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Asian Stocks Rose On Hopes of Optimistic Developments On The US-China Tariff Delays

On Thursday Stocks in Asia rose as investor hopes rose on optimistic developments on the U.S.-China trade front.

Chinese stocks kicked up on the day, with the Shanghai composite rising 0.75% to about 3,031.24 and Shenzhen component including 0.67% to 9,919.80. The Shenzhen composite progressed 0.58% to roughly 1,681.23.

Hong Kong’s Hang Seng index slid about 0.2%, as of its last hour of trading. Hong Kong Exchanges and Clearing Limited (HKEX) shares fell more significant than 3% following its proposal for the London Stock Exchange Group (LSE). The HKEX mentioned Wednesday a proposal to the board of LSE had been made to “combine the two companies.”

In the meantime, Anheuser-Busch InBev said Thursday it’s proceeding to explore its Budweiser initial public offering in Hong Kong, two months after saying it won’t proceed with the proposed listing.

Elsewhere, the Nikkei 225 raised 0.75% on the day to 21,759.61, whereas the Topix added 0.72% to close at 1,595.10. Shares of Yahoo Japan leaped 2.35% because the company offered to buy the majority of online clothing retailer Zozo. For its part, Zozo noticed it’s stock surge 13.43%.

In Australia, the S&P/ASX 200 gained 0.25% to close at 6,654.90.

Overall, the MSCI Asia ex-Japan index gained 0.46%.

The moves in the region got here as U.S. President Donald Trump tweeted Wednesday that increased tariffs on 250 billion dollar’s rate of Chinese goods that had been set to boot in on October 1 have now been delayed to October 15.

Trump said the decision was made at the demand of Chinese Vice Premier Liu He and in the event of the 70th-anniversary celebrations of the People’s Republic of China.

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