Asian Stocks Rise, Sentiment Improves
Asian stocks rose on Tuesday, supported by solid US corporate earnings and signs of easing tensions between Washington and Beijing. Indexes in Japan and Australia rose, while South Korea opened more than one percent higher. US stock futures also pointed to gains. An index of US-listed Chinese companies rose about two point four percent, its best in a week. Gold continued its advance early in the Asian session despite warnings of a potential liquidation.
On Wall Street, the two major US indexes posted their biggest two-day gains since June. About 85 percent of emissions beat earnings estimates, helping ease concerns about the government shutdown. Hopes for progress in trade talks have boosted risk appetite. President Donald Trump has maintained his threat of tariffs if no deal is reached before early November, but plans to meet with President Xi Jinping next week.
Earlier this month, markets faltered when talk of very high tariffs resurfaced. Soybean prices also rallied on hopes of a trade deal that could reopen US exports. In Sydney, shares of key mineral producers surged after the US and Australia signed a cooperation agreement to strengthen access to rare earths and key materials.
Market focus is now on Friday's US inflation data, which was delayed due to the government shutdown. Estimates show core inflation rising 0.3 percent monthly for the third consecutive month, with an annualized rate of around 3.1 percent. Energy is expected to hit the headline figure. This data is crucial for central bank decisions at the end of October, while investors also await earnings reports from major technology companies. The headline news is Asian stocks rising on strong earnings and signs of easing tensions, as markets await inflation and the next policy direction. (asd)
Source: Newsmaker.id
