Published 18:15 IST, September 26th 2019
World shares mostly higher on hopes for US-China trade talks
World shares mostly rose Thursday after U.S. President Donald Trump suggested a costly tariff war with China could be resolved soon. The traders look forward.
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On September 26, World shares mostly rose Thursday after U.S. President Donald Trump suggested a costly tariff war with China could be resolved soon. Germany’s DAX vanced 0.5% to 12,290 and CAC 40 in Paris climbed 0.7% to 5,623. Britain’s FTSE gained 1.1% to 7,367. Wall Street looked set for gains, with futures for Dow and S&P 500 up 0.2%. Stocks began rising Wednesday after Trump told reporters that China wants “to make a deal very bly” and it “could happen sooner than you think.”
“Investors have been ‘tre war’ bearish for so long that any sliver of optimism is cheered,” said Stephen Innes of AxiTrer in a report.
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Market rises in Asia
In Asia, Tokyo’s Nikkei 225 picked up 0.1% to 22,048.24 while Hong Kong’s Hang Seng gained 0.4% to 26,041.93. Shanghai Composite Index lost 0.9% to 2,929.09. Trers took profits before tring halts next week for National Day holiday following an extended rise in prices, especially for tech stocks. “To avoid uncertainty, funds will sell and pocket ir money,” China Securities Journal said on its website. Seoul’s Kospi was up 1 point at 2,074.52 while Sydney’s S&P-ASX 200 retreated 0.5% to 6,677.60. India’s Sensex ded 1.1% to 39,009.11.
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US-China dispute
U.S.-Chinese dispute over Beijing’s tre surplus and techlogy ambitions has fueled anxiety global ecomy could tip into recession. Both sides have raised tariffs on billions of dollars of each or’s goods, hurting factories and farmers on both sides. ding to optimism, a Chinese Commerce Ministry spokesman on Thursday confirmed reports that importers h completed deals for purchases of American pork and soybeans. Negotiators are due to meet next month in Washington for 13th round of talks. Ecomists say a temporary deal is possible but a final settlement is unlikely this year.
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Deal with Japan
Trump signed a tre deal with Prime Minister Shinzo Abe of Japan on Wednesday that covers farm, industrial and digital tre but leaves tariffs on autos and parts at 2.5%. That prompted Japanese automakers to appeal to ir government for more support. deal caps negotiations that began last year after Trump complained about Japan’s tre surplus with United States and threatened higher tariffs and or measures. deal with Japan “suggests president is open to an ‘interim’ tre deal, possibly signaling he is willing to negotiate one with China,” said Innes. Investors meanwhile largely shrugged off news of impeachment proceedings against Trump, though y will monitor its progress as a congressional probe might complicate White House efforts to resolve tre disputes with China and or nations.
ENERGY: Benchmark U.S. crude fell 3 cents to $56.46 per barrel in electronic tring on New York Mercantile Exchange. contract lost 80 cents on Wednesday. Brent crude, used to price international oils, fell 10 cents to $61.33 per barrel in London. contract declined 69 cents in previous session.
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CURRENCY: dollar declined to 107.66 yen from Wednesday’s 107.75 yen. euro slipped to $1.0937 from $1.0944 after a German member of European Central Bank’s top council quit, possibly over a disagreement with new stimulus measures.
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17:59 IST, September 26th 2019