Asian markets gained in early trading Tuesday, ahead of the first round of trade negotiations between the U.S. and China since early May.
Talks are scheduled to begin Tuesday in Shanghai, though expectations are low. “I don’t know if they’re going to make a deal,” President Donald Trump said last week. “Maybe they will, maybe they won’t.”
Investors were also watching two influential central banks. The Bank of Japan announced Tuesday that it will leave its monetary policy unchanged, as expected, and maintained its guidance of extremely low rates at least through spring 2020, while noting it would not hesitate to take easing action if necessary. Traders had been looking for indications of future easing in the wake of the European Central Bank’s signal last week of a potential rate cut to come. Meanwhile, the U.S. Federal Reserve is expected to announce a small rate cut on Wednesday, its first since 2008.
Japan’s Nikkei
NIK, +0.43%
rose 0.7% and Hong Kong’s Hang Seng Index
HSI, +0.23%
gained 0.5%. The Shanghai Composite
SHCOMP, +0.39%
advanced 0.7% while the smaller-cap Shenzhen Composite
399106, +0.45%
surged 1%. South Korea’s Kospi
180721, +0.45%
rose 0.7%. Taiwan’s Taiex
Y9999, -0.50%
slipped, while benchmark indexes in Singapore
STI, +0.02%
and Indonesia
JAKIDX, +0.90%
gained. Australia’s S&P/ASX 200
XJO, +0.28%
advanced 0.2%.
Among individual stocks, robotics maker Fanuc
6954, +3.14%
rose in Tokyo trading, as did chip maker Tokyo Electron
8035, +3.03%
and Hitachi
6501, +2.98%
. In Hong Kong, Sunny Optical
2382, +0.59%
, Ping An Insurance
2318, +0.26%
and Wharf Real Estate
1997, +2.48%
posted sold gains. Samsung
005930, +0.98%
advanced in South Korea, while LG Electronics
066570, -1.60%
slipped. In Australia, Beach Energy
BPT, +0.48%
and BHP
BHP, +0.57%
ticked up.
Source : MTV
