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Asian markets traded higher on Wednesday, with stocks in Shanghai leading the way on hopes for a resumption of US-China trade talks next week.
US negotiators are expected to travel to China to resume talks on a trade agreement, a person familiar with the plans told CNN. The negotiations will be the first face-to-face talks since President Donald Trump met Xi Jinping, his Chinese counterpart, at the G20 summit last month.
Here are some of the other big moves on Asian markets at 10:30 a.m. in Hong Kong today.
Wall Street’s gains provided a positive lead. The Dow and S&P 500 both closed 0.7% higher, while the Nasdaq gained 0.6%.
Investors were cheered by the prospect of reduced trade tension and shrugged off news of an unprecedented confrontation Tuesday between warplanes from four countries above a disputed island off the coast of South Korea and Japan.
Nissan shares rose 0.9% in Tokyo, outperforming the Japanese market, after reports that it will cut 10,000 jobs.
The Star Market, China’s new Nasdaq-style tech board, had a positive opening on its third day of trading. Of the 25 stocks listed, 19 were rising in early trade.
The British pound dropped slightly against the US dollar, pulling back following a rally after Boris Johnson won a party leadership election, putting him on track to be confirmed as prime minister Wednesday.
In company news, Chinese e-commerce giant Alibaba
(BABA) said it will open up its platform to allow American companies to sell their products to small-and mid-sized businesses around the world.
