Asian stocks mostly higher on trade optimism

Tuesday, 22. October 2019 07:38

Markets in Asia traded mostly higher on Tuesday on fresh hopes the United States and China are making progress towards ending their ongoing trade dispute. US President Donald Trump said he expects the phase two of the China deal to be easier to negotiate than the phase one which the US hopes to conclude and sign next month. Furthermore, White House economic adviser Larry Kudlow hinted Washington could drop tariffs planned for December if phase-one talks with Beijing end well, while China's Vice Foreign Minister Le Yucheng noted the two sides made some progress has been made in negotiations and stressed the dispute is likely to be resolved "as long as we respect each other and seek equal cooperation."

Hong Kong's Hang Seng added 0.14% at 7:30 am CET. In mainland China, the Shanghai Composite dipped 0.8% at 7:33 am CET, while the Shenzhen Composite rose 0.25% at 7:16 am CET.

Korea's Kospi surged 1.09% at 7:11 am CET and Australia's S&P/ASX 200 increased 0.30% at 7:17 am CET.

The Japanese Nikkei 225 was closed for a public holiday. The dollar was up 0.03% against the yen to sell for 108.6370 at 7:33 am CET.

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Breaking the News / NP