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Asian shares up on trade optimism as Trump hints of Xi talks


Added 06-19-19 04:04:01am EST - “Asian shares were mostly higher Wednesday on optimism about trade after President Donald Trump said he will talk with the Chinese leader later this month in Japan.” - Foxbusiness.com

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Posted By TheNewsCommenter: From Foxbusiness.com: “Asian shares up on trade optimism as Trump hints of Xi talks”. Below is an excerpt from the article.

A currency trader talks near the screens showing the Korea Composite Stock Price Index (KOSPI), left, and the foreign exchange rate between U.S. dollar and South Korean won at the foreign exchange dealing room in Seoul, South Korea, Wednesday, June 19, 2019. Asian shares were mostly higher Wednesday on optimism about trade after President Donald Trump said he will talk with the Chinese leader later this month in Japan.(AP Photo/Lee Jin-man)

Asian shares were mostly higher Wednesday on optimism about trade after President Donald Trump said he will talk with the Chinese leader later this month in Japan.

Japan's benchmark Nikkei 225 added 1.7% to finish at 21,333.87. Australia's S&P/ASX 200 rose 1.2% to 6,648.10. South Korea's Kospi was also up 1.2% at 2,124.06. Hong Kong's Hang Seng gained 2.3% to 28,122.20, while the Shanghai Composite added nearly 1.0% to 2,917.76.

Markets also got a boost after the head of the European Central Bank said it was ready to cut interest rates and provide additional economic stimulus if necessary.

The remarks put the spotlight on the U.S. Federal Reserve, which has its own decision on interest rates scheduled later in the day. Many think the U.S. central bank may be headed for its first interest rate cut in over a decade sometime later this year.

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