|Day's range||24,013.75 - 24,115.95|
|52-week range||20,110.76 - 24,115.95|
The United States removed China from a list of countries considered currency manipulators just two days before top trade negotiators for Washington and Beijing signed a key “Phase One” trade deal, the Treasury Department announced on January 13.
Other Chinese economic data released alongside the GDP numbers showed growth in industrial output and retail sales for the month of December. Analysts read the data from Beijing positively, although there was still some caution about the partial trade deal with the U.S.
Tokyo shares closed higher on Friday after US markets finished at new record highs thanks to bright corporate earnings and a weak yen that also encouraged investors. Tokyo shares opened higher, buoyed by the strength in US shares which continue to climb to fresh records. "A weak yen is also encouraging investors to buy shares especially in auto and other exporters," Yoshihiro Okumura, general manager at Chibagin Asset Management, told AFP.
Global stocks rose Friday, seemingly buoyed by high spirits on Wall Street, as new data suggested China's economic slowdown may have stabilized and Washington and Beijing signed a trade deal. European indexes were broadly higher, while markets in Shanghai, Tokyo and Hong Kong closed with gains, after the U.S.'s S&P 500 hit a new high the day before. China's economic growth of 6.1% last year was the lowest since 1990 but forecasters pointed to improved activity in December.
The Australian share market surged into record territory on Thursday, passing the 7000-point milestone for the first time ever. The Bank of Japan is expected to keep monetary policy steady next week.
Global markets were subdued Thursday after the signing of a preliminary China-U.S. trade agreement that investors hope will bring better relations between the world's two biggest economies. U.S. President Donald Trump and China's chief negotiator, Liu He, signed the “Phase 1" deal on Wednesday before a group of corporate executives and reporters at the White House. The pact eases some sanctions on China.
Tokyo's benchmark Nikkei index closed marginally higher in thin trade on Thursday following the signing of a trade agreement between the US and China that pushed Wall Street to record highs. The Nikkei 225 index added 0.07 percent, or 16.55 points, to 23,933.13, but the broader Topix index lost 0.14 percent, or 2.34 points, to 1,728.72. The Nikkei opened higher after investors cheered gains on Wall Street overnight after the world's two largest economies agreed on the trade deal after almost two years of bitter dispute.
Tokyo's Nikkei index opened marginally higher Thursday as investors digested the signing of a trade agreement between the US and China that pushed Wall Street to record highs. The benchmark Nikkei 225 index added 0.13 percent or 31.74 points to 23,948.32, while the broader Topix index lost 0.01 percent or 0.14 points to 1,730.92 points. Investors cheered gains on Wall Street overnight, when the Dow and S&P closed at all-time highs, as the world's two largest economies agreed on the trade deal after almost two years of bitter disputes.
Global markets are mixed as traders wait for the Phase One deal signing. The details so far suggest the Phase One deal is far less than the market was expecting.
The fact that tariffs are likely to remain in place until after the 2020 U.S. presidential elections is rattling investors along with U.S. Treasury Secretary Steven Mnuchin’s comment that existing tariffs on Chinese goods would stay, pending further talks.
Shares retreated in Asia on Wednesday as conflicting reports raised concerns over the likely outcome of a trade deal to be signed by the U.S. and China. Japan's Nikkei 225 index lost 0.5% to 23,916.58 while the Hang Seng in Hong Kong dropped 0.6% to 28,722.86. The declines followed a mixed session on Wall Street Tuesday as investors parsed the latest indications on trade relations between the two largest economies.
Tokyo stocks closed lower on Wednesday, snapping a three-session winning streak as investors waited for the signing of a US-China trade deal. "A big day today which sees the US and China signing the phase one trade deal," noted Tapas Strickland, director of economics and markets at National Australia Bank. In Tokyo, traders were "in wait-and-see mode ahead of the signing of the US-China trade agreement", Okasan Online Securities said in a note.
Key world equity indexes climbed to new records on Wednesday on hopes a U.S.-China trade deal will reduce harmful tensions, but oil prices slid on doubts the pact will spur world growth and boost crude demand. U.S. President Donald Trump and Chinese Vice Premier Liu He signed a Phase 1 deal that will roll back some tariffs and see China boost purchases of U.S. goods and services, defusing a prolonged conflict between the world's two largest economies. Liu said in remarks at the White House that the United States and China need to step up cooperation, and that the deal benefits both countries and the world.
"A big day today which sees the US and China signing the phase one trade deal," noted Tapas Strickland, director of economics and markets at National Australia Bank. US officials said Tuesday that the trade truce with China set to be signed on Wednesday did not include a deal to roll back tariffs imposed on most Chinese goods. There is also a push involving the European Union and Japan for stronger global rules against government subsidies that distort trade, a practice China has long been accused of exploiting.
The film No Dorai is based on the inspirational story of Bangladesh’s first competitive female surfer, who beat most of her male rivals. Director Tanim Rahman was busy promoting No Dorai — titled Dare to Surf for international markets — when he was served with a legal notice on December 10 that led to the withdrawal of the film from cinemas in the cities of Dhaka and Chattagram, where it had been showing since November 29. The film’s main character is named Ayesha, the name — sometimes written as Aisha — of one of the wives of Mohammed, the chief prophet and central figure of Islam.
"The weak yen is a positive factor for sure," said Toshikazu Horiuchi, a broker at IwaiCosmo Securities. "Market sentiment will remain strong if the dollar stays at the 110 yen level," Horiuchi told AFP. The yen has fallen as safe-haven buying waned with the US decision to no longer designate China a currency manipulator, a further sign of easing tensions between the two countries.
Global stocks mostly edged lower on Tuesday as investors looked to the signing of a trade deal between the U.S. and China as well as upcoming corporate earnings reports. France's CAC 40 was down 0.3% at 6,015, while Germany's DAX shed 0.2% to 13,429. Britain's FTSE 100 dropped 0.2% as well, to 7,599.
Australian shares hit record highs on Tuesday, powered by gains in financial and mining sectors, as optimism over a planned signing of a preliminary Sino-U.S. trade deal lifted investor spirits.
Tokyo stocks opened higher on Tuesday as risk appetite picked up on a cheaper yen and advances on Wall Street, ahead of the planned signing of a China-US trade pact. "Expectations of improved US-China relations are providing a tailwind," said Makoto Sengoku, market analyst at Tokai Tokyo Research Institute. The Dow Jones Industrial Average also advanced 0.3 percent two days before President Donald Trump is due to sign a "phase one" agreement with Beijing.
China’s blue-chip index closed at a near 2-year high on Monday, amid strength in technology shares, as investors turned optimistic ahead of the signing of the trade deal.
Bond yields edged higher while a gauge of global equity markets hit a record high on Monday, lifted by optimism over the planned signing this week of a U.S.-China trade deal and hopes the start of the U.S. corporate earnings season will not disappoint. Gold prices fell almost 1% ahead of the signing at the White House on Wednesday of the Phase 1 trade deal and as a de-escalation in U.S.-Iran tensions in the Middle East reduced bullion's safe-haven appeal. U.S. and euro zone government bond yields rose as the trade deal marks a major step in ending a dispute that has cut global growth and boosted demand for such safe-haven assets as bonds, gold and currencies like the Japanese yen and Swiss franc.
It is late October in Jonesboro, Arkansas, a long way from the White House and a long way from the trade war. To launch the Anhui, China-based company’s 125,000 sq ft facility in Jonesboro, southern businessmen and their new Chinese colleagues formed an awkward line on stage behind a red ribbon, each holding a pair of golden scissors and looking at each other for the cue to make the cut. Local politicians were presented with gifts from Anhui, including a traditional painting of galloping horses — a Chinese metaphor for prosperity and success — while a giant screen played a video of factory workers in China performing a choreographed marching band routine.
The S&P 500 fell 9.35 points, or 0.3%, to 3,265.35 from its record set Thursday. “I don't think today's report was a big needle mover for the market or for Fed policy,” said Liz Ann Sonders, chief investment strategist at Charles Schwab. It’s a sharp turnaround from earlier, when the S&P 500 seemed to be heading for just its third weekly loss in the last 14 as worries rose about a possible U.S.-Iran war.