Chinese stocks make gains after Friday's partial trade deal

Lola Evans
14 Oct 2019, 17:48 GMT+10

It was a quiet day on Monday with Japanese markets closed.
There was some headway on Chinese and Australian markets due to the partial trade deal agreed on Friday between China and the United States.
The hastily put-together deal which dealt with a minimal number of issues however was greeted with caution.

SYDNEY, Australia - It was a quiet day on Monday in Asia with Japanese markets closed.

There was some headway on Chinese and Australian markets due to the partial trade deal agreed on Friday between China and the United States.

The hastily put-together deal which dealt with a minimal number of issues however was greeted with caution.

"Hardly the signs of a significant breakthrough," Jeffrey Halley, senior Asia-Pacific market analyst for Oanda, said in a note circulated on Sunday. "Both sides appear to have taken small wins that suited them both in the here and now, kicking the significant issues down the road," he added.

At the close of trading Monday China's Shanghai Composite was ahead 34.23 points or 1.15% to 3,007.88.

In Hong Kong, the Hang Seng closed 236.53 points or 0.90% higher at 26,544.97.

The Australian All Ordinaries added 36.00 points or 0.54% to 6,757.90.

On foreign exchange markets the British pound went on a wild ride. It earlier hit a high of 1.2645, but as news filtered through of concerns as whether a deal on Brexit would be concluded the pound began being sold-off. Are sinking to 1.2555, the unit found some support as European trading commenced with the pound changing hands at 1.2585.

The euro drifted lower to 1.1023.

The Japanese yen edged a little higher to 108.19. The Swiss franc was slightly firmer at 0.9956.

The Canadian dollar was little changed at 1.3210. Australian dollar was a fraction weaker at 0.6776, as was the New Zealand dollar at 0.6312.

Watch latest videos

News RELEASES

Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to Pennsylvania Sun.

More Information

63 ℉

Fair in Harrisburg/Capital

International

Section

U.S. in lockdown, 50% of states activate National Guard

WASHINGTON, DC - Under siege in the White House, President Donald Trump is aggravating America's latest racial anguish in a ...

11 Washington DC police injured in third day pf protests

WASHINGTON, DC, May 31 (Xinhua) - Washington, D.C. Mayor Muriel Bowser said on Sunday night she was imposing a citywide ...

Israeli police shoot autistic Palestinian man suspecting he was armed

JERUSALEM - Israel's defense minister apologized on Sunday for the Israeli police's deadly shooting of an unarmed Palestinian man who ...

Use of masks outside homes in Dubai no longer mandatory at all times

DUBAI, UAE - The Dubai government is to relax restrictions on wearing face masks in public.Until Sunday, everyone regardless of ...

Something is Deeply Wrong in the American Psyche

"It's My Face Man!.I Didn't Do Nothing Serious Man!.Please!Please!Please!I Can't Breathe!.Please!Man!Please!.Somebody!.Please!Man!.I Can't Breathe!.I Can't Breathe!.Please!.(inaudible),,,,Man!Can't Breathe!.My Face!.Just Get Up!.I Can't ...