(15 NOVEMBER 2018)DAILY MARKET BRIEF 1:US-China talks boost Asian shares

(15 NOVEMBER 2018)DAILY MARKET BRIEF 1:US-China talks boost Asian shares

15 November 2018, 14:00
Jiming Huang
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High-level trade talks have resumed as US President Donald Trump and Chinese President Xi Jinping had a phone call at the beginning of the month, signalling negotiations in anticipation of their upcoming meeting at the G20 at the end of this month. Chinese, Australian and Korean shares rose while Japanese shares were heading lower. The Nikkei 225 dropped by 0.20%; Hong Kong’s Hang Seng benefitted from Tencent’s Q3 results, closing +1.75% while South Korea’s Kospi index rose 0.97%. US shares dropped for the third time this week, while oil prices modestly recovered following a 12-day downtrend of -17.60% in total. The Aussie remains the strongest currency due to positive job data and a weaker dollar. AUD/USD currently trades at 0.7293 and is approaching the 0.7315 range short-term.

By Vincent Mivelaz


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