· Asian shares staged a cautious rally on Monday as investors dared to hope for some progress in the endless Sino-U.S. trade dispute, while the outperformance of recent U.S. economic data gave the dollar a leg up on its peers.
MSCI’s broadest index of Asia-Pacific shares outside Japan bounced 0.7%, after losing 0.4% last week.
On Saturday, U.S. national security adviser Robert O’Brien said an initial trade agreement with China is still possible by the end of the year, though he warned Washington would not turn a blind eye to what happens in Hong Kong.
The comments add to worries that a Chinese crackdown on anti-government protests in Hong Kong could further complicate the talks.
· Japanese stocks rose by the most in two weeks on Monday as investors turned more confident the United States and China could reach an agreement to de-escalate their trade war.
The Nikkei index ended Monday up 0.78% at 23,292.81 points, the biggest increase since Nov. 12, as exporters in the IT sector and the industrial equipment sector led the advance, because they benefit from an increase in overseas demand.
· China stocks started the week higher on Monday, underpinned by fresh hopes for progress in Sino-U.S. trade talks following positive comments from both sides.
The blue-chip CSI300 index rose 0.7%, to 3,878.21, while the Shanghai Composite Index also closed up 0.7% at 2,906.17.
· Britain’s two main political parties have both launched their manifestos in separate bids to win over the public ahead of a crucial Dec. 12 election.
France’s LVMH has reached a deal to buy U.S. luxury jeweler Tiffany & Co. for $16.3 billion, sources familiar with the matter told CNBC’s David Faber.
The pan-European Stoxx 600 jumped 0.6% after the opening bell, with basic resources adding 1.7% to lead gains as all sectors and major bourses entered positive territory.
Reference: Reuters, CNBC
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