Asian stock indexes rebound on easing trade war concerns

Stock indexes in Asia were mainly higher on Tuesday following a rebound in Wall Street as concerns over a potential trade war between China and the US continued to ease.

Hong Kong's Hang Seng Index closed in green territory, adding 0.86 percent on the back of gains seen in the technology and telecommunications sectors.

Mainland benchmark Shanghai composite rose 1.05 percent, with the Shenzhen composite following that same trend gaining 1.04 percent in the session.

Tokyo’s Nikkei 225 benchmark ended 2.65 percent higher, adding 550 points to 21,317. All sectors of the broader Topix Index edged up, pushing the benchmark 2.74 percent higher.

In South Korea, the Kospi was also trading in green territory, rising 0.61 percent at 2,452.06. Heavyweight names such as Samsung Electronics and Hyundai Motors offered support.

In Australia, the ASX 200 closed 0.72 percent higher despite gold producers were down for the day as easing tensions in the political front boosted interest for risky assets.

In the previous session, market sentiment turned around the corner after the Wall Street Journal reported the US and China are holding negotiations to avoid a trade war.

On this matter, Treasury Secretary Steven Mnuchin said Monday he remains “cautiously hopeful” that the United States would come to an agreement with China to avert tariffs on at least $50 billion of Chinese goods.

“We’re having very productive conversations with them, [...] when discussing talks with China. “I’m cautiously hopeful we reach an agreement.”

<<< Stock Indexes >>>

Australia ASX S&P +42.30 +0.72% 5,943.70

Shanghai Composite +32.93 +1.05% 3,166.65

Nikkei 225 +551.22 +2.65% 21,317.32

TSEC 50 Index +146.74 +1.35% 10,986.79

<<< Europe >>>

EU’s business and consumer survey for March at 08:00 GMT. Also, Eurozone’s business climate, consumer confidence, consumer inflation expectation and selling price expectations for March are all due for release as of 09:00 GMT.

<<< United States >>>

In today’s session, the S&P/CS HPI Composite - 20 n.s.a. for January is due for release as of 13:00 GMT, with a forecasted year-over-year rate of 6.1 percent.

The Conference Board will present its consumer confidence indicator for March at 14:00 GMT, with 130.0 points eyed. No relevant news were released on Monday.

FortFS