Forex Marketz Daily Forex News – Fully Markets Update
Asian benchmark equity bourses gained ground by the afternoon, on Wednesday. Trader optimism was improved after China and the United States confirmed that their leaders would meet, next week, at the G-20 Summit in Japan.
In Japan, the Asian benchmark, the Nikkei 225, was up 1.65 percent. Shares of index heavyweight Softbank Group added 3.57 percent. The broader Topix index, in Tokyo, added 1.56 percent by the afternoon.
In South Korea, the Kospi composite index was up over one percent. Shares of Samsung Electronics and chip maker SK Hynix gained, respectively, 2.25 percent and 4.57 percent.
Elsewhere in the Asian and Pacific Rim, the Australian S&P ASX 200 was up over one percent with most sub-sectors in the green. The materials sub-sector added 1.3 percent as mining plays surged higher.
In China, the Shanghai composite tacked on 1.5 percent. The Shenzhen component was up 2.25 percent and the smaller Shenzhen composite gained 2.2 percent.
In Hong Kong, the Hang Seng index was up 2.3 percent.
Asian Traders React to Positive Trade War News
Trump and Xi will meet next week, in Japan, and traders are hoping that they can resolve their trade spat that began a year ago. This was a welcome development for global financial markets after the collapse of trade talks last month.
China has officially confirmed that President Xi will indeed meet with the U.S. President. However, their tone is more cautious. President Xi thinks both sides should continue to meet in order to resolve the trade dispute. Xi added that “the United States would treat Chinese firms with respect,” in an apparent slight over Huawei. Xi also said that by not talking was bad for both economies and for the world.
