Asian Markets Firm Up As The US & China Gear Up For Minister Level Meeting

Asian Markets Firm Up As The US & China Gear Up For Minister Level Meeting

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The stocks in Asia have geared up as the sentiments of the investors have picked up pace amidst a new series of trade negotiations between China and the United States in Beijing.

The shares of Samsung rose by 3.47%. Kospi from South Korea jumped 1.34%, reaching 2,037.10 while the shares from Dongbu Steel, the steelmaker, have spiked by 30% post the announcement from the company regarding the issue to draw new shares in order to accomplish new investment.

Topix spiked by 2.81% stopping at 1,512.53 while Nikkei 225 from Japan jumped 2.44%, reaching 20,038.97 while Toyota hiked by 3.15%.

ASX 200, the benchmark of Australia witnessed a hike of 1.14% and closed at 5,683.20. Other sectors also experienced hike that includes the rise of major miners while materials sub-index spiked by 2.22%. Fortescue Metals Group was raised by 3.26%, Rio Tinto was hiked by 2.69%, and BHP Billiton matched its tune with 3.03% hike.

Hang Seng index in Hong Kong also gained over 0.6% and the share prices of China Mobile have raised by 1.11% after Nomura upgraded its rating from neutral to buy, expressing the strong position of the company in the sector of next-gen 5G wireless.

The markets of Mainland China also spiked that are being minutely observed as it is related to the ongoing trade war in Beijing. On the other hand, the Shanghai Composite witnessed 0.72% spike, closing around 2,533.09. Shenzhen composite splurged by 1.713% ending at 1,301.41 and the Shenzhen component was raised by 1.584% closing at 7,400.20.

The trade talks between the US and China are undergoing equivalent to the level of vice minister between January 7 and January 8 in Beijing. As per the reports, the working team is led by Jeffrey Gerrish, the Deputy US Trade Representative, who is about to meet the Chinese officials to discuss the matter under a constructive and positive light.