Stock Charts: US-China trade resolution talk moves to Washington
On Monday afternoon, most Asia markets are at positive levels. Meanwhile, trade talk resolution for US-China ready to resume in Washington this week. Upon considering that last week high-level meeting in Beijing concluded last week.
At the end of morning sessions today, Chinese mainland markets go higher. About 1.8 percent jump comes to the Shanghai composite as Shenzhen components gain about 2.534 percent. At the same time, Shenzhen composite gains about 2.408 percent. The Hang Seng Index from Hong Kong also gains 1.51 percent.
Nikkei 225 of Japan gains 1.82 percent during afternoon trade. Topix also advances by 1.56 percent. Fast Retailing shares, the company supporting the Uniqlo chain of apparel stores gains about 4 percent.
In South Korea, Kospi gains 0.67 percent while Samsung Electronics shares gains about 0.33 percent.
Meanwhile, ASX 200 of Australia is trading at about 0.35 percent higher during the afternoon. Australia’s energy subindex gains about 1.8 percent while oil company shares advances. Santos trade gains at about 1.42 percent higher, Woodside Petroleum gaining 2.8 percent. Beach Energy then gains about 3.32 percent.
As Monday starts, Australian governments report their national parliament’s computer network hit by an attack this month. “Cyber experts believe that a sophisticated state actor is responsible for this malicious activity,” says Prime Minister Scott Morrison.
In Singapore, the country set to reveal its budget for this year. DBS gains about 1.86 percent upon a bank announce their 28 percent from last years net profit.
Even with Monday gains, some strategist warns that the market is at “risky” moment.
Mark Jolley, CCB International Securities says, “look at how weak markets were on Friday, look how strong they are today. They’re very volatile, and this volatility that we’re seeing on a day-to-day basis is actually, you know, a sign that people are not that sure what’s … going on.”
Resume of trade talks
After some rounds of talks with Beijing last week, continuation for the US and China reports to progress upon their five-day talks. Both reports progress from the five-day meeting last week.
U.S. President Donald Trump during a speech at Washington says, “having a real trade deal” could be “honored” to eliminate tariffs whenever a resolution is clear.
President Trump also points out the possibility for an extension to the March 1 deadline. At the same time, tariffs for the Chinese goods might be implemented if both countries fail to have a resolution by the said date.
Oil and Currency changes
Oil prices process within the Asian trading hours during the afternoon. Brent crude futures loss its early gains trading slightly lower with about $66.22 a barrel. While U.S. crude futures profits about 0.40 percent amounting to $55.81 a barrel.
Tracking the greenbacks against the basket of peers, the U.S. dollar is up at about 96.773 upon seeing highs over 97.3 last week. Japanese yen, widely seen as a safe-haven currency were traded around 110.55 against the dollar sees lows at about 111 during the previous weeks. The Australian then was at $0.7155 after $0.705 lows last week.