Asian stocks surged amid U.S.-China trade optimism

Asian stocks surged on Tuesday, on signs that U.S. and China were nearing a truce in their prolonged trade war amid upbeat third-quarter earnings.

The mainland Chinese markets finished today’s session higher. The Shanghai Composite rose by 0.54 percent to settle at 2991.56, supported by gains in Financials, Technology, and Consumer Cyclicals sectors.

Hong Kong’s main index Hang Seng edged higher on today’s session and settled at 27683.40. Gains in Energy, Technology, and Consumer Cyclicals sectors were enough to offset losses in the Healthcare sector.

Also, South Korea's main index (Kospi) rose by 0.81 percent on Tuesday’s session, boosted by the Financials sectors.

In Energy pace, Oil prices steadied as investors awaited the U.S. inventory data due later, following two days of gains on positive economic data and hopes for a U.S.-China trade deal.

 

Japanese Stock Market:

Japanese stocks surged on Tuesday, as the primary index NIKKEI 225 finished the session at 23251.99, helped by gains in most of the sectors, especially the Energy and Telecommunications Services sectors.

In stocks news, Z Holdings Corp was the best performer in today’s trading session, as its share rose by 16.36 percent, while Mitsui E&S Holdings Co Ltd was the worst performer and ended the session 21.62 percent lower.

In the Forex pace, the Japanese Yen fell against the Greenback and traded at 108.832 at 09:00 GMT.

 

Australian Stock Market:

Australia’s S&P/ASX200 index rose on Tuesday’s session and finished the session at 6697.100, supported by improvement in the Energy, Basic Materials, and Healthcare sectors.

In stocks news, Magellan Financial Group Ltd was the best performer of the session as the share advanced by 3.78 percent, while Pilbara Minerals Ltd was the worst performer after its stock dropped by 7.89 percent.

In the Forex market, the Aussie rose against its U.S. counterpart to trade at 0.69117 at 09:00 GMT.

 

 

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