Asian shares rise as trade tensions ease

Published: May 21, 2018 11:57:44 | Updated: May 23, 2018 12:09:16

File Photo (AP)

Asian shares rose on Monday as investors cheered the outcome of negotiations between the United States and China that put a trade war on hold, clearing uncertainty.

Japan's Nikkei 225 climbed 0.5 per cent to 23,042.54. Hong Kong's Hang Seng jumped 1.2 per cent to 31,423.99, while Shanghai Composite Index advanced 0.8 per cent to 3,217.93.

South Korea's Kospi added 0.3 per cent to 2,467.36. Australia's S&P/ASX 200 inched down 0.1 per cent to 6,081.10. Stocks in Southeast Asia were mostly higher, reports AP.

US stocks finished mixed on Friday. The S&P 500 index fell 0.3 per cent to 2,712.97. The Dow Jones industrial average gained 1.11 points to 24,715.09.

The Nasdaq composite lost 0.4 per cent to 7,354.34. The Russell 2000 index of smaller-company stocks rose 0.1 per cent to 1,626.63.

Benchmark US crude oil rose 55 cents to $71.83 per barrel in electronic trading on the New York Mercantile Exchange. In the previous session, the contract finished at $71.28 a barrel, down 21 cents.

Brent crude, used to price international oil, gained 50 cents to $79.01 per barrel in London. It finished at $78.51 per barrel in the previous session, down 79 cents.

The dollar rose to 111.11 yen from 110.78 yen while the euro weakened to $1.175 from $1.177.

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