European stocks slightly lower as caution returns ahead of Davos

European markets traded slightly lower on Monday as policymakers and business leaders gather in Davos, Switzerland for the annual World Economic Forum (WEF) conference . The pan-European Stoxx 600 was down 0.1% during afternoon trade, with household goods falling 0.9% to lead losses while insurance stocks added 0.5%. Climate change and sustainable business will be a key focus for delegates at this year’s WEF summit, but other political risks such as international trade and geopolitical instabili


European markets traded slightly lower on Monday as policymakers and business leaders gather in Davos, Switzerland for the annual World Economic Forum (WEF) conference .
The pan-European Stoxx 600 was down 0.1% during afternoon trade, with household goods falling 0.9% to lead losses while insurance stocks added 0.5%.
Climate change and sustainable business will be a key focus for delegates at this year’s WEF summit, but other political risks such as international trade and geopolitical instabili
European stocks slightly lower as caution returns ahead of Davos Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-01-20  Authors: elliot smith chloe taylor, elliot smith, chloe taylor
Keywords: news, cnbc, companies, business, worlds, unchanged, traded, tensions, returns, caution, davos, trade, wef, trump, slightly, lower, vice, stocks, world, ahead, european


European stocks slightly lower as caution returns ahead of Davos

European markets traded slightly lower on Monday as policymakers and business leaders gather in Davos, Switzerland for the annual World Economic Forum (WEF) conference .

The pan-European Stoxx 600 was down 0.1% during afternoon trade, with household goods falling 0.9% to lead losses while insurance stocks added 0.5%.

Climate change and sustainable business will be a key focus for delegates at this year’s WEF summit, but other political risks such as international trade and geopolitical instability are also likely to be on the agenda.

Elsewhere, the People’s Bank of China kept its loan prime rate unchanged on Monday, sending Asian shares higher. The decision came after President Donald Trump and Chinese Vice Premier Liu He signed a long-awaited “phase one” trade deal on Wednesday, easing tensions between the world’s two largest economies.


Company: cnbc, Activity: cnbc, Date: 2020-01-20  Authors: elliot smith chloe taylor, elliot smith, chloe taylor
Keywords: news, cnbc, companies, business, worlds, unchanged, traded, tensions, returns, caution, davos, trade, wef, trump, slightly, lower, vice, stocks, world, ahead, european


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Elizabeth Warren calls for investigation into whether Trump Mar-a-Lago guests traded on advance knowledge of Soleimani killing

2020 Democratic Presidential candidate Senator Elizabeth Warren speaks as she attends a rally at the Kings theatre on January 7, 2020 in New York. Presidential contender Elizabeth Warren is demanding a federal investigation into whether President Donald Trump provided advance notice of the deadly strike on Iran’s Gen. Qasem Soleimani to stock traders who may have profited illegally from the tip. The Massachusetts Democratic senator made her demand in a letter dated Monday to the chairmen of the


2020 Democratic Presidential candidate Senator Elizabeth Warren speaks as she attends a rally at the Kings theatre on January 7, 2020 in New York.
Presidential contender Elizabeth Warren is demanding a federal investigation into whether President Donald Trump provided advance notice of the deadly strike on Iran’s Gen. Qasem Soleimani to stock traders who may have profited illegally from the tip.
The Massachusetts Democratic senator made her demand in a letter dated Monday to the chairmen of the
Elizabeth Warren calls for investigation into whether Trump Mar-a-Lago guests traded on advance knowledge of Soleimani killing Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-01-14  Authors: tucker higgins
Keywords: news, cnbc, companies, stocks, trump, elizabeth, securities, investigation, knowledge, wrote, soleimani, guests, strike, traded, security, maralago, killing, resort, senator, warren, report


Elizabeth Warren calls for investigation into whether Trump Mar-a-Lago guests traded on advance knowledge of Soleimani killing

2020 Democratic Presidential candidate Senator Elizabeth Warren speaks as she attends a rally at the Kings theatre on January 7, 2020 in New York.

Presidential contender Elizabeth Warren is demanding a federal investigation into whether President Donald Trump provided advance notice of the deadly strike on Iran’s Gen. Qasem Soleimani to stock traders who may have profited illegally from the tip.

The Massachusetts Democratic senator made her demand in a letter dated Monday to the chairmen of the Securities and Exchange Commission and the Commodities Futures Trading Commission. It cited a Daily Beast report that Trump had told guests at his Mar-a-Lago resort days before the Jan. 3 strike to expect a “big” response to Iran “soon.”

“If this report is true, it raises a number of troubling national security questions regarding President Trump’s handling of classified and other sensitive national security information,” Warren wrote in the letter, which was also signed by Sen. Chris Van Hollen, D-Md., the ranking member of the Senate subcommittee that oversees securities and investments.

The senators wrote that the president’s Florida resort guests may have obtained “confidential market-moving information and had the opportunity to trade defense industry stocks or commodities or make other trades based on this information.”

Read more: Defense stocks double the S&P 500′s return six months after Middle East turmoil, history shows


Company: cnbc, Activity: cnbc, Date: 2020-01-14  Authors: tucker higgins
Keywords: news, cnbc, companies, stocks, trump, elizabeth, securities, investigation, knowledge, wrote, soleimani, guests, strike, traded, security, maralago, killing, resort, senator, warren, report


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European stocks decline as US-Iran tensions fuel safe haven buying

European stocks traded lower on Monday, as investors monitored rising tensions between the United States and Iran . Oil is also surging on the back of intensifying U.S.-Iran tensions, amid fears it could disrupt supply in the Middle East. Meanwhile, Iran has declared it will no longer adhere to uranium enrichment restrictions agreed under the 2015 nuclear deal. The Nikkei 225 dived 1.9% while MSCI’s broadest index of Asia-Pacific shares excluding Japan slipped 1%. He’ll have another chance on Tu


European stocks traded lower on Monday, as investors monitored rising tensions between the United States and Iran .
Oil is also surging on the back of intensifying U.S.-Iran tensions, amid fears it could disrupt supply in the Middle East.
Meanwhile, Iran has declared it will no longer adhere to uranium enrichment restrictions agreed under the 2015 nuclear deal.
The Nikkei 225 dived 1.9% while MSCI’s broadest index of Asia-Pacific shares excluding Japan slipped 1%.
He’ll have another chance on Tu
European stocks decline as US-Iran tensions fuel safe haven buying Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-01-06  Authors: elliot smith ryan browne, elliot smith, ryan browne
Keywords: news, cnbc, companies, japan, buying, iran, safe, haven, traded, slipped, usiran, tensions, fuel, decline, parliament, iraq, stocks, european, losses, index


European stocks decline as US-Iran tensions fuel safe haven buying

European stocks traded lower on Monday, as investors monitored rising tensions between the United States and Iran .

The pan-European Stoxx 600 slipped 0.7% in early deals, with chemicals and travel stocks falling more than 1.2% to lead losses as all sectors except oil and gas, which spiked a further 1%, traded in the red.

Market players are fleeing riskier assets like equities in favor of safer alternatives like gold and bonds after a U.S. airstrike last week killed Iran’s top military commander, Qasem Soleimani, in Iraq. The attack has heightened already-volatile relations between Washington and Tehran.

Oil is also surging on the back of intensifying U.S.-Iran tensions, amid fears it could disrupt supply in the Middle East. Brent crude futures were up 2.3%, or $1.56, at $70.16 a barrel at 6:46 a.m. London time. U.S. West Texas Intermediate (WTI) crude futures climbed 2%, or $1.25, to $64.31.

Over the weekend, Iraq’s parliament passed a resolution calling for the government to expel foreign troops from the country. President Donald Trump responded by threatening to impose sanctions on Iraq. Meanwhile, Iran has declared it will no longer adhere to uranium enrichment restrictions agreed under the 2015 nuclear deal.

In Asia, markets mostly fell with Japan leading the losses. The Nikkei 225 dived 1.9% while MSCI’s broadest index of Asia-Pacific shares excluding Japan slipped 1%.

Back in Europe, Spanish Socialist leader Pedro Sanchez failed to secure parliament backing to form a government. He’ll have another chance on Tuesday, when another vote will be held in which he only requires a simple majority.

In terms of data, German retail sales for November and euro zone composite PMI (purchasing managers’ index) for December are due to be released later this morning.


Company: cnbc, Activity: cnbc, Date: 2020-01-06  Authors: elliot smith ryan browne, elliot smith, ryan browne
Keywords: news, cnbc, companies, japan, buying, iran, safe, haven, traded, slipped, usiran, tensions, fuel, decline, parliament, iraq, stocks, european, losses, index


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European stocks decline after US airstrike kills Iranian commander, spiking tensions

European stocks traded lower on Friday as geopolitical tensions spiked after U.S. airstrikes in Iraq killed a top Iranian military commander. The pan-European Stoxx 600 slid 0.5% in early trade, travel and leisure stocks falling 1.4% to lead losses as all sectors traded in the red except oil and gas, which surged 0.9% on the back of renewed unrest in the Middle East. Iranian Major-General Qasem Soleimani, head of Tehran’s elite Quds Force, was killed early on Friday by a U.S. airstrike on his co


European stocks traded lower on Friday as geopolitical tensions spiked after U.S. airstrikes in Iraq killed a top Iranian military commander.
The pan-European Stoxx 600 slid 0.5% in early trade, travel and leisure stocks falling 1.4% to lead losses as all sectors traded in the red except oil and gas, which surged 0.9% on the back of renewed unrest in the Middle East.
Iranian Major-General Qasem Soleimani, head of Tehran’s elite Quds Force, was killed early on Friday by a U.S. airstrike on his co
European stocks decline after US airstrike kills Iranian commander, spiking tensions Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-01-03  Authors: elliot smith
Keywords: news, cnbc, companies, european, iranian, renewed, spiking, tensions, decline, tehrans, middle, killed, early, stocks, spiked, traded, losses, commander, airstrike, kills


European stocks decline after US airstrike kills Iranian commander, spiking tensions

European stocks traded lower on Friday as geopolitical tensions spiked after U.S. airstrikes in Iraq killed a top Iranian military commander.

The pan-European Stoxx 600 slid 0.5% in early trade, travel and leisure stocks falling 1.4% to lead losses as all sectors traded in the red except oil and gas, which surged 0.9% on the back of renewed unrest in the Middle East.

Iranian Major-General Qasem Soleimani, head of Tehran’s elite Quds Force, was killed early on Friday by a U.S. airstrike on his convoy at Baghdad airport, the Pentagon has confirmed.

Iran’s Foreign Minister has tweeted that the U.S. bears responsibility for all consequences of its “rogue adventurism,” while Fars News Agency reported a spokesman as saying that Iran’s top security body will meet to discuss Tehran’s response.

Oil prices spiked following the attack, with Brent Crude and WTI both up more than 3% Friday morning.

Major Asian markets declined by Friday afternoon as investors weighed the impact of renewed tensions in the Middle East, with Hong Kong’s Hang Seng index leading losses.


Company: cnbc, Activity: cnbc, Date: 2020-01-03  Authors: elliot smith
Keywords: news, cnbc, companies, european, iranian, renewed, spiking, tensions, decline, tehrans, middle, killed, early, stocks, spiked, traded, losses, commander, airstrike, kills


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Treasury yields tick lower in thin holiday trading

U.S. Treasury yields ticked slightly lower on Friday, heading into a week of trading thinned by the mid-week holiday. ET, the yield on the benchmark 10-year Treasury note traded lower at 1.891%, while the yield on the 30-year Treasury bond traded lower at 2.320%. Bond yields move inversely to the price of the debt. December’s market rally has also come as yields bounce back, with both stocks and bond yields benefiting ever since the U.S. and China announced a phase one trade agreement earlier th


U.S. Treasury yields ticked slightly lower on Friday, heading into a week of trading thinned by the mid-week holiday.
ET, the yield on the benchmark 10-year Treasury note traded lower at 1.891%, while the yield on the 30-year Treasury bond traded lower at 2.320%.
Bond yields move inversely to the price of the debt.
December’s market rally has also come as yields bounce back, with both stocks and bond yields benefiting ever since the U.S. and China announced a phase one trade agreement earlier th
Treasury yields tick lower in thin holiday trading Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-12-27  Authors: michael sheetz spriha srivastava, michael sheetz, spriha srivastava
Keywords: news, cnbc, companies, trading, treasury, trade, holiday, deal, signing, chinese, lower, yield, traded, yields, tick, bond


Treasury yields tick lower in thin holiday trading

U.S. Treasury yields ticked slightly lower on Friday, heading into a week of trading thinned by the mid-week holiday.

At about 7:45 a.m. ET, the yield on the benchmark 10-year Treasury note traded lower at 1.891%, while the yield on the 30-year Treasury bond traded lower at 2.320%. Bond yields move inversely to the price of the debt.

With equities at record high levels, investors continue to run back into traditional assets. December’s market rally has also come as yields bounce back, with both stocks and bond yields benefiting ever since the U.S. and China announced a phase one trade agreement earlier this month. The two countries are in the process of translating the deal, aiming to sign it in early January.

In a regular press briefing on Thursday, the Chinese Commerce Ministry said China is in close touch with the U.S. on signing the initial trade pact. President Donald Trump said Tuesday the deal is “getting done,” adding there will be a signing ceremony with Chinese leader Xi Jinping.

No auctions are scheduled for Friday.


Company: cnbc, Activity: cnbc, Date: 2019-12-27  Authors: michael sheetz spriha srivastava, michael sheetz, spriha srivastava
Keywords: news, cnbc, companies, trading, treasury, trade, holiday, deal, signing, chinese, lower, yield, traded, yields, tick, bond


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Dollar firm against most majors in holiday-lulled trading

The dollar edged higher against the euro in holiday-thinned trading on Tuesday, ahead of the Christmas holiday, while the British pound looked set to snap a five-day streak of losses against the U.S. currency. “The U.S. dollar is showing a firmer profile against most of the major currencies,” Chandler said. The dollar index, which measures the greenback against six major currencies, was up 0.06% at 97.715. The Australian dollar, while about flat on the day against the dollar, remained close to a


The dollar edged higher against the euro in holiday-thinned trading on Tuesday, ahead of the Christmas holiday, while the British pound looked set to snap a five-day streak of losses against the U.S. currency.
“The U.S. dollar is showing a firmer profile against most of the major currencies,” Chandler said.
The dollar index, which measures the greenback against six major currencies, was up 0.06% at 97.715.
The Australian dollar, while about flat on the day against the dollar, remained close to a
Dollar firm against most majors in holiday-lulled trading Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-12-24
Keywords: news, cnbc, companies, currencies, holidaylulled, majors, dollar, trading, pound, firm, chandler, measures, day, yuan, traded, trade


Dollar firm against most majors in holiday-lulled trading

The dollar edged higher against the euro in holiday-thinned trading on Tuesday, ahead of the Christmas holiday, while the British pound looked set to snap a five-day streak of losses against the U.S. currency.

Against the dollar, the euro was 0.05% lower.

“The holiday has already shut several markets, and those that are open are lightly traded,” Marc Chandler, chief market strategist at Bannockburn Global Forex in New York, said in a note.

“The U.S. dollar is showing a firmer profile against most of the major currencies,” Chandler said.

The dollar index, which measures the greenback against six major currencies, was up 0.06% at 97.715.

The dollar, up about 1.6% for the year as measured by the dollar index, has broadly benefited during bouts of risk aversion – because it is considered a safe-haven currency – and when markets have rallied, because the U.S. economy is outperforming other parts of the world.

However, a recent cooling of trade-related tensions between the United States and China, following an interim trade agreement earlier this month, has led investors to favor trade-sensitive currencies over the greenback.

The Australian dollar, while about flat on the day against the dollar, remained close to a five-month high against the greenback.

The Aussie tends to do well when optimism grows over global trade and China’s economy.

China’s yuan was about flat on the day after Premier Li Keqiang said the government was considering more measures to lower corporate financing costs and hinted at “targeted” cuts in banks’ reserve requirement ratio. The offshore yuan last traded at 7.008.

The Canadian dollar was trading 0.08% lower against the greenback at 1.3154 to the U.S. dollar, or 75.99 U.S. cents, a day after data showed Canada’s economy unexpectedly shrank by 0.1% in October.

Sterling, which has fallen against the dollar for five straight days, as its post-election rally floundered amid growing anxiety around the possibility of a hard and chaotic Brexit in the coming months, steadied on Tuesday.

Sterling was up 0.13% at $1.295. The pound, which had surged after Boris Johnson’s Conservative Party won a majority in the UK general election on Dec. 12, has given up all those gains and some more.

“We suspect that the bulls have pared their positions amid the buy the rumor sell the fact activity since the election,” Bannockburn’s Chandler said.


Company: cnbc, Activity: cnbc, Date: 2019-12-24
Keywords: news, cnbc, companies, currencies, holidaylulled, majors, dollar, trading, pound, firm, chandler, measures, day, yuan, traded, trade


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Macao’s gaming revenue could grow to $100 billion: Ossolinski Holdings

Macao’s gaming revenue could grow to $100 billion: Ossolinski HoldingsMatthew Ossolinski of Ossolinski Holdings says Macao’s gaming market could “easily top” $100 billion in the next decade, up from around $37 billion now. He also says his top Macao picks include Wynn Macau traded in Hong Kong and Melco traded in the U.S.


Macao’s gaming revenue could grow to $100 billion: Ossolinski HoldingsMatthew Ossolinski of Ossolinski Holdings says Macao’s gaming market could “easily top” $100 billion in the next decade, up from around $37 billion now.
He also says his top Macao picks include Wynn Macau traded in Hong Kong and Melco traded in the U.S.
Macao’s gaming revenue could grow to $100 billion: Ossolinski Holdings Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-12-20
Keywords: news, cnbc, companies, 100, revenue, billion, picks, melco, ossolinski, macaos, traded, grow, wynn, holdings, gaming


Macao's gaming revenue could grow to $100 billion: Ossolinski Holdings

Macao’s gaming revenue could grow to $100 billion: Ossolinski Holdings

Matthew Ossolinski of Ossolinski Holdings says Macao’s gaming market could “easily top” $100 billion in the next decade, up from around $37 billion now. He also says his top Macao picks include Wynn Macau traded in Hong Kong and Melco traded in the U.S.


Company: cnbc, Activity: cnbc, Date: 2019-12-20
Keywords: news, cnbc, companies, 100, revenue, billion, picks, melco, ossolinski, macaos, traded, grow, wynn, holdings, gaming


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Asia stocks edge higher as investors await RBA minutes

Stocks in Asia traded higher Tuesday morning as sentiment continues to be buoyed by a recent phase one trade deal reached between Beijing and Washington. In Japan, the Nikkei 225 added 0.51% in early trade while the Topix index gained 0.43%. Meanwhile, shares in Australia edged higher in morning trade, as the S&P/ASX 200 rose fractionally. Overall, the MSCI Asia ex-Japan index traded 0.1% higher. Investors will await the release of the Reserve Bank of Australia’s minutes from its December moneta


Stocks in Asia traded higher Tuesday morning as sentiment continues to be buoyed by a recent phase one trade deal reached between Beijing and Washington.
In Japan, the Nikkei 225 added 0.51% in early trade while the Topix index gained 0.43%.
Meanwhile, shares in Australia edged higher in morning trade, as the S&P/ASX 200 rose fractionally.
Overall, the MSCI Asia ex-Japan index traded 0.1% higher.
Investors will await the release of the Reserve Bank of Australia’s minutes from its December moneta
Asia stocks edge higher as investors await RBA minutes Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-12-17  Authors: eustance huang
Keywords: news, cnbc, companies, index, edge, traded, investors, rba, higher, rose, minutes, await, policy, morning, trade, stocks, shares, bank, monetary, asia


Asia stocks edge higher as investors await RBA minutes

Stocks in Asia traded higher Tuesday morning as sentiment continues to be buoyed by a recent phase one trade deal reached between Beijing and Washington.

In Japan, the Nikkei 225 added 0.51% in early trade while the Topix index gained 0.43%. The Kospi in South Korea also rose 0.35% as shares of industry heavyweight Samsung Electronics and SK Hynix both jumped by more than 1.5% each.

Meanwhile, shares in Australia edged higher in morning trade, as the S&P/ASX 200 rose fractionally.

Overall, the MSCI Asia ex-Japan index traded 0.1% higher.

Investors will await the release of the Reserve Bank of Australia’s minutes from its December monetary policy meting, where the central bank opted to leave the cash rate unchanged at 0.75%.

“The surprise in November was that the Minutes, unlike the earlier post-meeting statement, revealed that the Board ‘agreed that a case could be made to ease monetary policy’, but chose to stay on hold and wait for ‘another full assessment,'” Ray Attrill, head of foreign exchange strategy at National Australia Bank, wrote in a note.

“Whether or not they repeat this phrase, implying an active discussion of a potential rates cut, would be market moving, vis-a-vis expectations for a cut when the RBA returns in February, but the essential message is expected to be that a pause for assessment (of the impact of this year’s three cuts) is warranted,” Attrill said.


Company: cnbc, Activity: cnbc, Date: 2019-12-17  Authors: eustance huang
Keywords: news, cnbc, companies, index, edge, traded, investors, rba, higher, rose, minutes, await, policy, morning, trade, stocks, shares, bank, monetary, asia


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European stocks soar on US-China deal hopes; UK stocks rally on election result

European stocks surged Friday after news that the U.S. and China have reached a phase one trade deal in principle, while the U.K.’s ruling Conservative Party won a commanding majority in the general election. The pan-European Stoxx 600 traded around 1.5% higher by the afternoon, with travel and leisure stocks soaring 3.8% to lead gains as all sectors and major bourses traded in positive territory. Retail stocks added 3.4% while both banks and basic resources each gained 2.6%. The Donald Trump ad


European stocks surged Friday after news that the U.S. and China have reached a phase one trade deal in principle, while the U.K.’s ruling Conservative Party won a commanding majority in the general election.
The pan-European Stoxx 600 traded around 1.5% higher by the afternoon, with travel and leisure stocks soaring 3.8% to lead gains as all sectors and major bourses traded in positive territory.
Retail stocks added 3.4% while both banks and basic resources each gained 2.6%.
The Donald Trump ad
European stocks soar on US-China deal hopes; UK stocks rally on election result Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-12-13  Authors: elliot smith
Keywords: news, cnbc, companies, trade, president, party, result, soar, rally, european, election, uschina, stocks, phase, hopes, deal, traded, won, reached


European stocks soar on US-China deal hopes; UK stocks rally on election result

European stocks surged Friday after news that the U.S. and China have reached a phase one trade deal in principle, while the U.K.’s ruling Conservative Party won a commanding majority in the general election.

The pan-European Stoxx 600 traded around 1.5% higher by the afternoon, with travel and leisure stocks soaring 3.8% to lead gains as all sectors and major bourses traded in positive territory. Retail stocks added 3.4% while both banks and basic resources each gained 2.6%.

The Donald Trump administration has reached a phase one deal with Beijing, pending approval from the president, three sources close to the talks told CNBC on Thursday. European equities had experienced a late bounce during Thursday’s session after the president tweeted that a deal was close.

Back in Europe, U.K. Prime Minister Boris Johnson’s Conservative Party has won a commanding majority in the country’s general election, granting Johnson the power to drive through his Brexit deal and take the U.K. out of the EU before the January 31 deadline. The result is the party’s biggest election win since 1987.

Asian stocks jumped on the U.S.-China trade news, led by a 2.57% leap for Hong Kong’s Hang Seng index while Japan’s Nikkei 225 added 2.55% and mainland Chinese shares all posted strong gains.

Sterling was up 1.85% against the dollar to trade at around $1.3406 on Friday morning as markets reacted positively to the prospect of greater certainty around Brexit.


Company: cnbc, Activity: cnbc, Date: 2019-12-13  Authors: elliot smith
Keywords: news, cnbc, companies, trade, president, party, result, soar, rally, european, election, uschina, stocks, phase, hopes, deal, traded, won, reached


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Asia stocks jump as investors await signing of phase one US-China trade deal

South Korea’s Kospi also saw robust gains as it traded 1.26% higher, with shares of chipmaker SK Hynix surging more than 3%. Japanese stocks surged in early trade. The Nikkei 225 gained 2.09% as shares of index heavyweight Fast Retailing soared more than 2%. Shares in Asia jumped in Friday morning trade following news that Washington and Beijing have agreed to a phase one trade deal in principle, pending U.S. President Donald Trump’s approval. The U.S. dollar index, which tracks the greenback ag


South Korea’s Kospi also saw robust gains as it traded 1.26% higher, with shares of chipmaker SK Hynix surging more than 3%.
Japanese stocks surged in early trade.
The Nikkei 225 gained 2.09% as shares of index heavyweight Fast Retailing soared more than 2%.
Shares in Asia jumped in Friday morning trade following news that Washington and Beijing have agreed to a phase one trade deal in principle, pending U.S. President Donald Trump’s approval.
The U.S. dollar index, which tracks the greenback ag
Asia stocks jump as investors await signing of phase one US-China trade deal Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-12-13  Authors: eustance huang
Keywords: news, cnbc, companies, tariffs, shares, deal, index, washington, traded, await, dollar, investors, signing, trade, phase, jump, trumps, asia, surging, stocks, uschina


Asia stocks jump as investors await signing of phase one US-China trade deal

South Korea’s Kospi also saw robust gains as it traded 1.26% higher, with shares of chipmaker SK Hynix surging more than 3%.

Meanwhile, the Bank of Japan’s “tankan” survey released Friday showing business confidence among the country’s large manufacturers diving to its lowest level in more than six years .

Japanese stocks surged in early trade. The Nikkei 225 gained 2.09% as shares of index heavyweight Fast Retailing soared more than 2%. The Topix index added 1.63%.

Shares in Asia jumped in Friday morning trade following news that Washington and Beijing have agreed to a phase one trade deal in principle, pending U.S. President Donald Trump’s approval.

The moves came amid U.S.-China trade optimism. The White House has offered to scrap the next round of tariffs on Chinese exports to the U.S. that are set to take effect on Sunday, sources told CNBC on Thursday. Washington has also proposed slashing existing duties on $360 billion in Chinese products by 50%.

“It is important to realize that there still hasn’t been any official announcements but between Trump’s tweets and reports by the media, there’s more reason to believe that minimally, tariffs will be delayed,” Kathy Lien, managing director of foreign exchange strategy at BK Asset Management, wrote in an overnight note.

“As we’ve learned the hard way, (Trump’s) attitude and decisions can change last minute so until he makes an official announcement which must occur before December 15th, the tariffs could still be be imposed,” Lien warned.

Movements in the British pound were also watched on Friday, with the British currency surging 2.26% to $1.346 after an exit poll showed U.K. Prime Minister Boris Johnson’s Conservative Party winning a clear majority of parliamentary seats in Thursday’s general election.

Overnight stateside, stocks on Wall Street rose amid the trade optimism. The S&P 500 gained 0.9% to see a record close of 3,168.57. The Nasdaq Composite also finished at an all-time closing high, adding 0.7% to 8,717.32. The Dow Jones Industrial Average closed 220.75 points higher at 28,132.05.

The U.S. dollar index, which tracks the greenback against a basket of its peers, was last at 97.397 after earlier seeing highs above 97.2.

The Japanese yen, often seen as a safe-haven currency in times of market uncertainty, traded at 109.37 against the dollar after weakening sharply from levels below 108.6 yesterday. The Australian dollar changed hands at $0.6918 after rising from levels below $0.688 in the previous session.


Company: cnbc, Activity: cnbc, Date: 2019-12-13  Authors: eustance huang
Keywords: news, cnbc, companies, tariffs, shares, deal, index, washington, traded, await, dollar, investors, signing, trade, phase, jump, trumps, asia, surging, stocks, uschina


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