European autos stocks surged on Wednesday after Bloomberg reported, citing sources, that U.S. President Donald Trump plans to delay imposing threatened tariffs on car imports as the White House focuses on its spat with China. The pan-European STOXX 600 closed 0.39% up. The DAX is up 0.90% while London's FTSE 100 is up 0.76% and France's CAC 40 is up 0.62%.
U.S. stocks climbed, advancing for a second consecutive session on hopes that thawing trade tensions will boost the outlook for the world economy. Stocks erased declines from earlier in the day after Treasury Secretary Steven Mnuchin said U.S. negotiators are likely to travel to Beijing soon and reports emerged that the Trump administration is putting off a final decision on whether to impose broad tariffs on automobile and auto-part imports. The Dow Jones Industrial Average rose 115.97 points, or 0.45%, to 25,648.02 and the S&P 500 index gained 16.55 points, or 0.58%, to 2,850.96. The tech-heavy Nasdaq Composite Index outperformed its peers, advancing 87.65 points, or 1.13%, to 7,822.15.
Asian shares steadied on today morning on news that U.S. President Donald Trump is planning to delay tariffs on auto imports, providing much needed relief to markets hit by a flare-up in trade tensions and on weak U.S. and and Chinese economic data. The Chinese and Hong Kong shares show gains. The Shanghai Composite is up 0.27% while the Hang Seng is up 0.17%. The Nikkei 225 fall 0.63%. Te Kospi is down 0.47%. The ASX 200 has gained 0.14%.
Oil prices edged up on today morning to extend gains into a third straight session, as tensions in the Middle East stoked fears of potential disruptions to supply. Brent crude futures were at $72.32 a barrel at 03:01 GMT, up 55cents, or 0.77%, from their last close. Brent closed up 0.7% on Wednesday. U.S. West Texas Intermediate (WTI) crude futures were at $62.54per barrel, up 52 cents, or 0.84%, from their previous settlement. WTI closed up 0.4% in the previous session.
SGX Nifty Futures in Singapore Exchange is trading with a gain of 15.50 points or 0.14% ar11,177.50
Our Markets are expected to open flat with a positive bias on today following positive trend seen in other Global markets.
Shares in Asia closed mixed on today, as the U.S. takes aim at China’s Huawei again, heating up trade tensions further.The Shanghai Composite gained 0.58% and the Hang Seng rose 0.02%. The Nikkei 225 lost 0.59%. The Kospi is down 1.20%. The ASX 200 s up 0.69%.