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Most Asian stocks rise after Trump delays tariff approval

2019-09-12 06:36 am | Resource: News | No Views : 34

 Most Asian stocks rise after Trump delays tariff approval

Most Asian stocks rose at the end of the session on Thursday after US President Donald Trump announced that tariffs due on October 1 would be postponed for two weeks as a "goodwill gesture." China is considering resuming purchases of US agricultural products, including soybeans and pork, as well as retaliatory tariffs, according to a Bloomberg report.

Meanwhile, Bank of Japan Governor Haruhiko Kuroda met with Prime Minister Shinzo Abe and "exchanged views", without discussing monetary policy.

Japanese producer prices fell 0.9% in August

On the data front, producer prices in Japan fell 0.9% in August compared with the same month last year, the Bank of Japan said on a monthly basis, producer prices fell 0.3% compared to July. The report also showed that the country's export price index remained unchanged on a monthly basis, while the import price index rose 0.9% from July.

Yahoo Japan offers $ 3.7 billion to buy up to 50.1% stake in Zozo

Yahoo Inc. in Japan said it plans to buy a 50.1% stake in online clothing retailer Zozoz for around 400 billion yen ($ 3.70 billion). The offer comes after CEO Zozo Yosako Meizawa stepped down from the management and noted that he planned to sell about 30% of his 37% stake in the company. "I will assign Zozo to a new president and take my own way," Mizawa said in a tweet.

The two companies said they were in talks to keep Zozo on the list after the takeover.

Asian shares trading
  • The Nikkei 225 rose 1.02% at 7:40 am CET. Cosby was closed in South Korea for a holiday.
  • The Shanghai Composite rose 0.37% at 8:00 am CET
  • Shenzhen Composite Index rose 0.40%.
  • Hong Kong's Hatj Sang is the only indicator in the negative territory, dropping 0.39% at 8:02 CET.
  • Australia's S&P / ASX 200 rose 0.18% at 8:02 CET.

The dollar rose 0.15% against the yen to trade at 107.9835 yen at 8:03 CET.

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