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Asian stocks record red opening and resumption of trade talks

2019-07-29 12:41 am | Resource: News | No Views : 45

Asian stocks record red opening and resumption of trade talks

Asian stocks are set to fall on Monday as US-China talks resume in Beijing later this week amid expectations of a major breakthrough. The US-China trade talks are due to resume this week, with a trade delegation from Washington scheduled to travel to Washington. China on Monday for negotiations with officials in Beijing. However, expectations of a major breakthrough are low, as National Economic Council director Larry Kodlo told CNBC last Friday that he "does not expect any big deal."

Japan's retail sales rose 0.5% year-on-year in June

Japan's retail growth rate was 0.5 percent in June from the same month in 2018, according to the latest report released by the Ministry of Economy, Trade and Industry on Monday. On a monthly basis and seasonally adjusted, retail sales figures were largely unchanged, higher than the expected 0.3% decline.

Machinery and equipment recorded the biggest rise, rising 5.6% year-on-year in June, followed by textiles, clothing and accessories, with sales up 4.2%. The biggest drop in sales was observed in fuel, which fell by 3.9% per year, while general cargo fell by 2.6%

Asian Stocks
Japan's Nikkei 225 futures contract was lower, with the Nikkei index futures contract in Chicago at 21,645, compared with the closing of the latest index at 21658.15.
Shares in Australia were about to fall. The SPI futures contract was at 6,750.0, compared with the recent S & P / ASX 200 closing at 6,793.40.

Meanwhile, Singapore's DBS Group posted a 17 percent rise in second-quarter profit of $ 1.6 billion ($ 1.2 billion) ahead of the opening of the market on Monday, up from $ 1.37 billion a year earlier, beating estimates.

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