Asian shares rise on trade war relief as investors await data
Asian shares rose on Wednesday, following gains on Wall Street, as a report of attempts to renew talks between the United States and China eased trade war fears, but investors will be keeping a close eye on data due today.
Global markets inched higher on Tuesday, helped by a Bloomberg report that the U.S. and China were seeking to resume trade talks to defuse the battle over import tariffs.
"Solid U.S. data helped boost risk sentiment; however it was the news that Mnuchin and Liu He are speaking again that sparked a bigger risk rally," ANZ analysts said in a note, referring to the U.S. Treasury secretary and the Chinese vice premier.
The Dow Jones Industrial Average <.dji> rose 0.43 percent to 25,415.19, the S&P 500 <.spx> gained 0.49 percent to 2,816.29 and the Nasdaq Composite <.ixic> added 0.55 percent to 7,671.79.
But a later Bloomberg report that the U.S. plans higher tariffs on $200 billion in Chinese imports underscored the volatility of U.S.-China trade relations.
In Asia, MSCI`s broadest index of Asia-Pacific shares outside Japan <.miapj0000pus> was up 0.1 percent in early trade, while Japan`s Nikkei stock index <.n225> gained 0.5 percent. S&P E-mini futures
Tech shares across the region may get a boost after Apple Inc.
Investors will also be watching data from around the region, including manufacturing activity numbers from China, for indications of the outlook for the global economy.
Data from Australia showed a slowdown in manufacturing activity in July, with the Commonwealth Bank/Markit purchasing managers index at its lowest level in nearly two years.
But Australian shares <.axjo> still moved higher on Wednesday, gaining 0.2 percent, taking support from higher commodity prices.
Policy meetings of the U.S. Federal Reserve on Wednesday and the Bank of England on Thursday will also keep some investors on the sidelines, although the U.S. central bank is expected to keep rates unchanged.
The yield on benchmark 10-year Treasury notes
The two-year yield
The dollar was flat against the yen at 111.81
(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)
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