Asian markets ended higher on Friday after US Treasury Secretary Steven Mnuchin said the United States and China were ‘making a lot of progress’ in talks and he looked forward to discussions with Chinese Vice Premier Liu He next week, with currency issues also on the agenda. Separately, US Commerce Secretary Wilbur Ross said that the US is ‘miles and miles’ from a trade deal with China but there is a fair chance they will get a deal. Japanese shares ended higher as chip-related firms tracked their US peers higher following well-received earnings out of the semiconductor sector. Further, Chinese shares closed higher, helped by strength in banking shares, after regulators unveiled measures to help lenders replenish capital, but lingering worries over Sino-US trade talks and economic health capped gains. China will allow insurance firms to invest in tier-2 capital bonds and perpetual bonds issued by banks, and set up a central bank bills swap to improve the liquidity of banks’ perpetual bonds. The move will make banking shares more attractive to investors.
Asian Indices | Last Trade | Change in Points | Change in % |
Shanghai Composite | 2,601.72 | 10.03 | 0.39 |
Hang Seng | 27,569.19 | 448.21 | 1.65 |
Jakarta Composite | 6,482.84 | 16.18 | 0.25 |
KLSE Composite | 1,701.03 | 7.44 | 0.44 |
Nikkei 225 | 20,773.56 | 198.93 | 0.97 |
Straits Times | 3,202.25 | 11.52 | 0.36 |
KOSPI Composite | 2,177.73 | 32.70 | 1.52 |
Taiwan Weighted | 9,969.61 | 92.49 | 0.94 |
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