Asian shares mixed after China-US trade talks show progress


BANGKOK (AP) — Stock markets were subdued Monday after trade talks between China and the U.S. wrapped up with officials claiming progress. The price of oil kept rose to its highest level this year on the back of improved U.S. economic data.

Britain’s FTSE 100 rose 0.1% to 7,451, while the DAX in Germany declined 0.3% to 11,968. The CAC 40 in France edged up 0.1% to 5,480. Wall Street looked set for a soft open, with the future contract for the Dow down 0.3% at 26,317 while that for the S&P 500 edged 0.1% lower to 2,892.

It was the start to yet another week of uncertainty over Britain’s planned split from the European Union.

Cross-party talks to jumpstart plans for the so-called Brexit were due to resume before Friday’s deadline for leaving the EU. The opposition Labour Party is hopeful the country’s political impasse can be resolved, its business minister Rebecca Long-Bailey said.

In Asia, Japan’s benchmark Nikkei 225 index slipped 0.2% to 21,761.65 and the Shanghai Composite index clawed back losses to edge 0.1% lower, ending at 3,244.81. South Korea’s Kospi was nearly unchanged at 2,210.60, while Hong Kong’s Hang Seng index added 0.4% to 30,049.94. India’s Sensex shed 0.3% to 38,754.38.

'I Don't Know if I'm Supposed to Say This': Trump Reveals Phone Call Where He Made Unexpected Request of Hannity

China’s official news agency said Sunday that trade talks with the U.S. in Washington last week “achieved new progress.” It said remaining issues will be handled through “various effective means” but did not elaborate on where or when further discussions will happen. It said three-day talks that ended Friday dealt with issues including technology transfer, intellectual property rights protection, non-tariff measures, agriculture and enforcement.

Beijing and Washington are working to end a standoff over Beijing’s industrial and technology policies that has shaken financial markets and darkened the world economic outlook.

White House press secretary Sarah Sanders said in a statement Friday that “significant work remains” and the two sides would be in continuous contact.

The talks come against the backdrop of a slowing global economy, though Wall Street last week logged its longest winning streak in a year and a half. A strong rebound in hiring eased worries that the U.S. economy is slowing too sharply, helping to keep traders in a buying mood.

Investors will next look to company earnings reports, which start to be published in the U.S. next week.

ENERGY: Strong U.S. jobs data boosted expectations for oil demand, pushing benchmarks to their highest level this year. U.S. crude oil picked up 35 cents to $63.43 per barrel in electronic trading on the New York Mercantile Exchange. It gained 1.6% to settle at $63.08 a barrel on Friday. Brent crude, the international standard, added 39 cents to $70.73 per barrel. It added 1.4% to close at $70.34 on Friday.

CURRENCIES: The dollar weakened to 111.47 Japanese yen from 111.73 yen while the euro rose to $1.1242 from $1.1217. The British pound advanced to $1.3054 from $1.3041 on Friday.

The Western Journal has not reviewed this Associated Press story prior to publication. Therefore, it may contain editorial bias or may in some other way not meet our normal editorial standards. It is provided to our readers as a service from The Western Journal.

Truth and Accuracy

Submit a Correction →

We are committed to truth and accuracy in all of our journalism. Read our editorial standards.

The Associated Press is an independent, not-for-profit news cooperative headquartered in New York City. Their teams in over 100 countries tell the world’s stories, from breaking news to investigative reporting. They provide content and services to help engage audiences worldwide, working with companies of all types, from broadcasters to brands. Photo credit: @AP on Twitter
The Associated Press was the first private sector organization in the U.S. to operate on a national scale. Over the past 170 years, they have been first to inform the world of many of history's most important moments, from the assassination of Abraham Lincoln and the bombing of Pearl Harbor to the fall of the Shah of Iran and the death of Pope John Paul.

Today, they operate in 263 locations in more than 100 countries relaying breaking news, covering war and conflict and producing enterprise reports that tell the world's stories.
New York City