopening after a one-week Lunar New Year break, posted broad gains.
Shanghai Composite Index
SHCOMP, + 1.36%
has grown 1.4%, while the smaller cap that Shenzhen Composite
399106, + 2.90%
jumped 2%. The Kospi
SEU, + 0.17%
in South Korea earned 0.1% while Hang Seng of Hong Kong
HSI, + 0.71%
increased by 0.7%. Australia's S & P ASX 200
fallen 0.2%. Stocks grew in Taiwan
Y9999, + 0.72%
but fell to Singapore
STI, + 0.13%
. Japanese markets are closed for a vacation.
Individual stocks, tech names such as AAC
2018, + 5.06%
2382, + 7.60%
0700, + 1.85%
rose in Hong Kong, while real estate companies fell. Hyundai Motors
005380, + 1.59%
rose in Korea, while Taiwan Semiconductor
2330, + 3.17%
2354, + 0.51%
rose in Taiwan. Bank stocks fell to Australia, led by National Australia Bank
at ANZ Banking
Achievements through technology companies and consumer goods led to higher U.S. indexes on Friday. They are more than a balanced loss of financial stocks and retailers after a mixed bag of quarterly revenues. The broad S & P 500 index
SPX, + 0.07%
climbed 0.1% to 2,707.88 and the Nasdaq composite
COMP, + 0.14%
rose 0.1% to 7,298.20. The Dow Jones Industrial Average
lost 0.3% to 25,106.33.
Officials from the U.S. and China will gather in Beijing for trade talks on Thursday and Friday. Secretary of the United States Department of Commerce Stephen Mnuchin and the trade representative Robert Lighthizer led the American delegation to the talks, aiming to bring both parties closer to resolve deep issues such as lack of happiness in Beijing's technology policy. Lower-level negotiations are set to start Monday, but a resolution is not expected before a tariff expiration agreement in early March. Any prior agreement, or a simple extension of time, can be seen as a positive for the markets. Otherwise, the U.S. to increase import taxes from 10% to 25% to $ 200 billion in Chinese commodities.
Axios said Sunday that White House advisers considered the club of President Donald Trump in Florida, Mar-a-Lago, as a site for a potential summit in Xi Jinping of China where reach a deal as soon as mid-March to end the trade war. "For the markets, after the worst December and January's best in years, it appears that we are returning to a tone change across various asset classes, waiting for the direction again , "Jingyi Pan of IG said in a market commentary  US crude
lost 46 cents to $ 52.26 per barrel in electronic trading on the New York Mercantile Exchange. Brent crude
LCOJ9, + 0.10%
used to price international oils, dropped by 14 cents to $ 61.96 per barrel.
USDJPY, + 0.46%
rose to 110.01 yen from 109.73 yen late Friday.
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