Forex Marketz Daily Forex News – Fully Markets Update
Asian financial markets recovered from some early losses, during the Asian trade session today. Traders are monitoring comments between the United States and China as both sides will meet later today for high level talks.
The Nikkei 225, in Japan, was up 0.39 percent. The broader Topix index, in Tokyo, lost a fraction. Economic data out Japan showed that machine orders fell for the second month in a row. Their producer price index, for September, came in as expected.
In South Korea, the Kospi composite index was down almost three quarters of a percent. Elsewhere in the Asian and Pacific Rim, the Australian ASX 200 was up 0.11 percent.
On the mainland, in China, the Shanghai composite gained about 0.3 percent. The smaller Shenzhen composite assed 0.56 percent and the Shenzhen component was up 0.48 percent.
Asian Traders React Trade Comments between the US and China
China and the United States are scheduled to meet later today to restart high level trade negotiations in Washington DC. However, China has lowered their expectations to resolve a trade war that has dragged on for 15 months. This trade war has been a drag on the global economy.
China is not happy that the United States has black listed more Chinese firms.
On Wednesday, U.S. President Donald Trump expressed optimism. He said that there was a good chance that the U.S. and China will reach a trade agreement.
However, this morning, the South China Morning Post, as trade talks are set to start later on Thursday, has reported the two nations have made no to very little progress in preliminary level talks.
Overnight, The New York Times released a story that the White House is considering granting licenses that would allow American firms to sell non-sensitive technology to Huawei. Earlier in 2019, the Trump White House banned Huawei as they cited national security concerns.
