Trade-sensitive technology stocks rose 1.1 percent, adding the most to the S&P 500. Semiconductor companies, which derive much of their revenue from China, especially climbed. The Philadelphia SE Semiconductor Index advanced 1.9 percent.
Tuesday, 22nd October, 2019
China stocks closed up on hopes China and the United States could sign a trade deal and that Beijing would continue its policy support for the economy. The blue-chip CSI300 index rose 0.3 percent, to 3,880.84, while the Shanghai Composite Index added 0.1 percent to 2,939.62. Hong Kong stocks closed flat on Monday, amid concerns around political protests in the city, while investors also waited for more details on the potential Sino-US trade deal. The Hang Seng index was unchanged at 26,725.68, while the China Enterprises Index was also flat at 10,543.41. Around the region, MSCI's Asia ex-Japan stock index was firmer by 0.28 percent, while Japan's Nikkei index closed up 0.25 percent.
European shares broke a three-day run of losses as investors stuck to hopes that Britain will avoid a disorderly exit from the European Union, while positive corporate updates and comments on US-China trade talks added to the upbeat mood. The pan-European STOXX 600 index ended the session 0.6 percent higher, barely budging on news House of Commons speaker John Bercow refused to allow a vote on Prime Minister Boris Johnson's Brexit divorce deal, saying the same issue had been discussed on Saturday. London's blue-chip FTSE 100 was up 0.2 percent, lagging the broader markets due to a strong pound, while the FTSE mid-cap index of domestically focused stocks closed up 0.4 percent. Germany's DAX jumped 0.9 percent, leading gains among major regional indexes.
Trade-sensitive technology stocks rose 1.1 percent, adding the most to the S&P 500. Semiconductor companies, which derive much of their revenue from China, especially climbed. The Philadelphia SE Semiconductor Index advanced 1.9 percent. The economically sensitive energy and financial sectors led percentage gains on the S&P 500. Energy shares gained 1.9 percent while financials rose 1.4 percent. The Dow Jones Industrial Average rose 57.44 points, or 0.21 percent, to 26,827.64, the S&P 500 gained 20.52 points, or 0.69 percent, to 3,006.72 and the Nasdaq Composite added 73.44 points, or 0.91 percent, to 8,162.99.
Ahead of the local open SPI futures are 20 points higher at 6639.
|Foreign Equities||Close||Change||% Change|
|Dow Jones (US)||
|FTSE 100 Index||7164||13||0.18|
|Nikkei 225 (Japan)||22549||56||0.25|
|Oil - West Texas Crude||/t 3mth||53.5||-0.4||-0.67|
|Currency||Close||Pts Change||% Change|
|$A vs $US||0.6865||0.0021||0.31|
|$A vs GBP||0.5294||-0.0012||-0.23|
|$A vs EUR||0.6157||0.0023||0.37|
|$A vs YEN||74.54||
|$A vs NZD||1.0713||-0.0002||-0.02|