Asia Markets: Asian markets gain on reports of renewed U.S.-China trade talks - Trade Stocks

Asia Markets: Asian markets gain on reports of renewed U.S.-China trade talks

By Wed, Jul 24, 2019

Asian markets were mostly higher in early trading Wednesday, after reports that the U.S. and China will soon resume trade negotiations.

A delegation led by U.S. Trade Representative Robert Lighthizer and Treasury Secretary Steven Mnuchin will fly to Shanghai for high-level talks next week, the Wall Street Journal reported Tuesday. White House economic adviser Lawrence Kudlow said China may be prepared to buy more U.S. agricultural products as a “good-will gesture.” Top U.S. and Chinese negotiators have not met in person since talks stalled in early May.

Japan’s Nikkei rose 0.5% NIK, +0.50%   while Hong Kong’s Hang Seng Index HSI, +0.85%   gained about 0.9%. The Shanghai Composite SHCOMP, +0.99%   advanced 1.1% and the smaller-cap Shenzhen Composite 399106, +1.37%   was up 1.4%. South Korea’s Kospi 180721, -0.20%   slipped 0.2%, while benchmark indexes in Taiwan Y9999, +0.01%  , Singapore STI, +0.21%   and Indonesia JAKIDX, -0.21%   were mixed. Australia’s S&P/ASX 200 XJO, +0.81%   rose 0.8%.

Among individual stocks, Screen Holdings 7735, +3.86%   and Sony 6758, +1.66%   rose in Tokyo trading. SoftBank 9984, +1.67%   also gained after a report that Dish Network DISH, +3.37%   has agreed to a $5 billion wireless-asset purchase, clearing the way for the mega-merger between T-Mobile TMUS, +0.62%   and Sprint S, +1.29%  , which is majority owned by SoftBank. In Hong Kong, Geely Automobile 175, +3.97%   gained, as did Apple AAPL, +0.78%   component suppliers Sunny Optical 2382, +4.65%   and AAC 2018, +1.68%  . Apple supplier LG Display 034220, -2.05%   fell in South Korea after announcing a wider-than-expected quarterly operating loss. Westpac WBC, +1.59%   and National Australia Bank NAB, +1.29%   rose in Australia

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