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Asian stocks rise after Wall Street gains

2018-11-08 06:52 am | Resource: News | No Views : 302

Asian equity markets rose on Thursday after Wall Street ended the session strongly in mid-term elections in the United States. US President Donald Trump has assured the public that talks with North Korea are going well and that North Korean leader Kim Jong-un may meet "early next year."

At the same time, Japanese giant Toshiba announced reports to cut costs from $ 1.8 billion later in the day, while Hyundai and Kia are going to invest $ 250 million in the takeover of the company praising the ride.

China's exports and imports are rising more than expected

China's exports and imports rose more-than-expected in October, official data showed on Thursday. Exports grew by 15.6 percent annually, according to the General Administration of Customs. Economists had expected an increase of 11.7 per cent.

At the same time, imports rose 21.4 percent compared with forecasts of 14.7 percent.

As a result, the trade surplus stood at $ 34 billion in October against the projected $ 35.1 billion. In terms of value of the yuan, imports rose by 26.3% and exports rose by 20.1% from last year. The trade surplus stood at 233.6 billion yuan.

Russia calls for closed UN talks on North Korea

The spokesman for the Russian Permanent Mission to the Russian media, Vyodor Strejevski, asked Russia to hold closed-door UN Security Council consultations on sanctions against North Korea on November 8.

"Russia has asked for consultations on the issue of sanctions against North Korea during public consultations tomorrow at the United Nations," he said. "This will be a closed discussion," he said.

Last year, the UN Security Council imposed sanctions on North Korea, after missile tests in the country. Russia and China have called for easing restrictions on Pyongyang after North Korean leader Kim Jong-un vowed to free the Korean peninsula from nuclear weapons.

Toshiba Announces $ 1.8 Billion in Spending

Toshiba Corp is set to unveil its five-year financial plan, which will include a $ 1.8 billion cost cut over the next three years, Nikai said. The Japanese company is expected to announce the strategy in its profit statement later on Thursday.

According to the article, a cost saving measure would be the sale of the British nuclear unit, NuGen. It also plans to cut its workforce by about 7,000 or 5 percent in five years, including about 1,000 workers planning to retire during that period. Toshiba will also offer early retirement packages "especially in low-growth sectors such as power systems,

The company is expected to target an operating margin of at least 10% in fiscal year 2023, but it is also likely to reduce its operating profit forecast for 2018.

Trades for Asian stocks
  • The Nikkei 225 index gained 1.7% at 4:45 am.
  • Korea's Kospi rose 1.49% at 04:46 CET.
  • The Hang Seng Index in Hong Kong rose 0.86% at 04:48 CET.
  • The Shanghai Composite Index rose 0.61% at 4:30 am CET.
  • While the trading Shenzhen Composite Index rose 0.47% in the Green Zone at 4:46 pm CET in.
  • The Australian Standard & Poor's (ASX 200) added 0.81% at 4:50 CET.

The dollar rose 0.13% against the yen at 4:52 am CET, where it was sold at 113.6725.

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