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20-Aug2018

Asian markets trade mostly in green in early deals

Asian markets are trading mostly in the green in early deals on Monday tracking the firm cues from Wall Street on optimism that U.S.-China trade talks will resolve their escalating trade dispute. The US Trade Representative's office said on Friday it doubled the length of tariff hearings on the next $200 billion worth of Chinese goods to six days from the previously planned three due to overwhelming demand from companies to testify. The hearings will be held August 20-24 and on August 27. However, the Japanese market is trading modestly in red terrain in choppy trade as a stronger yen dragged exporters' shares lower. On the economic front, Japan will provide July data for convenience store sales later in the day.

Straits Times increased 7.59 points or 0.24% to 3,217.03, Jakarta Composite soared 93.12 points or 1.58% to 5,876.92, Hang Seng surged 244.25 points or 0.89% to 27,457.66, KOSPI added 0.08 points to 2,247.13 and Shanghai Composite was up by 2.96 points or 0.11% to 2,671.93.

On the flip side, Nikkei 225 decreased 64.05 points or 0.29% to 22,206.33 and Taiwan Weighted was down by 1.22 points or 0.01% to 10,689.74.


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