Asian shares were mostly higher on September 05 amid encouraging global developments, including British lawmakers seeking a less chaotic exit from European Union and easing political tensions in Hong Kong. Japan’s benchmark Nikeki 225 rose 2.3% to 21,131.08 in morning tring. Australia’s S&P/ASX 200 ded 1.0% to 6,618.40, while South Korea’s Kospi gained 1.2% to 2,013.04. Hong Kong’s Hang Seng was up nearly 0.4% at 26,620.94, while Shanghai Composite rose 1.6% to 3,004.54.

Shares rallied on Wall Street, reversing Tuesday’s losses when disappointing U.S. manufacturing data and an escalation in ongoing tre war between U.S. and China led to a sell-off that ended a three-day winning streak for market. S&P 500 gained 31.51 points, or 1.1%, to 2,937.78. Dow Jones Industrial Aver 237.45 points, or 0.9%, to 26,355.47. Nasdaq, which is heavily weighted with techlogy stocks, climbed 102.72 points, or 1.3%, to 7,976.88. Russell 2000 index of smaller-company stocks picked up 12.47 points, or 0.8%, to 1,484.76.

RE: Global Stocks Lower After US - China Tre Jitters Resurface

Focus on geopolitical developments

Investors have been worried that tre war and a slowing global ecomy could tip U.S. into a recession. But trers set aside those concerns Wednesday, focusing inste on geopolitical developments. In Hong Kong, government withdrew an extrition bill that h set off three months of protests. In Europe, Britain’s parliament took a big step toward passing a law that could stop Prime Minister Boris Johnson’s plan to pull out of EU on Oct. 31 with or without a withdrawal agreement. Leaving EU without a deal that covers tre and or issues could result in ecomic chaos for Britain and complicate tre with member nations in EU. lingering tre conflict between Washington and Beijing has roiled markets this summer. ecomic uncertainty has also become a drag on companies.

RE: Tre War: Asian Stocks Mixed After US, China Impose New Tariff Hikes

tariff war

On Sunday, conflict escalated as U.S. imposed a 15% tariff on about $112 billion of Chinese products. China responded by charging tariffs of 10% and 5% on a list of American goods. escalation h been expected since early August when U.S. anunced plans for new tariff measures, prompting China to retaliate. China’s Commerce Ministry anunced Thursday that talks with United States on ending ir tariff war will take place in early October in Washington, later than previously planned. Some analysts warned against too much optimism.

“While a drop in geopolitical risk premium comes as a welcome relief, but with omnipresent tre war clouds looming omiusly over market threatening to come thundering down at any time, air remains thick with caution,” said Stephen Innes, Asian Pacific market strategist with AxiTrer.

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Benchmark crude oil edged up 12 cents to $56.38 a barrel. It rose $2.32 to settle at $56.26 a barrel Wednesday. Brent crude oil, international standard, gained 17 cents to $60.87 a barrel. dollar rose to 106.63 Japanese yen from 106.21 yen on Wednesday. euro strengned to $1.1032 from $1.1009.

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