Forex Marketz Daily Forex News – Fully Markets Update
Markets in the Asian and Pacific Rim were trading higher by today’s afternoon hours. Asian traders were happy , but looking for clarity, with recent comments on the Chinese and U.S. Trade War made by U.S. President Donald Trump overnight.
As of 12:30 pm Hong Kong time, the Japanese benchmark, the Nikkei 225, was trading higher as it extended gains from yesterday. The Nikkei added 1.41 percent. The broader Topix index, in Tokyo, was up 0.98 percent.
In South Korea, the Kospi composite index was up 0.38 percent.
The MSCI Asia ex-Japan index was up 0.49 percent to trade at 516.19. This is its highest level October 2018.
In China, the mainland markets were also trading higher. The Shanghai composite was trading up by 0.94 percent. The Shenzhen component gained 1.28 percent. The Shenzhen composite was up 1.18 percent.
In Hong Kong, the Hang Seng index was up 0.8 percent.
Elsewhere in the Asian and Pacific Rim, the S&P ASX 200 reversed early gains to fall 0.36 percent after lunch.
In Australian corporate news, the oil and energy company Beach Energy saw its shares gain 6.07 percent. The company announced increased sales revenue this morning. They also noted that forward guidance for 2019 would be better
Asian Traders need more Clarity with Trump’s Comments
On Tuesday, U.S. President Donald Trump said that he might let the March 1 deadline for reaching a trade deal slide little. He said that the two close were close to reaching a new trade deal. This would end their trade war.
As of March 1, U.S. tariffs on $200 billion of imports from China will increase from ten to 25 percent from 10 percent if China and the U.S. cannot reach a trade agreement. This would cause more economic hardship for sectors ranging from consumer electronics to agriculture.
