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Shanghai Composite Rises as Trade Tensions Ease


Friday, 2 November 2018 14:31 WIB

Indeks Shanghai CompositeSaham Cina CSI 300Shanghai composite


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Chinese stocks jumped as President Donald Trump said he had a productive conversation with Chinese President Xi Jinping on trade and North Korea ahead of a highly anticipated meeting planned between the two leaders at the G-20 summit this month.

The Shanghai Composite Index rose for the fourth day, climbing 2.7 percent, or 70.24 to 2,676.48 at close in Shanghai. The move was the biggest since rising 4.1 percent on Oct. 22.

Kweichow Moutai Co. contributed the most to the index gain, increasing 6.6 percent. Weifang Yaxing Chemical Co. had the largest increase, rising 10.1 percent.

Today, 1438 of 1487 shares rose, while 39 fell; all sectors were higher, led by industrial stocks.

CSI 300 Index jumped 3.6% to 3,290.25 at close.

The Chinese yuan strengthened against the U.S. dollar to 6.8870 from 6.9233. The benchmark 10-year bond was little changed at 3.550 percent

The MSCI AC Asia Pacific Index advanced 2.3 percent. The MSCI Emerging Markets Index closed at 997.34, up 2.7 percent

Donald Trump and Xi Jinping expressed optimism ahead of meeting later this month in Argentina, with the U.S. leader saying his Chinese counterpart wants to make a deal to end an escalating trade war.

Xi said he is open to talking with Trump about trade and other issues during the G-20 in Argentina, China Central Television said on Weibo, citing a scheduled phone call between the leaders.

Source: Bloomberg


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