BEIJING – Shares in Shanghai, Hong Kong and Tokyo advanced on Friday after investors saw signs of possible progress toward solving the US-China tariff war.
KEEP THE SCORE: The Shanghai Composite Index rose 0.7 percent to 2,578.73 and the Hang Seng of Hong Kong gained 1.1 percent to 27,039.00. The Tokyo Nikkei 225 added 1.3 percent to 20,622.24 and the Kospi of Seoul advanced 0.5 percent to 2,118.29. Sydney's S & P-ASX 200 rose 0.5 percent to 5,881.00 and benchmarks in Taiwan, New Zealand and Southeast Asia also rose.
CHINA-EE. US: China announced that its economic czar, Deputy Prime Minister Liu He, will go to Washington for talks from January 30 to 31 with the aim of ending the tariff war caused by US complaints about technological ambitions of Beijing. Business groups and economists were looking for Liu and his US counterpart, US Trade Representative Robert Lighthizer, to participate in the talks as a sign that the low-level negotiations held earlier in Beijing had moved forward. The Wall Street Journal reported that Treasury Secretary Steven Mnuchin was willing to reduce tariff increases on Chinese products, although he said that Lighthizer and other officials opposed it.
WALL STREET: Stocks rose due to commercial optimism after the report Mnuchin could support a cut in US tariffs on Chinese imports. The technological, industrial and health companies won and the manufacturers of chemical products and other basic materials jumped. The Standard & Poor & # 39; s 500 index rose 0.8 percent to 2,635.96. The Dow Jones Industrial Average added 0.7 percent to 24,370.10. The Nasdaq compound gained 0.7 percent to 7,084.46.
ANALYST'S COMMENT: Asian markets welcome "the latest indication of increased US interest in resolving the trade uncertainties of the United States and China," IG's Jingyi Pan said in a report. "While skepticism may persist and concerns rise before China's growth figures next week, the driving force for intraday market action belongs to trade."
INFLATION IN JAPAN: Inflation in December was weaker than expected, which temporarily placed the central bank further away from its 2 percent target. Prices rose 0.3 percent, down from 0.8 percent in November, as downward food costs offset an increase in energy prices.
ENERGY: The US benchmark UU It is calculated between 54 cents and $ 52.61 per barrel in electronic transactions on the New York Mercantile Exchange. The contract fell 24 cents on Thursday to close at $ 52.07. Brent crude, used to quote international oils, added 47 cents to $ 61.65 per barrel in London. He lost 14 cents the previous session at $ 61.18.
CURRENCY: The dollar advanced to 109.33 yen from Thursday at 109.24 yen. The euro gained $ 1,193 from $ 1,138.