Asian stocks are mostly higher Monday as investors welcomed signs of progress in resolving the trade dispute between the U.S. and China. The Wall Street Journal reported the countries hope to have a resolution by November.
KEEPING SCORE: Japan's benchmark Nikkei 225 inched down 0.3 percent to finish at 22,199.00. Australia's S&P/ASX 200 added 0.9 percent to 6,345.00. South Korea's Kospi was little changed, edging up less than 0.1 percent to 2,247.42. Hong Kong's Hang Seng gained 1.1 percent to 27,519.90, while the Shanghai Composite rose 0.7 percent to 2,688.46. Indexes were also higher in Taiwan and Singapore.
TRADE TENSIONS: Asian regional markets are generally dependent on harmonious global trade relations. The Wall Street Journal cited officials in both the U.S. and China in its report that said negotiators want to end the trade war before President Donald Trump and Chinese President Xi Jinping meet at multilateral events in November.
People walk past an electronic board showing Hong Kong share index outside a local bank in Hong Kong, Monday, Aug. 20, 2018. Asian stocks are mostly higher Monday as investors welcomed signs of progress in resolving the trade dispute between the U.S. and China. (AP PhotoVincent Yu)
THE QUOTE: "China and U.S. restarting trade talks, no matter how tentative they are, will undoubtedly be a positive development for risk appetite," says Chang Wei Liang at Mizuho Bank in Singapore.
WALL STRRET: The S&P 500 index rose 9.44 points, or 0.3 percent, to end last week at 2,850.13. The Dow Jones Industrial Average added 110.59 points, or 0.4 percent, to 25,669.32. The Nasdaq composite edged up 9.81 points, or 0.1 percent, to 7,816.33. The Russell 2000 index of smaller-company stocks gained 7.19 points, or 0.4 percent, to 1,692.95.
ENERGY: U.S. benchmark crude fell 11 cents to $65.80 a barrel. It picked up 0.7 percent to $65.91 a barrel in New York late last week. Brent crude, the standard for international oil prices, dipped 13 cents to $71.70 per barrel in London.
People walk past an electronic board showing Hong Kong share index outside a local bank in Hong Kong, Monday, Aug. 20, 2018. Asian stocks are mostly higher Monday as investors welcomed signs of progress in resolving the trade dispute between the U.S. and China. (AP PhotoVincent Yu)
CURRENCIES: The dollar rose to 110.58 yen from 110.46 yen late Friday in Asia. The euro rose to $1.1417 from $1.1393.
Follow Yuri Kageyama on Twitter at https://twitter.com/yurikageyama
Her work can be found at https://www.apnews.com/search/yuri%20kageyama