Asian stocks advance, China benchmark up 0.42%

Asian stocks advanced on Wednesday after new data showed the U.S. labor market is holding up in the face of tariff uncertainty.

An unexpected increase in U.S. job openings buoyed sentiment as the OECD warned uncertainty is stifling investment and confidence.

On the trade front, U.S. President Donald Trump today described Chinese President Xi Jinping as "extremely hard" to strike a deal with, even as the White House reiterated that the two leaders will talk "very soon."

The Trump administration is actively monitoring China's compliance with the Geneva trade agreement, White House Press Secretary Karoline Leavitt said.

Gold held steady near $3,360 per ounce in Asian trade as the dollar recovered some ground after dropping to six-week lows against a basket of currencies early this week. Oil prices were little changed after two days of gains.

 

China's Shanghai Composite index rose 0.42 percent to 3,376.20 and Hong Kong's Hang Seng index gained 0.60 percent to close at 23,654.03 on trade talk optimism and expectations of more Chinese stimulus.

Powered by Capital Market - Live News