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Update: 15 April, 2019 13:17 PM
Asian shares buoyed by optimism on US-China trade talks

Asian shares buoyed by optimism on US-China trade talks

Asian shares neared nine-month highs on Monday after US Treasury Secretary Steven Mnuchin said he hoped US-China trade talks were approaching a final lap, while strong Chinese export and bank loan data boosted confidence in the global economy.

The optimism on trade together with the US Federal Reserve pausing its rate tightening efforts and Britain lawmakers getting an extension on the country’s exit from the European Union helped lift the mood in equities markets.

“US-China trade concerns have receded, the Fed is no longer hiking rates and Brexit has been postponed, which all bodes well for risk assets,” said Takashi Hiroki, chief strategist at Monex Securities.

In early European trades, the pan-region Euro Stoxx 50 futures, German DAX futures and London’s FTSE futures each rose about 0.2 percent. E-Minis for the S&P 500 were little changed.

MSCI’s broadest index of Asia-Pacific shares outside Japan climbed 0.4 percent to its highest since late July. Chinese shares were buoyant, with the blue-chip CSI300 index rising 0.6 percent.

Hong Kong’s Hang Seng added 0.3 percent while South Korea’s KOSPI rose 0.5 percent. Japan’s Nikkei also joined the party, gaining 1.4 percent to close at its highest since early December.

On Saturday, Mnuchin said a US-China trade agreement would go “way beyond” previous efforts to open China’s markets to US companies and hoped that the two sides were “close to the final round” of negotiations.

Further whetting risk appetite, Reuters exclusively reported on Monday that US negotiators have tempered demands that China curb industrial subsidies as a condition for a trade deal after strong resistance from Beijing.

“We expect a relatively market-friendly US-China deal,” Bank of America Merrill Lynch global economist Ethan Harris said in a note. “In our view, market and political concerns will constrain future fights. Think ‘skirmishes’ rather than ‘major battles.’”

The rally in Asia follows on from strong finish on Wall Street on Friday as traders cheered Chinese data showing exports rebounded in March to a five-month high while new bank loans jumped by far more than expected.

সম্পাদক : ইমদাদুল হক মিলন,
নির্বাহী সম্পাদক : মোস্তফা কামাল,
ইস্ট ওয়েস্ট মিডিয়া গ্রুপ লিমিটেডের পক্ষে ময়নাল হোসেন চৌধুরী কর্তৃক প্লট-৩৭১/এ, ব্লক-ডি, বসুন্ধরা, বারিধারা থেকে প্রকাশিত এবং প্লট-সি/৫২, ব্লক-কে, বসুন্ধরা, খিলক্ষেত, বাড্ডা, ঢাকা-১২২৯ থেকে মুদ্রিত।
বার্তা ও সম্পাদকীয় বিভাগ : বসুন্ধরা আবাসিক এলাকা, প্লট-৩৭১/এ, ব্লক-ডি, বারিধারা, ঢাকা-১২২৯। পিএবিএক্স : ০২৮৪০২৩৭২-৭৫, ফ্যাক্স : ৮৪০২৩৬৮-৯, বিজ্ঞাপন ফোন : ৮১৫৮০১২, ৮৪০২০৪৮, বিজ্ঞাপন ফ্যাক্স : ৮১৫৮৮৬২, ৮৪০২০৪৭। E-mail : [email protected]