Forex Marketz Daily Forex News – Fully Markets Update
The Asian markets advanced during the trade session on Tuesday. The major equity indices in Japan, South Korea, China and Hong Kong were all trading higher by the afternoon.
In Japan, the Asian benchmark, the Nikkei 225 was up over one percent. The broader Topix index, in Tokyo added 0.82 percent. In South Korea, the Kospi composite index rose 1.03 percent.
Shares of Samsung Electronics gained over one percent. The company is reporting their third quarter guidance and is saying that operating profit is expected to be better than expected.
The Chinese financial markets have reopened after being closed for a week thanks to a public holiday. The Shanghai composite gained better than half a percent. The Shenzhen composite was up 0.85 percent and the Shenzhen component added 1.17 percent.
In Hong Kong, the Hang Seng index rose 0.98 percent.
Elsewhere in the Asian and Pacific Rim, the Australian ASX 200 was up nearly half a percent.
Most sub-sectors on the ASX 200 were trading in the green including the heavily weighted banking sub-index. The so-called Big Four Banks were all trading higher by the afternoon.
Asian Wait on Trade News between the US and China
Looking at trade related news, deputy level meetings between the United States and China are going on in Washington DC. They are showing very little progress.
Top level talks are scheduled for Thursday. Chinese Vice Premier Liu He will sit down with U.S. Trade Representative Robert Lighthizer and Treasury Secretary Steven Mnuchin.
In about a week, the United State is set to increase tariffs on $250 billion of Chinese goods, to 30 percent from the current 25 percent.
President Donald Trump is continuing to threaten to pull the trigger on the tariff increase if no progress is made in trade talks. The United States has also placed an additional 28 Chinese firms on their trade blacklist.
