With shareholders hoping for some positive steps forward in the continual Sino-U.S. trade war, there was quite an improvement in the Asian shares. The value of the dollar was boosted with the outperformance of current U.S. economic data. Following the loss of approximately 0.4% in the previous week, there was a spike of 0.8% in the MSCI’s widest index of Asia-Pacific stakes outside Japan.
Moreover, there was a 0.4% and 0.5% raise in Shanghai blue chips and Australian shares, respectively. At the same time, Japan’s Nikkei secured 0.9%. While there was a 0.6% boost in the shares of EURO STOXX 50 futures, the shares of S&P 500 E-Mini futures showed growth of about 0.3%. Last week, the possibility of a preliminary trade agreement with China was stated by Robert O’Brien, the U.S. National Security Advisor. However, he pointed out that Washington will not overlook the current situations in Hong Kong. This comment by O’Brien intensifies the distress that these discussions can have the worst impact of Chinese onslaught on anti-government rallies in Hong Kong.
The Head of Financial Market Strategy at Westpac, Robert Rennie stated, “Markets are demonstrating a few indications of tiring of the constant drip-feed of upbeat comments from the U.S. officers and no signals of a concluding agreement.” He highlighted that there is no confirmation of the final agreement even after 6 Weeks following the finalization of the “phase-one” deal.
On a similar note, with the U.S.-China trade war continuously giving unhopeful signals to the markets, there was a drop in the prices of gold in the Asian markets. Gold Futures plunged 0.4% to about $1,465.05. Last week, Chinese President Xi Jinping stated that China has been “actively putting its efforts to avoid a trade war. This is not something we want and we did not start this trade war.” While the U.S. President Donald Trump and Xi Jinping stated that both want to agree on a phase-one trade deal, its finalization might get prolonged till 2020.
After accomplishing a Degree of MBA in Business Development, Warren worked as a successful Content Editor for 6 years. In addition to this, he engaged himself in writing news reports and articles on diverse topics from the Business field on a freelance basis. At last, his gradually increasing interest in writing pushed him into this profession. Warren is a successful news editor and writer serving this field from the last 4 years. His admirable quality to work with perfection and putting total efforts in all projects he manages has made him the Head of the Business Department at News Ledger 24.