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Asian stocks rose across all spaces on Monday as buying took hold after a pause on the U. S. national holiday.
Analysts said optimism may also be driven by expectations that the United States could cut Chinese tariffs, a welcome move that would also help keep inflation in check.
China’s Ministry of Commerce said Tuesday that Vice Premier Liu He held talks with Treasury Secretary Janet Yellen on coordinating economic policy between the two largest economies and maintaining the stability of supply chains.
In a statement, it also said the Chinese side “expressed fear of issues such as the removal of more price lists and sanctions imposed through the United States on China and the just remedy of Chinese companies. “The two sides agreed to continue their discussions, he said.
Investors were also encouraged by the lifting of restrictions similar to the coronavirus pandemic in the region, Japan, which had exploded with foreign tourists before the pandemic.
“Yesterday’s quiet economic calendar is causing sentiments to focus on the only relief from an imaginable U. S. tariff reduction decision. Rong, IG’s market strategist in Singapore, in a commentary.
But the dangers persist due to inflation and slowing economic activity in some countries. A resurgence of COVID-19 infections is also looming in Europe, the United States and parts of Asia, increasing the risk of returning to pandemic precautions.
Japan’s benchmark Nikkei 225 index rose 1. 0% in morning trading to 26,404. 90. South Korea’s Kospi jumped 1. 8% to 2,342. 24. Hong Kong’s Hang Seng gained 0. 8% to 21,997. 04, while the Shanghai Composite rose 0. 1% to 3,409. 95.
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When the bank raised the rate by a quarter of a percentage point at its monthly board meeting in May, it was the first rate hike in more than 11 years.
Global investors are concerned about rising inflation and the option that higher interest rates could lead to a recession in some economies. the trade closed monday for Independence Day.
Minutes of the Federal Reserve’s most recent policy meeting will be released Wednesday and may give guidance on long-term policy.
Dow Jones and S Futures
Stocks ended the week with a rally, the S
In the first part of this year, the S
The threat of a recession looms as the U. S. Federal Reserve looms. The U. S. aggressively raises interest rates. The Federal Reserve is raising rates to intentionally slow the economic expansion to calm inflation, but it can also potentially pass and cause a recession.
In Germany, Chancellor Olaf Scholz on Monday gathered key representatives of employers and industrial unions in his Berlin office to seek tactics to deal with the impact of emerging costs and prevent an inflationary spiral in Europe’s largest economy.
In energy trading, benchmark U. S. crude rose $1. 87 to $110. 30 a barrel. It gained $2. 67 on Friday to $108. 43 a barrel. Trading closed on Monday. Brent crude, the foreign standard, lost 3 cents to $113. 47 a barrel.
In forex trading, the U. S. The U. S. rose to 136. 15 Japanese yen from 135. 69 yen. The euro cashed in $1. 0434, up from $1. 0423.
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Yuri Kageyama is on Twitter https://twitter. com/yurikageyama
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