Forex Marketz Daily Forex News – Fully Markets Update
Sentiment in the Asian and Pacific Rim was improved on Tuesday. This sent Asian listed equities higher as traders digest positive news flow surrounding trade war commentary between China and the United States.
Also boosting regional sentiment was the initial public offering of Alibaba which premiered on Hong Kong exchange in the biggest IPO listing in 2019.
Shares of Alibaba, in Hong Kong, soared nearly seven percent by the afternoon. The Hang Seng index, however, was down around 0.1 percent.
In Japan, the benchmark Nikkei 225 was up 0.34 percent and in Tokyo, the broader Topix index added 0.23 percent.
In South Korea, the Kospi composite index was up just under half a percent by lunchtime.
Elsewhere in the Asian and Pacific Rim, the S&P ASX 200 gained three quarters of a percent. In Australian corporate news, Westpac, one of the Down Under’s Big 4 banks, announced that their chief executive officer would resign and their chairman would seek early retirement. Shares of Westpac jumped 1.8 percent on the news,
Asian Sentiment Improves as Trade Commentary Turns Positive Again
In the headlines, today, the China’s government run newspaper, reported that the China and the United States were close to a preliminary trade agreement. This was on their official Twitter feed.
Over the weekend, China invited United States Trade Representative Robert Lighthizer and Treasury Secretary Steven Mnuchin to Beijing to continue trade negotiations.
China’s Ministry Spokesperson, Geng Shuang, has said that China will “hope the US will work with China to find a mutually acceptable solution based on equality and mutual respect, which will serve the interests of China, the US and beyond.”
However, trader sentiment will soften, once again, if President Donald Trump indicates that he has no intentions of rolling back tariffs.
