Asian stocks in rocky trade over U.S.-China trade confusion

Asian stocks in rocky trade over U.S.-China trade confusion

Asian shares were in rocky trade on Tuesday after the confusing statements made by the White House over the U.S.-China trade deal. President Trump also clarified that the pact between the two countries was “fully intact.”

S&P 500 e-minis were back in positive territory as the market sentiment rose. MSCI’s broadest index of Asia Pacific shares outside of Japan were up 0.7%.

Chinese blue-chip index rose 0.3%, while Hong Kong’s Hang Seng gained 0.7%. Australia’s S&P/ASX 200 climbed 0.1%, while Japan’s Nikkei grew 0.8%.

Asian stocks have rallied since hitting lows in March due to the coronavirus pandemic. Stocks were supported by central bank stimulus and easing lockdowns in many countries. 

On Wall Street, the Dow gained 0.59%, the S&P 500 climbed 0.65%, and the Nasdaq rose 1.11%.

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