Asian shares rose as US officials struck a positive tone after the first day of talks with China, lifting hopes for a deal that may cool trade tensions. A regional stock gauge rose 0.6%, extending gains from the highest level since November 2021, with negotiations set to resume in London Tuesday. Equity-index futures for the S&P 500 advanced 0.4%. The dollar bounced back and gained against most of its Group-of-10 peers. Bitcoin rose 0.7% to over $109,500, less than 2% shy of a record high. The yen depreciated after the central bank said it’s still some distance away from its inflation goal. While no significant breakthroughs were announced after the first day of trade talks, US officials sounded optimistic about the negotiations. With a key inflation read on tap Wednesday - and the Federal Reserve entering a blackout period before a June 18 interest-rate decision - money managers are wrestling with what could propel the S&P 500 back to a record after the index soared 20% from its April lows. US Commerce Secretary Howard Lutnick said discussions between Washington and Beijing were “fruitful” and Treasury Secretary Scott Bessent cited a “good meeting.” Talks will continue into a second day, according to a US official, as the two sides look to ease tensions over shipments of technology and rare earth elements. The advisers will meet again Tuesday at 10 a.m. in London, the official said. The trade discussion offers another key opportunity for both sides to resolve differences through equal dialogue and negotiation, according to a commentary in the People’s Daily, the flagship newspaper of the Communist Party. Tangible evidence that the tariffs are impacting trade between the two biggest economies came on Monday with data showing Chinese shipments to the US last month had the worst drop in more than five years. Still, stock markets are rallying on optimism the trade tensions will cool down. The MSCI China Index advanced to enter a bull market, trader parlance for a rise of 20% from a recent low. The MSCI Asia Pacific Index gained for a second day Tuesday with chip stocks climbing on AI tailwinds and expectations from the trade talks. South Korean stocks rose for a fifth session. In Japan, Bank of Japan Governor Kazuo Ueda said the central bank is still some distance from its inflation goal in comments that helped accelerate a weakening of the yen. While Ueda also talked down the possibility of any rate cut to boost the economy, the mention of a possible need to offer support for the economy likely gave the impression that the bank’s next move to raise rates will be more distant. The Nikkei-225 index gained almost 1%. Meanwhile, the recent broad weakness in the dollar is shifting attention to several other assets. Platinum surged as the market for the precious metal strains under signs of severe tightness. Last week, silver jumped to a 13-year high and Bitcoin rose for a fifth consecutive day. Separately, Bitcoin and second-ranked cryptocurrency Ether have risen for five straight days, according to data compiled by Bloomberg, with the latter up as much as 5% on Tuesday. US After Hours CASY +8.6% higher on earnings, dividend hike; QTRX +7.9% higher on insider buy; AIRS -11.3% lower on stock offering; SEZL +1% files antitrust lawsuit against SH
Nikkei +0.36% Hang Seng -0.07% CSI -0.50% Shanghai -0.96% Shenzen -1.68%
Eur$ 1.1401 CNH 7.1873 CNY 7.1858 JPY 144.87 GBP 1.3559 CHF 0.8223 RUB 79.1003 TRY 39.2916 WTI$ 65.42 +0.20% Gold 3,311 -0.45% BTC 109,557 +0.72% ETH 2,692 +3.93%
S&P +0.02%% Nasdaq -0.07% EuroStoxx -0.15% FTSE -0.02% Dax -0.01% SMI -0.07%
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