Asian Stocks Rally, Brushing Past U.S.-China Trade War Concerns

Asian stocks rose, as investors brushed past the trade warrhetoric between the Trump administration and China and looked for bargains in equity markets across the region.

The MSCI Asia Pacific Index rose 0.6 percent to 169.73 as of 4:27 p.m. in Hong Kong, as the Hang Seng Index closed 0.8 percent higher. Japan’s Topix index erased its morning decline and gained 0.5 percent as pharmaceutical and food stocks boosted the benchmark.

Taiex +0.2%, Kospi index +1%, Kospi 200 index +0.9%.

S&P/ASX 200 +1.2%, New Zealand’s S&P/NZX 50 +0.5%.

Straits Times Index +0.5%, Malaysia’s KLCI +0.1%, Philippines Stock Exchange Index -0.7%, Jakarta Composite -2.5%; Thailand’s SET Index +0.9%, Vietnam’s VN-Index +2%.

Source: Bloomberg

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HK shares end higher as ZTE surge calms trade war panic

Hong Kong stocks tracked Asian shares to end higher on Wednesday, rebounding after the previous session’s rout, as the surge in ZTE Corp helped sooth immediate panic over a Sino-U.S. trade war.

The Hang Seng index ended 0.8 percent higher at 29,696.17, while the China Enterprises Index closed 0.1 percent higher at 11,505.74 points.

ZTE Corp , the Chinese technology firm caught in the crossfire of Sino-U.S. trade friction, closed 20 percent higher in Hong Kong on Wednesday as the impact of a U.S. Senate bill that threatens to restore penalties on the company became clearer.

The sub-index of the Hang Seng tracking energy shares rose 1.6 percent, while the IT sector gained 0.92 percent, the financial sector ended 0.56 percent higher and property sector closed up 0.62 percent.

The top gainer on Hang Seng was Want Want China Holdings Ltd up 4.08 percent, while the biggest loser was Country Garden Services Holdings Company Ltd, which closed down 9.80 percent.

Source: Reuters

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Dow futures up over 100 points as trade fears calm ebb for now

Stock futures pointed to a firmer start for Wall Street Wednesday, as worries about a U.S.-China trade war appeared to ebb for now, tempting some investors to wade into a market that took a hard hit on those concerns a day earlier.

Investors were also looking ahead to comments by Federal Reserve Chairman Jerome Powell and existing home sales data..

Dow Jones Industrial Average futures rose 113 points, or 0.5%, to 24,828, while S&P 500 futures added 9.05 points, or 0.3%, to 2,775.25. Nasdaq-100 futures rose 23 points, or 0.3%, to 7,275.

Futures were up as some investors were tempted back into the market after Tuesday’s meltdown, triggered by the U.S. threat of tariffs on some $ 450 billion more in Chinese products. The Trump administration dialed up the rhetoric late Tuesday, accusing China of waging a systematic campaign of “economic aggression” in a report released Tuesday.

Source: Marketwatch

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