Asian stocks rebound on renewed hopes of US-China trade deal — Asian market latest


U.S. President Donald Trump meets NATO Secretary General, Jens Stoltenberg at Winfield House in London, Tuesday, Dec. 3, 2019. US President Donald Trump will join other NATO heads of state at Buckingham Palace in London on Tuesday to mark the NATO Alliance's 70th birthday. (AP Photo/Evan Vucci)

Japan’s Nikkei 225 (N225) advanced as much as 1% in early trading. It was last up 0.7%, still leading gains in the region. Investors are also looking ahead to details of a $120 billion stimulus package in Japan that could come out as soon as Thursday.
Hong Kong’s Hang Seng (HSI) gained 0.3%. China’s Shanghai Composite (SHCOMP) added 0.4%. South Korea’s Kospi (KOSPI) briefly rose 0.7%, but reversed the gains and fell 0.4% later in the morning.

That helped to alleviate concerns about a delay in the trade deal, according to Jingyi Pan, a market strategist for IG Group.

On Wednesday, stocks fell sharply after President Donald Trump suggested to reporters in London that a deal with Beijing might have to wait until after the 2020 election.

That contradicted remarks made last month, when Trump said the US and China were “potentially very close” to striking a deal.

The back-and-forth on US-China trade negotiations remains “the primary engine behind the twist and turns” for stock markets, Pan said.

It remains uncertain whether the US will impose the next round of tariffs on China on December 15. And that uncertainty could continue to drive the markets, she added.

>
Source link