Asian markets mixed at open following US' rally, Trump’s talk on China trade deal
Tokyo's Nikkei 225 was 1.17% higher on Tuesday morning while China's Shanghai Composite Index rose 1.16%. Hong Kong’s Hang Seng Index slid 0.11%, amid the months of anti-government protests in the region.
Most markets in Asia rose on Tuesday morning, following the equities rally in the United States (US) overnight after American president Donald Trump spoke on a possible China trade deal.
Trump reversed gears again, telling reporters on Monday the US and China were set to resume efforts to resolve their year-long trade war.
Last weekend, China’s Finance Ministry announced new tariffs of between 5% and 10% on US$75 billion worth of goods from the US, in a retaliation to the earlier 10% of tariffs on US$300 billion worth of Chinese goods. The Finance Ministry also reinstated 25% of tariffs on US automobiles and auto parts. The tariffs were initially suspended after the leaders of both countries met in Argentina last year.
US president Donald Trump had in response ordered US firms to ‘immediately start looking for an alternative to China’.
Tokyo’s Nikkei 225 opened higher on Tuesday, up 1.02% in early trade, edging higher subsequently at 10.45am Tokyo time, up 1.17% or 236.75 points, at 20,497.79.
China’s Shanghai Composite Index rose 1.16% or 33.11 points, at 2,896.68. Meanwhile, the smaller board Shenzhen Composite Index gained 0.90% or 14.05 points, to 1,580.62.
Singapore’s Straits Times Index edged 0.15% or 4.55 points higher, at 3,069.88. Malaysia’s Kuala Lumpur Composite Index fell by 0.25% or 4.04 points, at 1,596.49.
Hong Kong’s Hang Seng Index slid 0.11% or 29.44 points, at 25,650.89, amid the months of anti-government protests in the region.
Wall Street recouped some of its losses from last week, with the Dow Jones Industrial Average up 1.05% or 269.93 points to end Monday’s session at 25,898.83. The broader S&P 500 gained 1.10% or 31.27 points to close at 2,878.38.
Tech-rich Nasdaq leaped 1.32% higher, or 101.97 points, to settle at 7,853.74.
Oil prices rise on Trump’s calming words
Oil prices rose on Tuesday with Brent Crude oil futures up by 27 US cents, or 0.5%, at US$58.97 per barrel at 00.24am GMT. US crude oil gained 23 US cents at US$53.87 per barrel.
Brent oil fell 1% in the previous session and was down for the third day in a row while US crude oil also dropped 1% previously after four days of declines.
This information has been prepared by IG, a trading name of IG Markets Limited. In addition to the disclaimer below, the material on this page does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instrument. IG accepts no responsibility for any use that may be made of these comments and for any consequences that result. No representation or warranty is given as to the accuracy or completeness of this information. Consequently any person acting on it does so entirely at their own risk. Any research provided does not have regard to the specific investment objectives, financial situation and needs of any specific person who may receive it. It has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such is considered to be a marketing communication. Although we are not specifically constrained from dealing ahead of our recommendations we do not seek to take advantage of them before they are provided to our clients. See full non-independent research disclaimer and quarterly summary.
Seize your opportunity
Deal on the world’s stock indices today.
- Trade on rising or falling markets
- Get one-point spreads on the FTSE 100
- Unrivalled 24-hour pricing
See opportunity on an index?
Try a risk-free trade in your demo account, and see whether you’re on to something.
- Log in to your demo
- Try a risk-free trade
- See whether your hunch pays off
See opportunity on an index?
Don’t miss your chance – upgrade to a live account to take advantage.
- Get spreads from one point on the FTSE 100
- Trade more 24-hour indices than any other provider
- Analyse and deal seamlessly on smart, fast charts
See opportunity on an index?
Don’t miss your chance. Log in to take your position.
Live prices on most popular markets
- Equities
- Indices
- Forex
- Commodities
Prices above are subject to our website terms and agreements. Prices are indicative only. All share prices are delayed by at least 15 minutes.
Prices above are subject to our website terms and agreements. Prices are indicative only. All shares prices are delayed by at least 15 mins.
