Recovery in battered Chinese shares lifts Asian equities
Earnings-led gains on Wall Street also support stocks, providing welcome relief for traders as they grapple with China-US trade war
Tokyo — A rebound in battered Chinese stock markets on Monday helped lift Asian equities, which also drew support from earnings-led gains on Wall Street in a welcome relief for investors grappling with an intensifying China-US trade conflict. Spread-betters expected European stocks to open slightly higher, with Britain’s FTSE rising 0.1%, Germany’s DAX advancing 0.15% and France’s CAC adding 0.13%. MSCI’s broadest index of Asia-Pacific shares outside Japan was up 0.35%. The Shanghai composite index rose 1.4% as investors snapped up shares that were hit hard during a four-day losing run. Chinese equities were expected to remain volatile as Beijing’s trade feud with Washington showed little signs of de-escalation. South Korea’s Kospi rose 0.3% and Japan’s Nikkei added 0.6%. The three major US stock indices closed higher on Monday amid a strong US earnings season, with results from Berkshire Hathaway impressing and Facebook lifting the Nasdaq after a report it was planning new services...
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