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5 years ago

Asian shares rise as investors watch US-China trade talks

File photo (AP)
File photo (AP)

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Asian shares advanced on Monday as investors awaited signs the US and China could be making progress in negotiations on resolving the trade war between the two biggest economies.

Japan's benchmark Nikkei 225 added 0.7 per cent in morning trading to 21,591.90. Australia's S&P/ASX 200 rose 0.1 per cent to 6,181.20. South Korea's Kospi was flat at 2,174.61.

Hong Kong's Hang Seng gained nearly 0.4 per cent to 29,119.08, while the Shanghai Composite rose 0.6 per cent to 3,038.93, reports AP.

Wall Street ended last week on an upbeat note, with the S&P 500 gaining 0.5 per cent Friday to 2,822.48, a new high for the year. The Dow Jones Industrial Average rose 0.5 per cent to 25,848.87.

The Nasdaq composite climbed 0.8 per cent, to 7,688.53. The S&P 500's gain was 0.5 per cent. The Russell 2000 index of smaller companies picked up 3.90 points, or 0.3 per cent, to 1,553.54.

US stocks have had a strong showing this year, with all the major indexes gaining at least 10 per cent.

The dollar rose to 111.56 Japanese yen from 111.48 yen on Friday. The euro strengthened to $1.1335 from $1.1326.

The price of US crude oil slipped 21 cents to $58. 31 a barrel. It slipped 0.2 per cent to settle last week at $58.52 a barrel. Brent crude dropped 16 cents to $67.00 a barrel.

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