Asian stocks mostly higher after Trump tariff extension
Asian stocks led Asia higher on Monday after U.S. President Donald Trump confirmed he would delay a planned hike in tariffs on Chinese imports as talks between the two sides made “substantial progress”.
- MSCI’s broadest index of Asia-Pacific shares outside Japan added 0.3 percent to the highest since October, and is up 10 percent for the year so far.
- Chinese blue chips jumped 3.5 percent to territory last trod in mid-June.
- Seoul’s Kospi lost 0.3 percent.
- Shares in Taiwan were also 0.3 percent lower.
- Japan’s Nikkei climbed 0.5 percent.
- E-Mini futures for the S&P 500 edged up 0.2 percent.
In currencies, the trade news had already been largely priced in.
- The dollar was holding steady at 96.473.
- The euro was flat at $1.1340.
- the dollar declined to 110.66 yen.
- Sterling was idling at $1.3065
Prime Minister Theresa May put off a vote on her Brexit deal until as late as March 12 – just 17 days before Britain is due to leave the EU – setting up a showdown this week with lawmakers who accuse her of running out the clock.
Oil prices were near their highest since mid-November, despite record output from the United States.
- Spot gold edged up a touch to $1,331.00 per ounce.
- U.S. crude was last down 21 cents at $57.05 a barrel.
- Brent crude futures lost 31 cents to $66.81.