Tokyo stocks close higher, tracking US rallies Tue, 20 Aug 2019 14:51:14 +0200
Tokyo stocks have closed higher for a third straight session, taking a positive lead from bullish trade on Wall Street.
Most Asian markets have risen on the back of hopes for central bank and government stimulus measures around the world, while investors were also cheered by further signs of easing tensions in the China-US trade war.
European stock markets have steadied at the open after recent volatility, with London slightly higher and eurozone indices edging lower.
The Stoxx Europe 600 Index advanced after fluctuating earlier. Contracts on three main American equity indexes all struggled for traction after the underlying benchmarks rose on Monday, when the US commerce secretary said the nation will delay restrictions on some operations of China’s Huawei Technologies.
The JSE has gotten off to a firmer start this week as it tracked other global stocks higher, after the US signalled progress in the trade talks with China.
The steadying of the US Treasury market and talk of economic stimulus in Germany and China helped lift Wall Street stocks on Monday.
Stock markets have rallied after US President Donald Trump's top economic adviser hailed "positive" trade talks with Chinese negotiators.
The rand started the day on the backfoot at R15.29. The day's range was expected to be between R15.25 and R15.38.
Oil rose for a second day after a drone attack on a Saudi Arabian oil field brought geopolitical risks back into focus, and as the prospect of more US-China trade meetings spurred some investor optimism.
Investors will be hanging on Jerome Powell's every word this week for clues as to whether the current nervousness gripping emerging markets is justified.
The JSE closed off a difficult trading week by closing flat on Friday as sentiment remains mostly bearish for local stocks
London's FTSE 100 shares index have rebounded when it finally opened on Friday after a delay caused by an unspecified trading issue.
Asian markets were jittery Friday as a modest rebound in US equities failed to ease fears over the US-China trade war and its impact on the world economy.
Eurozone stock markets have recovered at the start of trading, but the opening of London's benchmark FTSE 100 index was delayed owing to a "trading" issue according to its operator.
Tokyo stocks have closed slightly higher, supported by gains of Chinese shares, but trade was sluggish with investors in a wait-and-see mode ahead of the weekend.
TreasuryONE said in a note earlier that EM currencies had recovered from their weaker levels.
The JSE gave up earlier gains to close softer on Thursday as local sentiment remained largely bearish given weaker local and global economic fundamentals
Wall Street stocks have opened higher following mixed US economic data, bouncing modestly after the Dow suffered its worst session of the year.
Stock markets and the dollar have slid after Wall Street suffered its worst showing this year, as mounting fears of a possible global recession saw investors flee equities for havens such as bonds, the yen and gold.
Tokyo's benchmark Nikkei index was down sharply on Thursday after Wall Street shares nosedived on fears for the global economy.