Asia tries to see light in trade talks, Brexit votes

By Wayne Cole SYDNEY (Reuters) - Asian share markets edged ahead on Tuesday amid cheery chatter about the chance of a Sino-U.S.

Reuters October 22, 2019 07:06:12 IST
Asia tries to see light in trade talks, Brexit votes

Asia tries to see light in trade talks Brexit votes

By Wayne Cole

SYDNEY (Reuters) - Asian share markets edged ahead on Tuesday amid cheery chatter about the chance of a Sino-U.S. trade deal, while investors were sanguine yet another vote on Brexit would still avert a hard exit.

A holiday in Tokyo kept turnover light and MSCI's broadest index of Asia-Pacific shares outside Japan <.MIAPJ0000PUS> added a slight 0.13%.

Futures for Japan's Nikkei were trading flat at 22,700, compared to Monday's index close at 22,548 <.N225>. South Korean stocks <.KS11> rose 0.4%, while E-Mini futures for the S&P 500 were little changed.

U.S. President Donald Trump sounded upbeat on a China deal on Monday, while White House adviser Larry Kudlow said tariffs on Chinese goods scheduled for December could be withdrawn if talks go well.

Trade-sensitive technology stocks <.SPLRCT> rose 1.1%, pulling the S&P 500 <.SPX> up 0.69% and near to a record closing high. The Dow <.DJI> gained 0.21%, while the Nasdaq <.IXIC> rose 0.91%. [.N]

The better mood saw safe-haven bonds extend their recent pullback, with 10-year Treasury yields at a five-week peak of 1.80%. [US/]

In foreign exchange markets, the dollar found support against the yen at 108.60 while staying steady on a basket of currencies to 97.307 <.DXY>.

The euro paused after its recent run higher and was last trading quietly at $1.1151 .

Sterling held firm at $1.2972 after Prime Minister Boris Johnson failed to get a vote on his Brexit deal and will try again on Tuesday to get the first stage of a withdrawal bill through Parliament.

"If the House of Commons vote in favour of the deal, GBP/USD could rally towards $1.3500 over the medium term.  The UK would then enter a transition period that lasts until 31 December 2020," said Kim Mundy, a currency strategist at CBA.

"If the Commons rejects the deal, GBP/USD will likely stabilise around $1.2800, because the risk of a hard Brexit will remain low," he added. "Early UK general elections would be the next most logical way forward."

In commodity markets, spot gold was idling at $1,483.70 per ounce .

Oil prices were near flat as the market fretted about the health of the global economy and the future for energy demand. [O/R]

Brent crude futures inched up 7 cents to $59.03, while U.S. crude added 9 cents to $53.40 a barrel.

(Editing by Sam Holmes)

This story has not been edited by Firstpost staff and is generated by auto-feed.

Updated Date:

TAGS:

Find latest and upcoming tech gadgets online on Tech2 Gadgets. Get technology news, gadgets reviews & ratings. Popular gadgets including laptop, tablet and mobile specifications, features, prices, comparison.

also read

Turkey's daily COVID-19 deaths hit a record high of 141 - ministry
World

Turkey's daily COVID-19 deaths hit a record high of 141 - ministry

ANKARA (Reuters) - Turkey's daily death toll from the coronavirus hit a record high of 141 on Friday, according to data from the Health Ministry, as the country braced for nationwide measures amid a surge in cases in recent weeks. The data showed 5,103 new COVID-19 patients were recorded in the country, while the overall death toll rose to 12,084. Since July, Ankara has only reported symptomatic COVID-19 patients, a move critics say hides the true scale of the outbreak.

Gunman releases all hostages in Georgian capital Tbilisi - police
World

Gunman releases all hostages in Georgian capital Tbilisi - police

TBILISI (Reuters) - A gunman has released unharmed all nine hostages he had taken at a microfinance organisation in the Georgian capital Tbilisi on Friday, police said. According to preliminary information, the gunman was not demanding a ransom but had some social demands, including lower prices for medicines

With applause and flowers, thousands attend funeral of Belarusian protester
World

With applause and flowers, thousands attend funeral of Belarusian protester

By Matthias Williams KYIV (Reuters) - Thousands of people silently raised their arms in the air, held flowers aloft and broke into chants outside a church in Minsk on Friday at the funeral of a Belarusian protester. The death of 31-year-old Roman Bondarenko has become a flashpoint in months-long mass protests against President Alexander Lukashenko. Witnesses said Bondarenko was detained after a scuffle with people in plain clothes who came to a playground to remove red-and-white ribbons representing the protest movement