cloudy
Sunday February 17th, 2019 4:48AM

Asian stocks rise ahead of new round of US-China trade talks

By The Associated Press
Related Articles
  Contact Editor

SINGAPORE (AP) — Asian stocks were mostly higher on Monday as traders watched for developments on a fresh round of trade talks between American and Chinese officials in Beijing this week. Markets in China and Taiwan, reopening after a weeklong Lunar New Year break, posted broad gains.

KEEPING SCORE: The Shanghai Composite index jumped 1.1 percent to 2,646.45. The Kospi in South Korea advanced 0.2 percent to 2,180.73 and Hong Kong's Hang Seng rose 0.3 percent to 28,038.09. Australia's S&P ASX 200 was 0.2 percent lower at 6,060.80. Stocks rose in Taiwan but fell in Thailand, Singapore and Indonesia. Japanese markets were closed for a holiday.

WALL STREET: Gains by technology and consumer goods companies lifted most U.S. indexes on Friday. They more than balanced out losses by financial stocks and retailers after a mixed bag of quarterly earnings. The broad S&P 500 index climbed 0.1 percent to 2,707.88 and the Nasdaq composite rose 0.1 percent to 7,298.20. The Dow Jones Industrial Average lost 0.3 percent to 25,106.33. The Russell 2000 index of smaller company stocks advanced 0.1 percent to 1,506.39.

U.S-CHINA TALKS: Officials from the U.S. and China will gather in Beijing for trade talks on Thursday and Friday. U.S. Treasury Secretary Stephen Mnuchin and trade representative Robert Lighthizer will lead the American delegation at the talks, which are aimed at bringing both sides closer to resolving deep-seated issues such as unhappiness over Beijing's technology policy. Lower-level negotiations are set to begin Monday, but a resolution isn't expected before a truce on tariffs expires in early March. Any agreement before then, or a simple extension of the truce, will be viewed as a positive for markets. If not, the U.S. is expected to raise import taxes from 10 percent to 25 percent on $200 billion in Chinese goods.

ANALYST'S TAKE: "After the worst December and best January in years, it appears that we are back at inflection point across various asset classes, waiting for direction yet again," Jingyi Pan of IG said in a market commentary.

ENERGY: U.S. crude lost 64 cents to $52.08 per barrel in electronic trading on the New York Mercantile Exchange. It gained 8 cents to settle at $52.72 per barrel in New York. Brent crude, used to price international oils, shed 48 cents to $61.62 per barrel. It added 47 cents to close at $62.10 per barrel in London.

CURRENCIES: The dollar rose to 109.95 yen from 109.73 yen late Friday. The euro strengthened to $1.1328 from $1.1324.

  • Associated Categories: Associated Press (AP), AP Business, AP Business - Economy, AP Business - Financial Markets
© Copyright 2019 AccessWDUN.com
All rights reserved. This material may not be published, broadcast, rewritten, or redistributed without permission.
Female acts, rap songs win big at the Grammy Awards
Women return and rap songs triumph at Grammy Awards; Childish Gambino makes history with 'This Is America'
1:56AM ( 16 minutes ago )
Iranians mark anniversary of victory day in 1979 revolution
Crowds of Iranians pour out onto Tehran streets, marking victory day in the country's 1979 Islamic Revolution
1:45AM ( 26 minutes ago )
Grammys fashion include sparkles, sequins and statement hats
Sparkly, studded and way relaxed: Grammys often out-there fashion kicks off in the rain
1:41AM ( 30 minutes ago )
Associated Press (AP)
Negotiations hit snag as shutdown deadline approaches
As the White House refuses to rule out the possibility that the federal government may shut down again, negotiators clash over whether to limit the number of migrants authorities can detain
12:37AM ( 1 hour ago )
Michael Jackson estate: New film violates channel standards
The Michael Jackson estate has sent a letter to the U.K.'s Channel 4 warning that a documentary on men who accuse the singer of molesting them as boys violates the network's programming guidelines
12:24AM ( 1 hour ago )
Malaysian ex-PM Najib combative ahead of 1MDB graft trial
Former Malaysian Prime Minister Najib Razak is hardly lying low ahead of his corruption trial on charges related to the multibillion-dollar looting of the 1MDB state investment fund
10:43PM ( 3 hours ago )
AP Business
Hungary to give women with 4 or more kids life tax exemption
Hungary's anti-immigration prime minister says the government is greatly increasing financial aid and subsidies for families with several children
1:21PM ( 12 hours ago )
Average US price of gas jumps a penny per gallon, to $2.34
The average U.S. price of regular-grade gasoline is up a penny a gallon over the past two weeks, to $2.34
1:19PM ( 12 hours ago )
At Dubai summit, Pakistan premier warns of 'painful' reforms
Pakistan's Prime Minister Imran Khan says his nation needs 'painful' economic reforms to cut back on its massive debt just after meeting IMF chief
10:13AM ( 15 hours ago )
AP Business - Economy
Scandals drive calls for top Virginia leadership to resign
Scandals fraught with questions of race, sex and power driving calls in Virginia for the departure of the state's three top elected leaders
11:27PM ( 2 days ago )
Late burst of buying on Wall Street leaves indexes mixed
U.S. stock indexes stemmed an early slide Friday, finishing mostly higher and nudging the benchmark S&P 500 index to its second weekly gain in a row
4:56PM ( 2 days ago )
S&P 500 set for another down week as January's rally fizzles
U.S. stocks are down in afternoon trading, joining a worldwide move lower as concerns remain high about global trade and the strength of the economy
2:52PM ( 2 days ago )
AP Business - Financial Markets
Female acts, rap songs win big at the Grammy Awards
Women return and rap songs triumph at Grammy Awards; Childish Gambino makes history with 'This Is America'
1:56AM ( 16 minutes ago )
Iranians mark anniversary of victory day in 1979 revolution
Crowds of Iranians pour out onto Tehran streets, marking victory day in the country's 1979 Islamic Revolution
1:45AM ( 26 minutes ago )
Grammys fashion include sparkles, sequins and statement hats
Sparkly, studded and way relaxed: Grammys often out-there fashion kicks off in the rain
1:41AM ( 30 minutes ago )
The Latest: Collaborators: No word from Glover on Grammys
The Latest: Donald Glover's collaborators say even they don't know where he was on night of history-making Grammy wins
1:32AM ( 39 minutes ago )
Top Pentagon official in Afghanistan amid push for peace
The Pentagon's top official has arrived in Afghanistan to meet with U.S. commanders and Afghan leaders amid a push for peace with the Taliban
1:16AM ( 55 minutes ago )