Asian Stocks Start A Positive Week
The first session of the week was positive on Monday, boosted by investors’ optimism about trade talks among the world’s biggest economists, which overshadowed China’s growth data, which showed the slowest growth rate for the world’s second-largest economy in 2018 since 1990, To 6.8% in 2017.
US President Donald Trump said he had made progress on a trade deal with China, saying he was considering raising tariffs. “Things are going well with China and with trade,” he told reporters at the White House. Chinese Vice Premier Liu Hu is visiting the United States in the last two days of this month in the second round of trade talks between Washington and Beijing.
In the same context, we followed last Friday the report that China is making offers to get rid of the imbalance in the US trade, including a six-year round of purchases, increasing imports from America to more than $ 1 trillion, to reduce the trade surplus which reached last year $ 323 billion to zero by 2024, according to officials familiar with the negotiations told Bloomberg news agency with their students not to be named.
This came after the report on Thursday that US Treasury Secretary Stephen Manuchen discussed raising some or all tariffs on Chinese imports and working on a proposal to reverse tariffs in the second round of US trade talks, According to the Wall Street Journal citing people familiar with the internal deliberations.
“There is no discussion about raising tariffs now,” US Treasury Department spokesman Emmons Javres told CNN on Thursday. The trade truce approved by President Trump and his Chinese counterpart, Xi Jinping, Months at the beginning of last month will expire in March, and reflect the current developments the possibility of reaching a trade agreement between the two parties during the current quarter.
In contrast, we followed China’s National Bureau of Statistics (NBS) survey of China’s Q4 2018 seasonally adjusted gross domestic product (GDP), which showed growth slowing to 1.5% in line with expectations versus 1.6% in the third quarter. Also compatible with expectations compared to 6.5% in the previous annual reading for the third quarter to reflect the lowest growth rate since the first quarter of 2009.
In the same context, the annual reading of China’s retail sales index for December showed an acceleration of growth to 8.2% compared to last November’s previous forecast and expectations of 8.1%, and the annual reading of industrial production accelerated to 5.7% compared to 5.4% , Compared to expectations of 5.3%, in conjunction with the reading of unemployment rates, which increased to 4.9% compared to 4.8% in November.
Last week, China unveiled plans to boost spending by cutting taxes amid Beijing’s pledge to step up efforts to boost growth, in conjunction with the People’s Bank of China’s work to maintain liquidity levels by injecting a record amount of money into the Chinese banking system through open market operations There, analysts predicted the continued expansion of China’s stimulus during the coming period to combat the slowdown of economic growth.
Japan’s Nikkei 225 index rose 0.45% to 92.67 points, reaching 20,758.74 points. The Nikkei 225 index rose 0.79% to close at 1,569.83.
China’s indices rose, with the CSI 300 rising 0.96% to 30.46 points and reaching 3,198.63. The Shanghai Composite Index rose 0.86% to 22.20 points and reached 2,618.20.
Hong Kong stocks rose 0.53% to 143.43 points to 27,234.24, while South Korea’s Kospi lost 0.09% to 1.85 points to 2,122.43.
To the New Zealand NZX 50 index, which rose 0.49% to 44.15 points, reaching 9,141.86. On the other hand, Australia’s S & P / ASX 200 index gained 0.35%, gaining 20.51 points to reach 5,900.10.