Asian Traders Look towards Trade Talks in Washington

Asian markets were mostly higher today by the afternoon trade hours. Asian and regional traders are looking forward to this week’s trade talks between the United States and China which will take place in the U.S. capitol. This comes after trade meetings in Beijing which ended last week.

The Asian benchmark, in Japan, the Nikkei 225 was trading higher. The Nikkei was up 1.8 percent by the afternoon. The broader Topix index, in Tokyo, also gained. The Topix was up 1.53 percent. Shares of Fast Retailing, the parent company of Uniqlo clothing stores, gained about four percent.

In South Korea, the Kospi composite index was up 0.56 percent. Shares of blue chip Samsung Electronics were up by 0.22 percent.

In Australia, the benchmark S&P SX 200 was also trading higher. The ASX 200 was up 0.35 percent by the afternoon trade. Most sub-sectors were trading higher. The energy sub-index was up 1.8 percent. Shares of the oil companies gained ground thanks to a rise in oil prices.

Asian Traders Look Towards this Week’s Trade Talks in The U.S.

In the headlines today, regional traders are hoping that the United States and China will reach a new trade deal soon. Both economic superpowers will resume trade talks in Washington. These talks are scheduled for this week. Time is running out to reach an agreement before the March 1 deadline.

President Donald Trump said again, on Friday, that he might extend a March 1 deadline. This is giving hopes to trades that a trade deal might be near.

Mainland Chinese markets were higher today. The Shanghai composite rose 1.8 percent. The smaller Shenzhen composite gained 2.40 percent. The Shenzhen component gained 2.53 percent.

In Hong Kong, the Hang Seng Index was up 1.51 percent.