Asian shares rise after Wall Street record on trade truce

Published: July 02, 2019 12:41:41 | Updated: July 04, 2019 15:01:57

File Photo (Collected)

Most Asian stock markets rose Tuesday after Wall Street's benchmark hit a new high following the latest truce in the costly US-Chinese trade war.

Tokyo and Sydney rose, while Shanghai was unchanged. Hong Kong advanced despite protests over a proposed extradition law that prompted police to use tear gas to clear streets.

Tokyo's Nikkei 225 rose 0.2 per cent to 21,764.28 and Hong Kong's Hang Seng gained 1.3 per cent to 28,929.19. Sydney's S&P-ASX 200 advanced 0.4 per cent to 6,677.80.

The Shanghai Composite Index was off 2 points at 3,043.11 and Seoul's Kospi shed 0.2 per cent to 2,124.32. India's Sensex was off 0.3 per cent at 39,581.11.

New Zealand and the Philippines advanced, while Taiwan and Singapore declined, reports AP.

On Wall Street, the S&P 500 index rose 0.8 per cent after Trump's agreement to hold off imposing new tariffs on $300 billion of Chinese imports put investors in a buying mood.

The S&P 500 index rose to 2,964.33. The Dow Jones Industrial Average gained 0.4 per cent to 26,717.43. The Nasdaq composite rose 1.1 per cent to 8,091.16.

Benchmark US crude fell 9 cents to $59.00 per barrel in electronic trading on the New York Mercantile Exchange. The contract rose 62 cents on Monday to close at $59.09.

Brent crude, used to price international oils, lost 3 cents to $65.03 per barrel in London. It gained 32 cents the previous session to $65.06.

The dollar declined to 108.41 yen from Monday's 108.44 yen. The euro fell to $1.1278 from $1.1285.

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