KSEE24 RESCAN /
KSEE24 has officially switched frequencies. You must rescan your TV if you use an antenna. Call 559-222-2411 Option 3 for more info.

Asian shares mostly higher amid renewed trade deal hopes

Business
Daniel Trimble, Timothy Nick

FILE – In this Oct. 2, 2019, file photo traders Daniel Trimble, left, and Timothy Nick work on the floor of the New York Stock Exchange. The U.S. stock market opens at 9:30 a.m. EDT on Wednesday, Oct. 9. (AP Photo/Richard Drew, File)

This is an archived article and the information in the article may be outdated. Please look at the time stamp on the story to see when it was last updated.

TOKYO (AP) — Asian shares were mixed Thursday following broad gains on Wall Street as investors pondered mixed reports on the likelihood of progress in resolving the trade war between the U.S. and China.

Japan’s benchmark Nikkei 225 added 0.3% to 21,509.54 in early trading. Australia’s S&P/ASX 200 lost nearly 0.1% to 6,543.40, while South Korea’s Kospi lost 0.8% to 2,029.23. India’s Sensex skidded 0.4% to 38,050.81.

Hong Kong’s Hang Seng picked up 0.2% to 25,726.60. The Shanghai Composite rose 0.2% to 2,930.35. Shares fell in Singapore and Thailand bur rose in Jakarta.

“Updates on U.S.-China trade keep their grip on markets as we await the commencement of trade talks going into Thursday,” says Jingyi Pan, market strategist at IG in Singapore.

A day after escalating trade tensions led to a sharp sell-off, investors drew encouragement from reports that Beijing signaled it is open to a partial deal. Washington and Beijing are scheduled to begin a 13th round of trade negotiations on Thursday.

But a report by the Hong Kong newspaper South China Morning Post saying that preliminary talks for the meetings did not go well doused some of that enthusiasm.

The S&P 500 rose 0.9% to 2,919.40. The Dow Jones Industrial Average gained 0.7% to 26,346.01. The Nasdaq picked up 1% to 7,903.74 and the Russell 2000 index of smaller company stocks added 0.5%, to 1,479.46.

Washington and Beijing had held off from further escalating the conflict up until this week, when the U.S. blacklisted a group of Chinese technology companies over alleged human rights violations.

The trade war between the U.S. and China has dragged on for 15 months, inflicting economic damage on both countries. The two sides have raised import duties on billions of dollars of each other’s goods, fueling fears their dispute might tip the global economy into recession.

All told, the Trump administration has imposed tariffs on more than $360 billion worth of Chinese goods and plans to tax an additional $160 billion of imports on Dec. 15. This would extend U.S. tariffs to just about everything China ships to the United States. China has counterpunched by taxing $120 billion in U.S. exports, notably soybeans and other farm goods.

ENERGY: Benchmark crude oil fell 11 cents to $52.48 a barrel in electronic trading on the New York Mercantile Exchange. It fell 4 cents to $52.59 a barrel Wednesday. Brent crude oil, the international standard, lost 10 cents to $58.22 a barrel.

CURRENCIES: The dollar was unchanged at 107.46 Japanese yen. The euro also was little changed, at $1.0991, up from $1.0989 on Wednesday.

___

AP Business Writers Alex Veiga and Damian J. Troise contributed.

Copyright 2020 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

CBS47 On Your Side

Do you have a problem that you need help solving? Contact CBS47 and let us be On Your Side.

Phone: 559-761-0383
Email: OnYourSide@cbsfresno.com

Don’t Miss

Sunday Service
Best of the Valley
Sunday Morning Matters
MedWatch Today
Hispanic Heritage
Bulldog Insider: The Podcast
The Valley's Armenia
Pros Who Know

Images from Armenia

Small patients in Armenia
Yerevan by night.
Dr. Jeff Thomas delivers.
Dr. Jeff Thomas delivers in Gyumri.
Doctors unpack medical supplies from The Central Valley.
Fresno Medical Mission at work.
Medical Supplies being unloaded.
Fresno Medical Mission at the ready.
KSEE24 crew witnesses the miracle of life in Gyumri, Armenia.
Life saving work of Central Valley surgeons in Armenia.
Ribbon cutting on new surgical center in Ashtarak Armenia. Fresno donors made this dream come true.
KSEE24 on assignment with the Fresno Medical Mission
Honorary Consulate to Armenia Berj Apkarian explains the crisis facing one hospital.
KSEE24's Stefani Booroojian and Kevin Mahan at the meeting with President Bako Sahakyan.
Medical Meeting in Artsakh.
The President of Artsakh meets with the Fresno Medical Mission.
Learning modern medicine techniques with the Fresno Medical Mission in surgery.
Leaning in for a look. Dr. Brien Tonkinson holds class and helps a patient in Armenia.
Fresno Medical Mission cares on one of the smallest patients in the region. Six-year old Yanna receives life-changing better breathing surgery.