Asian Stocks Advance as Trade Talks to Resume, Dollar Weakens

Asian shares rose, paring a loss for the week, as China and the U.S. prepared for a new round of talks to ease trade tensions. The dollar extended its retreat to a one-week low.

The MSCI Asia Pacific Index climbed 0.5 percent to 161.91 as of 4:07 p.m. in Hong Kong, reducing its weekly drop to 2.2 percent. Japan’s Topix gained 0.6 percent, while South Korea’s Kospi added 0.3 percent. Hong Kong’s Hang Seng China Enterprises Index rose 0.3 percent after the offshore yuan on Thursday jumped the most since January 2017.

Bloomberg

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Asian Stocks Advance as Trade Talks to Resume, Dollar Weakens

Asian shares rose, paring a weekly loss, as China and the U.S. prepared for a new round of talks to ease trade tensions. The dollar extended its retreat to a one-week low.

The MSCI Asia Pacific Index climbed 0.5 percent to 161.84 as of 11:00 a.m. in Hong Kong, reducing its weekly drop to 2.2 percent. Japan’s Topix gained 0.7 percent, while South Korea’s Kospi added 0.3 percent. Hong Kong’s Hang Seng China Enterprises Index rose 0.5 percent after the offshore yuan on Thursday jumped the most since January 2017.

Technology and financial shares were among the region’s best performers. The MSCI Asia Pacific Information Technology Index snapped a five-day losing streak to gain 0.7 percent, boosted by Tencent Holdings Ltd. and Taiwan Semiconductor Manufacturing Co. A financial sub-gauge of the Asian benchmark advanced 0.8 percent.

Source : Bloomberg

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Most Asia Stocks Fall as China Weakens Yuan by Most in Two Years

Most Asian equities fell as China weakened its daily reference rate for the yuan by the most in two years. Chinese shares declined for a sixth day while equities in Japan headed for the biggest loss in more than week.

The MSCI Asia Pacific Index was little changed at 164.74 as of 11:02 a.m. in Hong Kong as about three stocks fell for every two that advanced, with utilities leading gainers and material companies pacing losers. The Hang Seng China Enterprises Index of mainland companies listed in Hong Kong headed for six-day drop, its longest losing streak in three weeks, while Japan’s Topix index retreated for a second day.

The yuan fell as much as 0.7 percent against the dollar in offshore trading after China set the daily reference rate to 6.7671.

Taiwan’s Taiex index +0.9%, South Korea’s Kospi index +0.1%, Kospi 200 +0.1%, Australia’s S&P/ASX 200 Index +0.4%, New Zealand’s S&P/NZX 50 little changed.

Straits Times Index +0.5%, Malaysia’s KLCI -0.4%, Philippine Stock Exchange Index -0.6%, Jakarta Composite -0.3%, Thailand’s SET +0.7%, Vietnam’s VN Index -0.3%.

Source: Bloomberg

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