US stocks gained on hopes that top-level US-China trade talks would yield at least a partial deal, while a rise in Apple's shares lifted the technology sector.
Friday, 11th October, 2019
China's stocks climbed to a two-week high as investors hoped for a partial trade deal between Washington and Beijing, but a report stating Chinese officials are looking to cut short their visit to the US capped gains. The Shanghai Composite index closed up 0.8 percent at 2,947.71 points, its highest level since September 26. The blue-chip CSI300 index also gained 0.8 percent. Trade optimism led to gains in both Hong Kong and mainland markets. The Hang Sang eked out teensy gains, closing up 0.1 percent at 25,707.93, largely over the trade talks that begin in Washington tonight. Around the region, MSCI's Asia ex-Japan stock index was flat, while Japan's Nikkei index was up 0.2 per cent.
European shares rose as signs of progress in US-China trade talks and hopes of a Brexit deal helped investors look past weak economic data and negative corporate updates. The pan-regional STOXX 600 index closed up 0.7 percent. Louis Vuitton owner LVMH's 5.6 percent jump on strong sales was the biggest boost to the index and lifted stocks across the luxury goods sector. London's FTSE 100 climbed 0.3 percent, despite a rallying pound, after the UK and Irish Prime Ministers said they saw a pathway to a possible Brexit deal after a last-ditch meeting aimed at finding a way for the UK to leave the European Union in an orderly way.
US stocks have gained on hopes that top-level US-China trade talks would yield at least a partial deal, while a rise in Apple's shares lifted the technology sector. The Dow Jones Industrial Average finished up 151 points, or 0.57 percent, at 26,497, the S&P 500 was up 19 points, or 0.64 percent, at 2938 and the Nasdaq Composite closed up 47 points, or 0.60 percent, at 7951.
Ahead of the local open SPI futures are 42 points higher at 6571.
|Foreign Equities||Close||Change||% Change|
|Dow Jones (US)||
|FTSE 100 Index||7186||20||0.28|
|Nikkei 225 (Japan)||21552||96||0.45|
|Oil - West Texas Crude||/t 3mth||53.5||1.0||1.83|
|Currency||Close||Pts Change||% Change|
|$A vs $US||0.6761||0.0047||0.70|
|$A vs GBP||0.5435||-0.0061||-1.11|
|$A vs EUR||0.6142||0.0029||0.47|
|$A vs YEN||72.93||
|$A vs NZD||1.0694||0.0026||0.24|