Breaking News

You are here » Indian-Commodity  :  International & World Stock  :  Asian markets trade firm as US-China trade tensions ease

21-May2018

Asian markets trade firm as US-China trade tensions ease

Asian markets are trading mostly in green in early deals on Monday, after fears of a trade war between the U.S. and China receded following weekend developments. U.S. Treasury Secretary Steve Mnuchin said the Trump administration would delay implementing tariffs on Chinese goods, and would put the trade war on hold while details of a trade deal are worked out. U.S. trade representative Robert Lighthizer later said the U.S. may still impose tariffs. Japanese Nikkei edged higher on better-than-expected Japanese trade surplus for the month of April. The Ministry of Finance that Japan posted a merchandise trade surplus of 625.977 billion yen in April, up 30.9 percent on year. The headline figure exceeded expectations for a surplus of 440.0 billion yen following the downwardly revised 797.0 billion yen surplus in March. Exports were up 7.8 percent on year to 6.822 trillion yen, missing forecasts for an increase of 8.7 percent but up from 2.1 percent in the previous month. Imports advanced an annual 5.9 percent to 6.196 trillion yen versus expectations for 9.8 percent following the 0.6 percent contraction a month earlier. Among the other Asian markets, Malaysia, South Korea, Shanghai, Taiwan, Singapore, and Hong Kong are trading higher. Bucking the trend, Indonesia is lower.

FTSE Bursa Malaysia KLCI gained 6.63 points or 0.36% to 1,861.13, KOSPI Index rose 8.42 points or 0.34% to 2,469.07, Shanghai Composite jumped 24.63 points or 0.77% to 3,217.93, Nikkei 225 increased 101.49 points or 0.44% to 23,031.85, Straits Times added 30.93 points or 0.87% to 3,560.20, Taiwan Weighted surged 138.22 points or 1.28% to 10,969.06 and Hang Seng up by 391.97 points or 1.26% to 31,439.88. 

On the flip side, Jakarta Composite down by 37.51 points or 0.65% to 5,745.80.



Related News

View all news

US markets extend gains on optimism about trade leads

Extending gains for fourth straight session, the US markets ended sharply higher on Friday, with gains of over a percent each, as traders continued to express optimism about trade talks between the US......

US markets end higher on hopes of easing trade tensions

Magnifying their gains for third straight day, the US markets ended higher on Thursday on report that the US is considering lifting some tariffs on Chinese products in an effort to elicit more concessions......

US markets end higher for second straight session

Extending their gains for second straight day, the US markets ended higher on Wednesday, on the back of upbeat earnings report from financial institutions such as Bank of America (BAC) and Goldman Sachs......

Top News

View all news

Glenmark Pharma recalling 96,240 applicators of its product from US

Glenmark Pharmaceuticals is recalling 96,240 applicators of its product Estradiol vaginal inserts for defective delivery system. The USFDA has termed it as a Class-II recall. The USFDA has classified Class-II......

Infosys hires over 7,600 staff in US

Infosys has hired over 7,600 staff in the US. This hiring is more than three-fourth of its target of recruiting 10,000 American workers. The company is making recruitment from local schools a 'sustained......

SBI to sell 26% stake of SBI payment services

State Bank of India (SBI) is planning to sell 26% stake of its SBI payment services (SPSPL) to Hitachi Payment Services (HPY). After allotment of the shares, SBI shareholding in SPSPL will become 74% from......