Forex Marketz Daily Forex News – Fully Markets Update
The Asian benchmarks, by the afternoon Hong King time, were mostly trading higher. Traders were digesting positive development between China and the United States. Regional Asian traders, as well as global traders are expecting that the European Central Bank will slash its interest rates and deliver on more accommodative monetary measures when they announce later in the day.
The Nikkei 225, in Japan, was trading up by 0.8 percent and in Tokyo, the broader Topic index added 0.67 percent. In corporate news, shares of Yahoo Japan gained two percent as they announced that they want to take over clothing retailer Zozo. Shares of Zozo leaped nearly 15 percent on the news.
Elsewhere in the Asian and Pacific Rim, in Australia, the headline ASX 200 added 0.56 percent. Most of the sub-sectors on the ASX were in the green.
On the mainland, in China, the indices were mostly higher by lunch time. The Shanghai composite added 0.18 percent and the Shenzhen composite was flat. The Shenzhen component was up 0.16 percent.
In Hong Kong, the Hang Seng index was down a quarter of a percent. Traders are mulling over news that the HKEX announced a proposal to the board of LSE had been tendered to “combine the two companies.”
Asian Traders also Digest Trade Headlines between the US and China and Iran
Overnight, China announced that they would exempt from tariffs some U.S. anti-cancer drugs and other goods. U.S. President Donald Trump also announced that the United States would delay a scheduled tariff hikes on Chinese goods.
These goodwill concessions, from both sides, come just days before they are scheduled to meet to discuss trade and their trade war that has gone on for over a year.
Also in the new, yesterday, Donald Trump said that he was considering easing sanctions against Iran. This could be a boost for at risk assets like equities.
