Asian shares rebound from 12-month lows, on news of US-China trade talks
Tokyo — Asian shares pulled away from one-year lows on Thursday, after Beijing said it would hold trade talks with Washington in August, although Turkey’s currency crisis and fears of an economic slowdown in China kept most markets in the red. MSCI’s broadest index of Asia-Pacific shares outside Japan was 0.3% lower, after shedding as much as 1.1% to hit its lowest in just over a year. China on Thursday said a delegation led by its vice-commerce minister would travel to the US for talks in late August at the invitation of Washington. That helped Chinese stocks pare losses, with the Shanghai composite index and Hong Kong’s Hang Seng index both down 0.4%, having earlier fallen as much as 1.9% and 1.7%, respectively. Japan’s Nikkei swung into positive territory, up 0.2% on the day, but was down as much as 1.5% in morning trade. The euro rose 0.3% and the offshore Chinese yuan gained 0.4% following the news on China. US stock futures rose 0.3%. The announcement by the Chinese commerce m...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.