Chinese equities gained on Tuesday on returning from the National Day break as stocks in the region rose ahead of the next round of US-China trade talks later this week.
China’s CSI 300 was up 1.1 per cent after coming back online following a one-week holiday. In Hong Kong, the Hang Seng index was 0.7 per cent higher, rising from a five-week low despite four days of often violent protests after the city’s chief executive invoked a colonial era emergency law to ban demonstrators from wearing face masks.
Beijing said on Tuesday that Liu He, the country’s vice-premier, would travel to Washington for two days of high-level trade talks starting on Thursday. That announcement came hours after the Trump administration blacklisted 28 Chinese entities primarily involved in surveillance and artificial intelligence, restricting companies from exporting American-made goods to the Chinese groups.
Both the Topix in Japan and Australia’s S&P/ASX 200 gained 0.9 per cent and 0.4 per cent respectively.
In currencies, the onshore renminbi, which is permitted to trade 2 per cent either side of a daily mid point set by China’s central bank, was 0.3 per cent stronger following the National Day holiday at Rmb7.1261.
The Turkish lira remained under pressure after US President Donald Trump threatened to “obliterate” Turkey’s economy if the country launched any operation in Syria that he considered to be “off limits”. The currency was hovering at its lowest in more than a month at TL5.839 against the US dollar.
- Germany industrial output
- France trade
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