Asian markets closed mostly higher on Wednesday after comments from White House economic advisor Larry Kudlow gave rise to new hopes for a de-escalation of the US-China trade dispute. President Donald Trump remains open to a deal with China and the upcoming G20 summit offers ‘an opportunity to break through what have been disappointing discussions’ in recent months, Kudlow told on Tuesday. Traders also looked ahead to a speech by Fed Chairman Jerome Powell later in the day and the minutes from the Fed's November 7-8 meeting due on Thursday for additional clues on the interest rate outlook. On Tuesday, Federal Reserve Vice Chair Richard Clarida reaffirmed the need for further rate hikes, but cautioned the tightening path would be data dependant. Chinese shares ended up as investors held out hopes for a de-escalation of Sino-US trade tensions. Further, Japanese shares rose sharply to extend gains for a fourth consecutive session, as investors tracking an advance in Wall Street overnight and a cheaper yen.
Asian Indices | Last Trade | Change in Points | Change in % |
Shanghai Composite | 2,601.74 | 27.06 | 1.04 |
Hang Seng | 26,682.56 | 350.60 | 1.31 |
Jakarta Composite | 5,991.25 | -22.34 | -0.37 |
KLSE Composite | 1,686.55 | 1.58 | 0.09 |
Nikkei 225 | 22,177.02 | 224.62 | 1.01 |
Straits Times | 3,094.48 | 4.08 | 0.13 |
KOSPI Composite | 2,108.22 | 8.80 | 0.42 |
Taiwan Weighted | 9,884.31 | 105.69 | 1.07 |
