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Asia markets recover from earlier lows after report that Trump may announce Huawei concessions


Thursday, 10 October 2019 10:05 WIB

Saham AsiaIndeks MSCI Asia Pasific


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Asia stocks pared earlier losses in Thursday morning trade as investors watched for developments on the U.S.-China trade front ahead of high-level negotiations between the two economic powerhouses.

Mainland Chinese stocks edged up in morning trade, with the Shanghai composite up around 0.3% and the Shenzhen component gaining 0.48%. The Shenzhen composite also advanced 0.563%.

The New York Times reported Wednesday evening stateside that U.S. President Donald Trump’s administration is set to grant licenses that would allow American firms to sell nonsensitive supplies to Huawei. Earlier this year, the White House banned sales to the Chinese telecommunications giant, citing national security concerns. The ban was subsequently delayed by the administration to allow American firms to make other arrangements.

Meanwhile, Hong Kong’s Hang Seng index was 0.14% higher.

Elsewhere, the Nikkei 225 in Japan rose 0.39%. The Topix index, however, traded fractionally lower. Core machinery orders in the country fell for the second consecutive month in August, according to Cabinet Office data on Thursday.

In South Korea, the Kospi shed 0.74%. Australia’s S&P/ASX 200 rose 0.11%.

Overall, the MSCI Asia ex-Japan index traded 0.15% higher.

Markets in Taiwan are closed on Thursday for a holiday.

Source: CNBC


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