- Product & Services
- Trading Platforms
- Tools & services
The pan-European Stoxx 600 rose 0.5% in the opening minutes of trading, basic resources jumping 2% while autos also climbed 1.6%. Utilities stocks dropped 0.4% in early deals.
Trump is set to meet with Xi at the G-20 summit, which is scheduled for June 28-29 in Osaka, Japan. The leaders of 19 nations and the European Union are expected to attend, as trade tensions approach boiling point worldwide.
· Asian stocks gained on Tuesday, led by Chinese shares after Beijing eased financing rules to boost local government spending on public works, and bolstered by investor relief following a U.S. decision to hold off import tariffs on Mexico.
Hopes that U.S. interest rates will be cut as early as next week have also provided broader support.
MSCI’s broadest index of Asia-Pacific shares outside Japan gained 0.8%.
The Shanghai Composite Index climbed 2% after China said on Monday that it would allow local governments to use proceeds from special bonds as capital for major investment projects in a bid to support the slowing economy.
“The lift from the U.S.-Mexico trade development is likely to be a temporary one for the equity markets as the bigger issue between the United States and China remains unresolved,” said Masahiro Ichikawa, senior strategist at Sumitomo Mitsui DS Asset Manage
· Japan’s Nikkei ended higher in choppy trade on Tuesday as cyclical stocks, inclding exporters, gained on the back of a weaker yen, while defensive firms underperformed.
The Nikkei share average rose 0.3% to 21,204.28, after gaining 1.2% on Monday.
On Monday, Japanese stocks recovered above the 21,000 level and hit a two-week high, with buyers encouraged by hopes for a U.S. interest rate cut and relief over U.S. President Donald Trump withdrawal of a tariff threat against Mexico.
Strategists said investors were awaiting more cues on U.S. monetary policy from the Federal Reserve’s June 18-19 policy meeting as well as developments in the U.S.-China trade war ahead of the G20 summit later this month.
· South Korea’s KOSPI stock index jumped on Tuesday, tracking Chinese shares fuelled by a boost in funding support, while U.S. decision to hold off import tariffs on Mexico brought some relief to investors. The Korean won strengthened, while the benchmark bond yields also rose.
· China’s blue chip index rose 3% after China said on Monday that it would allow local governments to use proceeds from special bonds as capital for major investment projects in a bid to support the slowing economy.
Reference: Reuters, CNBC