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Asian Markets Rise as Investors Await Trade News; Hong Kong Stocks Rebound

Stock MarketsNov 14, 2019 10:42PM ET
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Investing.com - Asian markets rose in morning trade on Friday as investors awaited updates on the Sino-U.S. trade developments. Hong Kong stocks rebounded after falling for more than 5% so far this week.

China’s Shanghai Composite was little changed at 2,910.01. The Shenzhen Component slipped 0.1%.

White House economic adviser Larry Kudlow said Washington is “getting close” to a trade deal with Beijing. Chinese Ministry of Commerce spokesman Gao Feng confirmed that the two sides are having “deep discussions about a phase one deal,” but said rolling back some of the existing tariffs is key to reaching an agreement.

“The trade war was begun with adding tariffs, and should be ended by cancelling these additional tariffs. This is an important condition for both sides to reach an agreement,” Feng said Thursday at a weekly press conference.

Hong Kong’s Hang Seng Index gained 0.3%. Political unrest remained in focus. Overnight, the U.S. Senate brought the Hong Kong Human Rights and Democracy Act under an expedited process that would allow for quick passage for the bill.

The bill could pass as early as next week, according to a Senate aide.

“The world witnesses the people of Hong Kong standing up every day to defend their long-cherished freedoms against an increasingly aggressive Beijing and Hong Kong government,” U.S. Senator Marco Rubio said in a statement. “Now more than ever, the United States must send a clear message to Beijing that the free world stands with Hong Kongers in their struggle.”

In response, the Chinese Foreign Ministry on Thursday warned of retaliation if the measure passes Congress.

Hong Kong has largely been paralyzed since this week. In the past four days, protesters shutdowns transportations during morning rush hours, while police fired tear gas outside major office buildings.

Japan’s Nikkei 225 traded 0.8% higher. South Korea’s KOSPI rose 1.0%.

Down under, Australia’s S&P/ASX 200 climbed 0.8%.

Asian Markets Rise as Investors Await Trade News; Hong Kong Stocks Rebound
 

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Comments (4)
john doe
john doe Nov 15, 2019 8:07AM ET
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Whats the big deal of letting  hong kong people vote for whatever president they want. don't they know that elections are rigged anyways regardless of what people vote for. All the protesting is ******the countries economy. Hong Kong will end up bankrupt over this. They are losing a lot of money every day from all this protesting. The only way it ends is let them vote for whoever they want. I just don't seeing the protesting stop unless they get to at least vote. In america if we didn't get to vote for our president it would be worse. But US is smart they make it seem like our votes count so everyones happy.
john doe
john doe Nov 15, 2019 8:01AM ET
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its says the shanghai stock exchanged ended in the red.
Jack Zhang
Jack_A Nov 14, 2019 11:27PM ET
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“The world witnesses the people of Hong Kong standing up every day to defend their long-cherished freedoms against an increasingly aggressive Beijing and Hong Kong government,” LoL
Kenny Venezia
Kenny Venezia Nov 14, 2019 11:05PM ET
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LOL! I'm rolling on the floor.
 
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