Asian shares climb as Trump says U.S. China trade deal near

  • Wednesday 27, November 2019 11:38 AM
  • Asian shares climb as Trump says U.S. China trade deal near
Sharjah24- Reuters : Asian shares rose on Wednesday and European stocks looked set for gains after U.S. President Donald Trump said negotiators were close to inking an initial trade deal, while expectations the Federal Reserve will keep rates low underpinned sentiment.
Trump's upbeat comments on trade stoked confidence in Asia with MSCI's broadest index of Asia-Pacific shares outside Japan up 0.29%. Australian shares added 0.93% and Japan's Nikkei rose 0.39%.

In Europe, pan-region Euro Stoxx 50 futures were up 0.16% at 3,710, German DAX futures gained 0.16% to 13,262.5 and FTSE futures rose 0.1% to 7,412.

Chinese blue-chip shares, in contrast, dropped 0.21% after the data showed profits at China's industrial firms declined in annual terms for the third consecutive month in October. The decline tracked sustained drops in producer prices and exports and underscored slowing momentum in the world's second-largest economy.

Trump said on Tuesday the United States and China are close to agreement on the first phase of a trade deal after top negotiators from the two countries spoke by telephone and agreed to keep working on remaining issues.

Gold was lower, changing hands at $1,458.33 per ounce on the spot market, down 0.2%.