Canadian Manufacturing

Global shares mixed as U.S., China set to resume trade talks

by Yuri Kageyama, The Associated Press   

Canadian Manufacturing
Exporting & Importing Financing Manufacturing Risk & Compliance Technology / IIoT Public Sector

U.S. markets appeared headed for a subdued open on Thursday, ahead of a new round of talks with Chinese officials

TOKYO – Global shares were mixed on Thursday as Chinese and U.S. trade negotiators prepared for the latest round of talks aimed at ending a tariffs war between the world’s two biggest economies.

Britain’s FTSE gained 0.6 per cent to 7,238, in part due to the falling pound, which tends to benefit the multi-national corporations who trade there. Prime Minister Theresa May made a final effort to save her European Union withdrawal deal after her promise to quit failed to win over lawmakers from Northern Ireland, who object out of concern their province would be treated differently from the rest of the United Kingdom.

Germany’s DAX gained 0.3 per cent to 11,450 and the CAC 40 in France was close to flat at 5,304.

U.S. markets appeared headed for a subdued open, with the future contract for the Dow Jones Industrial Average gaining less than 0.1 per cent at 25,678 and that for the Standard & Poor’s 500 also almost flat at 2,812.

U.S. trade negotiators arrive in China for resumed talks

U.S. trade negotiators arrived in Beijing on Thursday for a new round of talks aimed at ending a tariff war over China’s technology ambitions. Chinese and U.S. officials have suggested that progress has been made toward resolving the conflict, which has disrupted trade in everything from soybeans to medical equipment.

The talks were to begin with a working dinner Thursday and last the entire day Friday. Chinese officials are expected to return to the U.S. in early April.

Meanwhile, markets seem to be taking the prolonged uncertainty over Brexit in stride.

With the countdown to Britain’s departure from the EU looming on Friday and no Brexit deal on hand, the EU last week granted a delay. It said that if Parliament approves the proposed divorce deal this week, the U.K. will leave the EU on May 22. If not, the government has until April 12 to tell the 27 remaining EU countries what it plans to do: leave without a deal, cancel Brexit or propose a radically new path.

In Asia, Japan’s Nikkei 225 lost 1.6 per cent to finish at 21,033.76 and the Shanghai Composite index sank 0.9 per cent to 2,994.94. Australia’s S&P/ASX 200 added nearly 0.7 per cent at 6,176.10. South Korea’s Kospi fell 0.8 per cent to 2,128.10, while Hong Kong’s Hang Seng gained 0.2 per cent to 28,775.21. Shares were mixed in Southeast Asia and fell in Taiwan.

ENERGY: Benchmark U.S. crude fell 72 cents to $58.69 a barrel in electronic trading on the New York Mercantile Exchange. It fell 0.9 per cent to settle at $59.41 a barrel Wednesday. Brent crude, used to price international oils, gave up 77 cents to $66.06 a barrel.


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