• MTS Futures News_AM_20191108

    8 Nov 2019 | SET News

· The Dow and S&P 500 notched record closing highs on Thursday as the latest signs of progress in U.S.-China trade relations relieved investors, but a report raising fresh worries about the outlook for a deal limited the day’s gains.

The Dow Jones Industrial Average .DJI rose 182.24 points, or 0.66%, to 27,674.8, the S&P 500 .SPX gained 8.4 points, or 0.27%, to 3,085.18 and the Nasdaq Composite .IXIC added 23.89 points, or 0.28%, to 8,434.52.

China said it had agreed with the United States to remove tariffs in phases, while state-owned Xinhua News Agency said Beijing was also considering removing restrictions on poultry imports.

But indexes pared gains in afternoon trading after a Reuters report, citing sources, said that the White House’s plan to roll back China tariffs faces internal opposition and that no final decision has been made yet.

An interim U.S.-China trade deal is expected to include a U.S. pledge to scrap tariffs scheduled for Dec. 15.

· European shares traded higher Thursday, having touched a four-year high early in the session after China said the world’s two largest economies had agreed to cancel additional tariffs imposed in their months-long trade war.

The pan-European Stoxx 600 closed provisionally up 0.29%, slightly paring earlier gains which saw the European blue-chip index hit its highest point since July 2015. Auto stocks jumped 1.7% to lead gains while utilities slid 1.9%.

· Shares in Asia traded higher Friday morning after the Dow Jones Industrial Average closed overnight at a record high amid renewed optimism on the U.S.-China trade front.

In Japan, the Nikkei 225 gained 0.95% in early trade as shares of index heavyweight and conglomerate Softbank Group jumped 3.79%. The Topix index also gained 0.8%.

South Korea’s Kospi advanced 0.43% as shares of steelmaker Posco surged more than 2%. Meanwhile, shares in Australia edged higher, with the S&P/ASX 200 gaining 0.15%.

Overall, the MSCI Asia ex-Japan index traded 0.25% higher.


Reference: Reuters, CNBC

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