Forex Marketz Daily Forex News – Fully Markets Update
Asian stocks fell in early trade this morning, the recovered some losses thanks to an announcement out of China that they are sending a delegation to Washington for new trade talks.
China’s Ministry of Commerce said, overnight that they would send a delegation led by vice commerce minister Wang Shouwen to the United States for trade talks sometime later this month.
This is at the invitation of the United States. They will be led by U.S. Under Secretary of Treasury for International Affairs, David Malpass, the US commerce ministry said in a statement. China’s commerce ministry said that China is fully against unilateralism and protectionism. However, they are open to dialogue.
Markets in China recovered from earlier losses on the news. The Shanghai Composite was last down 0.39 percent. This market had started the day down more than one percent. Hong Kong’s Hang Seng Index was also lower. Shares were down 0.43 percent.
The Asian benchmark in Japan, the Nikkei 225, was up. Shares gained 0.13 percent. They are now in positive territory. Earlier they had shed better than three hundred points.
Other Asian Markets recover earlier Losses on The Trade Headlines
South Korea’s Kospi composite index was down. Shares lost 0.94 percent. The tech sector was mixed after its Wall Street tech names came under pressure yesterday.
Shares of SK Hynix was down sharply. They shed 2.11 percent while blue chip and index heavyweight Samsung Electronics was down 1.44 percent.
Elsewhere in the Asian and Pacific Rim, the Australian S&P ASX 200 lost 0.15 percent. The energy and materials sub-indices were down thanks to lower commodity prices from overnight trading.
