Asian markets mixed, traders await movement on China-US talks

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By MG News | March 06, 2019 at 09:49 AM GMT+05:00

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March 6, 2019: Asian markets fluctuated Wednesday as investors await the latest news on the China-US trade talks, though Australian stocks rose and the local dollar fell as weak economic growth data fueled speculation about a rate cut.

With expectations that Washington and Beijing will eventually strike a tariffs deal already baked into equity prices, analysts say officials will need to provide some clarity on progress to give markets another step up.

But there are warnings that with optimism so high, there could be a lot of disappointment if the final deal does not live up to the hype, or the two sides fail to even reach an agreement.

The talk is that high-level negotiations are ongoing in order to pave the way for a signing ceremony between Donald Trump and Xi Jinping later this month.

"A mid-March meeting ... remains the expected next step, but if trade representatives are unable to agree on the final terms of implementation and enforcement measures, we could see the trade truce rally fade," said OANDA senior market analyst Edward Moya.

In morning trade Shanghai was up 0.7 percent, building on Tuesday's rally that came on the back of China's decision to slash taxes and ramp up spending as leaders look to pep up the stuttering economy.

Mainland Chinese markets are up more than 20 percent this year thanks to trade hopes and following a series of monetary easing measures to kickstart economic growth, which hit its slowest pace in three decades in

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USD RBD PALM OLEIN 998.50 998.50
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