clearn.png
Monday September 16th, 2019 10:56PM

Global shares rise as Trump plans to meet Chinese leader

By The Associated Press
Related Articles
  Contact Editor

TOKYO (AP) — Global shares rose Tuesday as investor jitters over trade eased after President Donald Trump suspended plans to impose tariffs on Mexican imports and said he expects to meet with his Chinese counterpart during a summit in Japan later this month.

The prospect for a possible easing of tensions between the two largest economies buoyed shares in China, where the Shanghai Composite surged 2.6% to 2,925.72 while the smaller Shenzhen A-share index leaped 3.7%.

In Europe, France's CAC 40 advanced 0.8% to 5,423, while Germany's DAX rose 1.2% to 12,191. Britain's FTSE 100 was up 0.4% at 7,404. U.S. shares were set to drift higher with Dow futures and the broader S&P 500 futures up 0.4%.

In an interview with CNBC, Trump said he expects to meet with Chinese President Xi Jinping at the Group of 20 summit in Japan later this month. He also said he was prepared to push ahead with plans to expand tariffs to encompass another $300 billion of Chinese exports to the U.S.

The positive momentum from Monday's rally carried over into Asia and beyond.

Japan's benchmark Nikkei 225 rose 0.3% to finish at 21,204.28. Australia's S&P/ASX 200 added 1.6% to 6,546.30. South Korea's Kospi gained 0.6% to 2,111.81. Hong Kong's Hang Seng stood at 27,789.34, up 0.8%.

On Wall Street, shares continued their winning streak for a fifth day on Monday. That follows the strongest week for stocks since November in a marked turnaround for the market after escalating trade tensions caused prices to skid in May.

Jingyi Pan, market strategist at IG in Singapore, warned against excess optimism about ending the longstanding and increasingly bitter standoff between Beijing and Washington.

"The seemingly complicated matter of a U.S.-China trade deal appears highly unlikely to be resolved from a high-level meeting between the two presidents," Pan said.

"Given the return of the U.S.-China tariffs threat to the table, look to Asia markets to waffle along."

ENERGY: Benchmark U.S. crude rose 38 cents to $53.64 a barrel in electronic trading on the New York Mercantile Exchange. It slid 1.4% to $53.26 a barrel on Monday. Brent crude oil, the international standard, was up 4 cents at $62.33 a barrel.

CURRENCIES: The dollar rose to 108.70 yen from 108.44 yen on Monday. The euro was flat at $1.1310.

  • 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.
Global shares rise as Trump plans to meet Chinese leader
Global shares advance as Trump says he expects to meet with Chinese leader
5:33AM ( 3 minutes ago )
The Latest: Hong Kong police mobilize amid protest calls
Local media reports in Hong Kong say police are mobilizing thousands of additional officers to keep order amid calls for protesters to begin gathering Tuesday night to oppose a highly contentious extradition bill
5:15AM ( 20 minutes ago )
The Latest: Officials visit Danube River tour boat recovery
Hungary's interior minister and a South Korean official have visited the site at Budapest's Margit Bridge, where rescue crews are using a huge floating crane to lift a sunken tour boat out of the Danube River
5:05AM ( 30 minutes ago )
Associated Press (AP)
Asian shares rise as Trump plans to meet Chinese leader
Asian shares are mostly higher as investor jitters over trade eased after U.S. President Donald Trump suspended plans to impose tariffs on Mexican imports and said he expects to meet with the Chinese leader
2:31AM ( 3 hours ago )
Facebook is building a massive solar project in Texas
Facebook is building a massive new solar farm in West Texas that's believed to be one of the largest solar projects in the nation
1:10AM ( 4 hours ago )
Tech on trial: House panel begins review of market power
The House Judiciary Committee is set to launch its probe into the market dominance of Silicon Valley's biggest names, starting with a look at the impact of the giants' platforms on news content.
12:12AM ( 5 hours ago )
AP Business
US stocks climb after US suspends tariffs on Mexican goods
Technology companies and banks helped power stocks higher on Wall Street Monday as investors welcomed news that the U.S. and Mexico averted a trade war and potentially damaging tariffs
5:05PM ( 12 hours ago )
Stern words from Iran: US cannot 'expect to stay safe'
Iran's foreign minister warns US it 'cannot expect to stay safe' after launching 'economic war' against Tehran
5:03PM ( 12 hours ago )
Trump insists there's more to Mexico deal than meets the eye
President Donald Trump is insisting there's more to the deal than meets the eye after being stung by criticism that his deal with Mexico to avert tariffs mostly ramps up existing efforts
4:25PM ( 13 hours ago )
AP Business - Economy
World shares rise after US drops planned tariffs on Mexico
Global markets are rising after U.S. President Donald Trump suspended plans to impose tariffs on Mexico as the countries inked a deal on immigration
6:26AM ( 23 hours ago )
Asian stocks rise as Chinese trade data beats expectations
Asian financial markets are advancing after China released better-than-expected trade data for May, though worries remain over trade negotiations between the Washington and Beijing
2:51AM ( 1 day ago )
Dirty dozen: Nadal wins 12th French Open for 18th Slam title
Rafael Nadal pulled away in what had suddenly become a tight final to beat Dominic Thiem 6-3, 5-7, 6-1, 6-1 for his record-extending 12th French Open championship
3:58PM ( 1 day ago )
AP Business - Financial Markets
The Latest: Hong Kong police mobilize amid protest calls
Local media reports in Hong Kong say police are mobilizing thousands of additional officers to keep order amid calls for protesters to begin gathering Tuesday night to oppose a highly contentious extradition bill
5:15AM ( 20 minutes ago )
The Latest: Officials visit Danube River tour boat recovery
Hungary's interior minister and a South Korean official have visited the site at Budapest's Margit Bridge, where rescue crews are using a huge floating crane to lift a sunken tour boat out of the Danube River
5:05AM ( 30 minutes ago )
House resolution would make it easier to enforce subpoenas
A resolution being voted on in the House would make it easier for Democrats to sue President Donald Trump's administration and other potential witnesses who refuse to comply with subpoenas
4:54AM ( 41 minutes ago )
Human rights group locates North Korean execution sites
A human rights group says it has identified hundreds of spots where witnesses claim North Korea carried out public executions and extrajudicial state killings as part of an arbitrary and aggressive use of the death penalty to intimidate its citizens
4:49AM ( 46 minutes ago )
Iran revokes New York Times correspondent's accreditation
The New York Times says Iran has revoked the press accreditation of its Tehran-based correspondent without explanation
4:39AM ( 56 minutes ago )