rain.png
Tuesday July 23rd, 2019 9:33AM

Asian stocks rise on possible US-China talks amid tensions

By The Associated Press
Related Articles
  Contact Editor

SINGAPORE (AP) — Asian markets were mostly higher Thursday after a report that the U.S. proposed a new round of trade negotiations with China quelled fears that a dispute between the world's two largest economies was spiraling out of control.

KEEPING SCORE: Japan's benchmark Nikkei 225 added 0.9 percent to 22,814.88, and the Kospi in South Korea rose 0.2 percent to 2,288.00. Hong Kong's Hang Seng index jumped 1.6 percent to 26,760.54. The Shanghai Composite index gained 0.7 percent to 2,674.38. Australia's S&P/ASX 200 shed 0.8 percent to 6,126.70. Stocks were higher in Taiwan and most of Southeast Asia.

WALL STREET: U.S. stocks were mixed on Wednesday as technology companies fell, cancelling out gains in the energy sector. The S&P 500 index was less than 0.1 higher at 2,888.92. The Dow Jones Industrial Average gained 0.1 percent to 25,998.92. The losses for technology companies weighed on the Nasdaq composite, which slid 0.2 percent to 7,954.23. The Russell 2000 index of smaller-company stocks lost 0.2 percent to 1,715.70.

US-CHINA RELATIONS: According to the Wall Street Journal, U.S. officials recently proposed a new round of trade negotiations with China. That would give the Chinese government another chance to address U.S. concerns before the Trump administration imposes bigger tariffs on goods imported from China, the report said. The two countries have already placed new taxes on $50 billion in imports, and the U.S. is threatening higher tariffs on $200 billion in goods and possibly more. China has vowed to retaliate and has put off accepting license applications from American companies hoping to operate in the country. It has also requested to be allowed to impose sanctions against the United States for failing to abide by a World Trade Organization ruling on anti-dumping measures. The case centers on U.S. trade limits on Chinese products that the U.S. says are sold below market value.

ANALYST'S TAKE: "The shifting of the balance of trade negotiations away from the U.S. and towards the rest of the world and particularly China is starting to pull up markets," Michael McCarthy, chief market strategist at CMC Markets in Sydney, said in an interview.

NEW iPHONE: Apple unveiled new iPhones with larger screens on Wednesday. The company also said new Apple Watches will have larger screens and new health-monitoring features. Its stocks, which tend to trade lower on the days it announces new products, fell 1.2 percent to $221.07 on Wednesday. Apple is up 31 percent in 2018.

ENERGY: Oil prices eased after extending gains on the Energy Information Administration's announcement that U.S. crude stockpiles fell by more than 5 million barrels last week. Benchmark U.S. crude, which had reached its highest price in two months on Wednesday, dropped 46 cents to $69.91 a barrel. The contract climbed 1.6 percent to settle at $70.37 a barrel in New York. Brent crude, used to price international oils, shed 41 cents to $79.33 a barrel. It added 0.9 percent to $79.74 a barrel in London.

CURRENCIES: The dollar strengthened to 111.42 yen from 111.22 yen. The euro fell to $1.1624 from $1.1632.

  • Associated Categories: Associated Press (AP), AP Business, AP Business - Corporate News, AP Business - Economy, AP Business - Financial Markets, AP Business - Industries, AP Business - Utilities
© Copyright 2019 AccessWDUN.com
All rights reserved. This material may not be published, broadcast, rewritten, or redistributed without permission.
Asian stocks rise on possible US-China talks amid tensions
Asian markets are mostly higher as a report that the U.S. had proposed a new round of trade negotiations with China boosted sentiment
11:23PM ( 32 minutes ago )
Storm's uncertain track sows fear; 10 million in crosshairs
Hurricane Florence is putting a corridor of more than 10 million people in the crosshairs as it closes in on the Carolinas, uncertainty over its projected path spreading worry across a wider swath of the Southeast
11:23PM ( 33 minutes ago )
Rinse, repeat: Rhode Island governor fight will mirror 2014
Rhode Island's Democratic governor won her party's nomination for a second term in Wednesday's primary, overcoming a spirited but poorly funded challenge, while the mayor of the state's second-largest city earned the GOP nomination
11:22PM ( 34 minutes ago )
Associated Press (AP)
'60 Minutes' chief Jeff Fager fired over policy violation
Jeff Fager, top executive at CBS' '60 Minutes,' is out. He's been under investigation after being accused of groping women at parties and tolerating an abusive workplace.
10:31PM ( 1 hour ago )
Video shows Weinstein's hands-on encounter with rape accuser
A video of Harvey Weinstein shows him propositioning, touching a woman who later accused him of rape
10:10PM ( 1 hour ago )
US Open winner Osaka signs deal with Japanese car maker
Naomi Osaka has been announced as the "brand ambassador" for a major Japanese car maker
10:03PM ( 1 hour ago )
AP Business
Eldorado gets temporary OK to own Tropicana casino
Eldorado Resorts has been given temporary approval to own Atlantic City's Tropicana casino, part of a $1.85 billion acquisition of Tropicana Entertainment
6:59PM ( 4 hours ago )
Closed ports, lost power: How storm could hurt area economy
Closed businesses, drowned livestock, washed-away cars: Hurricane's likely economic impact
5:55PM ( 6 hours ago )
'60 Minutes' chief Fager out at CBS
Jeff Fager, top executive at CBS' '60 Minutes,' is out. He's been under investigation after being accused of groping women at parties and tolerating an abusive workplace.
5:44PM ( 6 hours ago )
AP Business - Corporate News
Small private US college slashes tuition by $17K annually
A private liberal arts college with campuses in New Mexico and Maryland announced Wednesday a $17,000 reduction in its annual tuition and acknowledged that steady price increases in had inadvertently driven away students.
4:41PM ( 7 hours ago )
Japan opposition leader says its PM is too close to Trump
Japan's main opposition leader says the nation's prime minister is papering over differences on trade and other issues with President Donald Trump, and that could ultimately hurt the U.S.-Japan alliance
4:20PM ( 7 hours ago )
Japan opposition leader says its PM too close to Trump
Japan's main opposition leader says the nation's prime minister is papering over differences on trade and other issues with President Donald Trump, and that could ultimately hurt the U.S.-Japan alliance
4:10PM ( 7 hours ago )
AP Business - Economy
Da Silva's candidate vows to be his own man in Brazil
In his first full day as the presidential candidate for Brazil's Workers' Party, Fernando Haddad pledged to be his own man if elected and not bow to financial markets or the interests of other countries, including the United States
8:21PM ( 3 hours ago )
Markets Right Now: Stocks mixed, energy gains ahead of storm
Stocks mixed at open, energy stocks gains as Hurricane Florence heads for the U.S. East Coast.
9:44AM ( 14 hours ago )
Stocks mixed on US-China dispute; oil pushed up by hurricane
World markets are mixed as investors focus on trade tensions, with China delaying licenses to American businesses ahead of expected tariffs from Washington.
6:41AM ( 17 hours ago )
AP Business - Financial Markets
US 'likely' has taken over as the world's top oil producer
US energy agency says the United States has likely passed Russia and Saudi Arabia to become the world's biggest oil producer
8:41PM ( 3 hours ago )
Strongest typhoon this year closes in on north Philippines
The most powerful typhoon of the season is closing in on the northern Philippines, where officials ordered precautionary evacuations and closures of schools and offices and urged farmers to quickly harvest their crops to reduce damage
8:37PM ( 3 hours ago )
The Latest: Some South Carolina lane reversals to end
South Carolina is planning to end the reversal of some interstate lanes that were switched to help move people away from the state's coast as Hurricane Florence approaches
7:11PM ( 4 hours ago )
AP Business - Industries
The Latest: Pence to thank Red Cross staff, volunteers
Vice President Mike Pence plans to thank American Red Cross employees and volunteers in Atlanta as they prepare for Hurricane Florence
2:16PM ( 9 hours ago )
The Latest: Stations running out of gas amid evacuations
Motorists trying to get away from the path of Hurricane Florence are learning that some service stations are running out of gasoline
2:01PM ( 9 hours ago )
Florence could flood hog manure pits, coal ash dumps
Florence could flood manure pits, coal ash dumps and other industrial sites, creating toxic brew
1:19PM ( 10 hours ago )
AP Business - Utilities
Storm's uncertain track sows fear; 10 million in crosshairs
Hurricane Florence is putting a corridor of more than 10 million people in the crosshairs as it closes in on the Carolinas, uncertainty over its projected path spreading worry across a wider swath of the Southeast
11:23PM ( 33 minutes ago )
Rinse, repeat: Rhode Island governor fight will mirror 2014
Rhode Island's Democratic governor won her party's nomination for a second term in Wednesday's primary, overcoming a spirited but poorly funded challenge, while the mayor of the state's second-largest city earned the GOP nomination
11:22PM ( 34 minutes ago )
Athletics use 10-run 3rd inning to beat Orioles 10-0
Matt Olson homered during a 10-run third inning in which the first 11 batters reached base, and the Oakland Athletics beat the Baltimore Orioles 10-0 for their sixth straight victory
11:17PM ( 39 minutes ago )
Humboldt Broncos return to ice 5 months after bus crash
Brayden Camrud and Derek Patter were back on the ice for the Humboldt Broncos in the junior hockey team's first game since 10 teammates and six other people were killed in a bus crash
11:16PM ( 40 minutes ago )
Jacobs keeps guests waiting, then delivers on the glamour
Marc Jacobs kept his guests waiting for 90 minutes _ an unlikely development given his tendency in recent years to start right on the dot
11:15PM ( 41 minutes ago )