On Friday, most of the Asian stock market indexes increased, which is good news. On August 29, the Chinese government official’s comments had a positive impact on most of the stocks. Gao Feng is the spokesperson of China’s Ministry of Commerce. He stated that China was ready for a constructive dialogue.
This decision affected the Asian as well as global stock markets. As in less than two weeks ago, China imposed tariffs on American goods as a retaliatory measure.
Asian stock markets on Friday
Several Asian stocks improved their positions while others couldn’t follow their footsteps. Japanese stock index, the Nikkei 225 rose by 1.19% and was close to 20,704.37. This happened after the index of Japanese robot maker Fanuc increased by 2.73%.
The TOPIX is another primary Japanese index of the Tokyo Stock Exchange. Its index rose by 1.46% and reached 1,511.86. It is important to remember that both Nikkei 225 and TOPIX indexes are the major indexes of the Tokyo Stock Exchange. Another interesting fact about the Nikkei 225 index is that the Japanese newspaper The Nikkei first calculated its index back in 1950.
On August 29, the stocks in South Korea also increased as well. For example, KOSPI’s index rose by 1.78% to 1,967.79. Meanwhile, the stocks of the chipmaker SK Hynix increased by 5.59%.
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Australian index S&P/ASX 200 rose by 1.49% and was close to 6,604.20.
However, some of the Asian stocks fell after this news, mostly in China. For instance, the shares of mainland Chinese indexes fell on Friday. The Shanghai Composite index decreased by 0.16 % to about 2,886.24. The Shenzhen component index declined by 0.35% to 9,365.68. Another Chinese index the Shenzhen composite fell by 0.744% and was close to 1,579.25.
To sum up, the trade war had a severe impact on the global economy. The stock markets in Asia and elsewhere are trying to cope with problems. Restarting the trade talks is a great idea. However, both sides should work harder to end this dispute as soon as possible.
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