OPENING CALL: The Australian share market is expected to open lower. The SPI200 futures contract expected to open down 10 points.
The Trump administration has allowed some U.S. suppliers to Huawei to resume shipping to the Chinese telecom giant, easing export restrictions while negotiators struggle to work out the first phase of a trade deal.
U.S. Senate passed a bill in support of Hong Kong’s antigovernment protesters. The bill would require the U.S. Secretary of State to certify annually that Hong Kong remained sufficiently independent from Beijing to warrant the special status that has helped the city grow into a global financial hub
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consumer-discretionary sector, thanks to 6.0% rally by Aristocrat Leisure with the release of its full-year earnings.
The Dow Jones Industrial Average dropped 230 points, or 0.8%, in midday trading. The S&P 500 shed 0.8%. The Nasdaq Composite lost about 1.1%, retreating from the record hit Tuesday.
The dollar was modestly stronger as investors grow increasingly concerned about the prospects for a “phase one” trade deal between the U.S. and China.
Trade tensions tend to boost the dollar because the U.S. economy is seen as less vulnerable to a trade war than many other economies.
The dollar was recently flat against the euro but up roughly 0.1% against the Japanese yen and 0.2% against the Swiss franc. The WSJ Dollar Index was up less than 0.1% at 90.83.
The Shanghai Composite Index ended the day down 0.8%. Investors are growing concerned that relations between the world’s two biggest economies may be further strained after the U.S. Senate passed a bill in support of Hong Kong’s antigovernment protesters.
Hong Kong’s Hang Seng Index closed 0.8% lower at 26889.61. Blue-chip stocks including financials and developers were broadly lower, with index heavyweight AIA Group shedding 2.1%, China Life Insurance losing 1.4% and developer Country Garden Holdings falling 1.1%.
Banks mostly inched down after China’s benchmark lending rates dropped in November. Bank of Communications and Bank of China declined 0.8% and 0.6%, respectively.
India’s BSE Sensex closed 0.5% higher at 40651.64, after hitting a fresh all-time high earlier in the session today. Sun Pharmaceutical Industries was the biggest gainer with a 5.7% rise, followed by IndusInd Bank, up 5.5%, while Yes Bank gained 2.7%.
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