Asian Markets Extend Gains As Trade Hopes Persist 20 September 2018

Optimism that China and the United States will eventually resolve their trade conflict kept Asian investors buoyant on Thursday, while emerging market currencies held gains after Beijing's pledge not to weaponise the yuan in the standoff.

Hong Kong, (UrduPoint / Pakistan Point News - 20th Sep, 2018 ) :Optimism that China and the United States will eventually resolve their trade conflict kept Asian investors buoyant on Thursday, while emerging market currencies held gains after Beijing's pledge not to weaponise the Yuan in the standoff.

Regional markets have been on the rise this week after the two sides' latest tit-for-tat tariffs were considered lenient and allowed for talks, with observers suggesting a further escalation was unlikely before the end of the year.

And while China on Wednesday hit back at Donald Trump's accusation that it is using the trade conflict to affect November's key mid-term elections, the generally upbeat sentiment continued into a third day.

Tokyo ended the morning session up slightly to sit around a three-year high, while Hong Kong rose 0.

8 percent and Shanghai added 0.3 percent.

Singapore gained 0.2 percent and Seoul put on 0.7 percent with Jakarta rising 0.5 percent.

However, Wellington eased 0.2 percent despite data showing the New Zealand economy grew at its fastest in two years during the second quarter. Sydney and Taipei also both eased 0.2 percent.

"With both the US and China likely to resume negotiations, expectations are still there for a resolution before President Trump deems it necessary to double down on tariffs," said Stephen Innes, head of Asia-Pacific trade at OANDA.

The broadly positive performance followed a healthy lead from Wall Street, with all three main indexes pushing closer to record highs.