Asian shares rise on trade optimism ahead of trade talks

Published: June 19, 2019 11:14:54 | Updated: June 22, 2019 10:36:36

File Photo (Collected)

Asian shares were mostly higher Wednesday on optimism about trade after US President Donald Trump said he will talk with the Chinese leader later this month in Japan.

Japan’s benchmark Nikkei 225 added 1.7 per cent to 21,321.17 in early trading. Australia’s S&P/ASX 200 rose 1.0 per cent to 6,637.70. South Korea’s Kospi was also up 1.0 per cent at 2,119.80.

Hong Kong’s Hang Seng gained 2.4 per cent to 28,158.85, while the Shanghai Composite added 1.2 per cent to 2,925.68.

The S&P 500 index climbed 28.08 points or 1.0 per cent to 2,917.75. The Dow gained 353.01 points, or 1.4 per cent, to 26,465.54. The Nasdaq jumped 108.86 points, or 1.4 per cent, to 7,953.88.

The Russell 2000 index of smaller companies added 17.48 points, or 1.1 per cent, to 1,550.23, reports AP.

The benchmark S&P 500 is now less than 1.0 per cent below its all-time high set on April 30. The Dow is 1.4 per cent below its record high set October 3.

The Nasdaq is about 2.5 per cent below its record close set on May 3.

Benchmark crude oil rose 6 cents to $53.96 a barrel. It rose 3.8 per cent to $53.90 a barrel Tuesday. Brent crude oil, the international standard, fell 4 cents to $62.10 a barrel.

The dollar rose to 108.48 yen from 108.27 yen on Tuesday. The euro weakened to $1.1193 from $1.1191.

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