• Skip to primary navigation
  • Skip to main content
  • Skip to primary sidebar

Auto Breaking News

Latest auto breaking news from around the world

  • Submit
  • Disclaimers
  • About
  • DMCA
  • Privacy Policy
  • Contact
  • Show Search
Hide Search

You are here: Home / Asian stocks follow Wall Street higher

Asian stocks follow Wall Street higher

· May 14, 2019 ·

Wednesday May 15, 2019 12:48 AM

Asian stocks follow Wall Street higher after Trump downplays impact of tariff war with Beijing, says resolution possible

Written by By JOE McDONALD, AP Business Writer

BEIJING (AP) — Asian stocks followed Wall Street higher on Wednesday after President Donald Trump downplayed his escalating tariff war with Beijing and said a settlement is possible.

Benchmarks in Shanghai, Tokyo, Hong Kong and Sydney advanced as investors mulled the likely costs of U.S. and Chinese tariff hikes on hundreds of billions of dollars of each other’s goods.

Trump said on Twitter the conflict over Beijing’s technology ambitions and trade surplus was a “little squabble” between friends. He said, “When the time is right we will make a deal with China.”

Global equities rallied on that “positive tone,” said Edward Moya of OANDA in a report.

Despite no sign of a deal or even a date for more talks, “no escalation in tensions was good enough of a reason for investors to return to buying stocks,” said Moya.

The Shanghai Composite Index rose 1.1% to 2,915.35 and Tokyo’s Nikkei 225 added 0.2% to 21,100.80. Hong Kong’s Hang Seng advanced 0.8% to 28,356.30 and Sydney’s S&P-ASX 200 was 0.5% higher at 6,271.20.

Markets in Taiwan, New Zealand and Indonesia also advanced. Singapore retreated.

Trump threw financial markets into turmoil with his surprise May 5 announcement of plans to raise tariffs on $200 billion of Chinese imports to 25% from 10%. When that went ahead Friday, Beijing retaliated by raising duties on $60 billion of American goods.

Investors worry that in addition to depressing trade, the fight sparked by U.S. complaints about China’s technology ambitions might hurt consumer and business confidence, depressing spending and investment.

On Wall Street, tech stocks led the way higher Tuesday after suffering a beating the previous day. Qualcomm and Cisco both rose, along with Oracle, Adobe and others. Banks also rose. JPMorgan Chase, Bank of America and others moved higher.

The benchmark Standard & Poor’s 500 index rose 0.8% to 2,834.41. It recovered nearly a third of Monday’s loss and would now need to rise 3.9% to regain the record it set a couple weeks ago.

The Dow Jones Industrial Average rose 0.8% to 25,532.05 and the Nasdaq composite index jumped 1.1% to 7,734.49.

ENERGY: Benchmark U.S. crude lost 36 cents to $61.42 per barrel in electronic trading on the New York Mercantile Exchange. The contract rose 74 cents on Tuesday to close at $61.78. Brent crude, used to price international oils, shed 17 cents per barrel in London. It jumped $1.01 the previous session to $71.24.

CURRENCY: The dollar edged up to 109.64 yen from Tuesday’s 109.61 yen. The euro declined to $1.1207 from $1.1208.

Share this article


  • Markets Right Now: Stocks edge mostly higher on Wall Street
  • Markets Right Now: Indexes rise slightly on Wall Street
  • Netflix's 3rd-quarter earnings blow through Wall Street's expectations (NFLX)
  • Here is what Uber needs to do to win over Wall Street
  • GOLDMAN SACHS: Here's what Wall Street is getting wrong about Netflix (NFLX)
  • Netflix is climbing after a Wall Street analyst says to buy the dip because of growth in India (NFLX)
  • Comcast and Disney Enjoy Wall Street Bump on Pulled Fox Bid
  • 'Please sell our stock': Elon Musk clashes with Wall Street during epic earnings call
  • Netflix, Facebook Hammered by Wall Street Stock Drop
  • Netflix Continues Wall Street Rally After Big Night at Golden Globes

Filed Under: Sidestage Wire > Money |, AP, 23 wall street, stream wolf of wall street, 40 wall street, 99 wall street, wolf from wall street, wolf of wall street netflix, wolf of wall street quotes, wolf of wall street stream, why chinese mothers are superior wall street journal, wall street pub, netflix wolf of wall street, wall street where is it, stock broker firms on wall street, stock broker wall street, stock broker wall street salary, screwing wall street, penny stock wolf of wall street, stocks on wall street, wall street journal why chinese mothers are superior, bonuses wall street, richest stock broker wall street, wall street hotel vancouver, free subscription to wall street journal, visit wall street stock exchange, visit stock exchange wall street, wall street insurance, wall street journal fashion, new york stock exchange wall street, new york stock exchange wall street journal, bonuses on wall street

Primary Sidebar

RSS Recent Stories

  • Aston Martin CEO Says Shareholders In It For The Long-Term, Not Soliciting Participation
  • Chevy Suburban First Vehicle To Receive Star On Hollywood Walk Of Fame
  • Hyundai’s Research Shows There Are 36,750 Different Driving Styles
  • Horner ziet topcoureurs niet van team wisselen voor 2021
  • BMW Group Registers A Growth Of 1.4 Per cent In Sales Globally In November 2019
Copyright © 2019 Auto Breaking News. Power by Wordpress.