OPENING CALL: The Australian share market is expected to open higher. The SPI200 futures contract expected to open up 29 points.
U.S. negotiators offered to slash existing tariffs on Chinese imports and cancel new levies if Beijing agrees to boost purchases, intellectual-property protection and increase access to China’s financial-services sector.
Facebook will pay $130 million to establish an independent board charged with reviewing the company’s content moderating, providing long-term backing to its experiment in better policing the platform.
Each Market in Focus
Australian shares reversed the previous session’s gains, as the heavily-weighted big banks led broad losses.
The S&P/ASX 200 settled 0.7% lower at 6708.8, and is now little changed so far this week. Only the materials subindex advanced, edging up 0.1%. The four big banks lost ground, with Westpac down 1.2% after it held its annual general meeting in the wake of a money-laundering scandal.
Telstra dropped 2.1%, weighing on the telecom sector. Bucking the trend, Charter Hall gained 4.7% after lifting its earnings guidance and unveiling that it had spent A$1.25 billion on acquisitions.
The Dow Jones Industrial Average rose 197 points, or 0.7%. The S&P 500 gained 0.7%, while the Nasdaq Composite advanced 0.5%.
All three indexes hit intraday records after Mr. Trump’s tweet, before paring gains. The S&P 500 was on track to close at a new all-time high.
The president’s comments came ahead of a Sunday deadline when a fresh round of tariffs are set to go into effect on roughly $156 billion of Chinese goods.
Gold prices ended lower as President Donald Trump’s tweet that a trade deal with China is near rallied the stock market, dulling demand for the haven metal.
Oil futures settled higher, nearly recouping all losses from a day earlier, following a tweet from President Donald Trump that hinted the U.S. was close to a trade deal with China.
West Texas Intermediate crude for January delivery picked up 42 cents, or 0.7%, to settle at $59.18 a barrel on the New York Mercantile Exchange, after trading as high as $59.72.
EUR/GBP rises 0.4% to 0.8473, having earlier hit a one-week high of 0.8493, while GBP/USD declines 0.5% to 1.3132.
The WSJ Dollar Index, which measures the U.S. currency against a basket of 16 others, edged higher to 90.35 from 90.27 Wednesday.
The FTSE 100 gained 0.8%, outpacing other European markets, while the pound fell 0.9% against the dollar.
Politicians in both the major political parties are signaling an end to years of constrained fiscal policy as the country prepares to exit from the European Union, and the vote results will play a crucial role in determining the course of Brexit.
Meanwhile, the European Central Bank under its new President Christine Lagarde left interest rates unchanged at minus 0.5%, a day after the U.S. Federal Reserve also held rates steady. The benchmark Stoxx Europe 600 gained 0.3%.
Hong Kong stocks ended higher following the U.S. Fed’s indication it could tolerate higher inflation, which may help keep global rates low and support Hong Kong’s stock market. The Hang Seng Index closed 1.3% up at 26994.14.
Japanese stocks end mixed, helped by gains in electronics stocks, while financial stocks weighed. Financial stocks fell after the Fed signaled it was unlikely to raise rates soon. Nomura Holdings dropped 1.0%. Nikkei Stock Average ended up 0.1% at 23424.81, while the broader market index Topix ended down 0.1% at 1712.83
South Korean shares ended the session higher as construction companies and electronic makers buoyed the market. The benchmark Kospi closed 1.5% higher at 2137.35.
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