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Most Asian markets advanced on Monday, but investors have closely monitored trade between China and the United States after Donald Trump's optimistic comments on a possible deal were offset by a war of words between his vice President and Xi Jinping.
The mood in the area was a little quieter at the start of the week, providing much needed support after the volatility of seven days ago, with the oil stabilization and moderate fears of the Federal Reserve as to his plans for interest rate hikes.
US markets provided a positive advance after Trump said Friday that Beijing had cleared the way for the resolution of their trade war, which meant it could delay the imposition of a new round. customs duties.
The comments of the president follow the indication of one of its major advisers in the economy that discussions were under way in anticipation of a meeting scheduled for the G20 in Argentina at the end of the month.
However, hopes for a swift agreement were wiped out at the APEC weekend meeting between Mike Pence and Xi about China's economic and regional ambitions, the US vice president said. mocking Beijing's "restriction belt" and a "one-way street" initiative.
Xi defended his plan and attacked Trump 's "protectionist" program for America, saying it was a "short – sighted approach" that was "doomed to". failure".
The profound differences between the two parties meant that the APEC meeting ended without a final communiqué for the first time in its history.
Nevertheless, Asian investors were in a good mood on Monday as they picked up bargains.
At the start of trading, Hong Kong gained 0.5% and Shanghai 0.4% and Tokyo 0.4%.
– Canaries in a coal mine & # 39; –
Seoul gained 0.3% and Taipei, 0.1%, with Manila exceeding 1%.
However, Sydney lost 0.6%, Singapore lost 0.4% and Wellington lost 0.2%.
Comments from senior Fed officials last week also corroborated worries over the global economic outlook, indicating that they perceived signs of a slowdown that could affect their plans to increase costs. loan.
The expectations of the US central bank with a series of hikes until next year, making debt more expensive for investors, have helped bring down global markets this year.
But while the prospect of lower rate hikes was a cause for celebration, Stephen Innes, OANDA's Asia-Pacific Trade Manager, cautioned.
"A break from the Fed during a bullish cycle is a very powerful signal of the type" canary in a coal mine "and could eventually lead to a deeper correction of the US stock markets if the economy American was faltering, "he said.
Oil prices have risen more than 1%, extending their gains since the end of last week after Saudi Arabia, one of the major producers, announced plans to cut production and called on other producers to do the same.
"Hope relies on OPEC Plus (countries) to cut production as oil prices have entered a bear market, dropping more than 20% from the peak reached in early October when Brent reached $ 86 a barrel, "said Margaret Yang Yan, market analyst at CMC. Singapore Markets.
However, concerns over global demand and rising production, as well as the Sino-US trade war, continue to weigh on the product.
On the currency markets, the pound has managed to hold off its decline, while the attention of British President Theresa May focuses on attempts by the latter to convince enough members of her party to reach agreement on Brexit.
– Key figures around 02:30 GMT –
Tokyo – Nikkei 225: up 0.4% to 21,755.46 (pause)
Hong Kong – Hang Seng: up 0.5% to 26,316.14
Shanghai – Composite: up 0.4% to 2,689.86
Pound / dollar: up to 1.2832 USD against 1.2826 USD at 22.00 GMT Friday
Euro / Pound: DOWN to 88.92 pence from 88.99 pence
Euro / dollar: HIGH to $ 1,411 from $ 1,1415
Oil – West Texas Intermediate: up 74 cents to $ 57.20
Oil – Brent: up 72 cents to 67.48 dollars a barrel
London – FTSE 100: 0.3% decrease to 7,013.88 (closing)
New York – Dow: 0.8 per cent increase to 25,290.39 (closing)
