Recently, the stocks in the Asia Pacific were trading higher after developments in the U.S.-China trade battle. Chinese shares surge with the Shanghai Composite adding by 0.8% to 2,923.28 and the Shenzhen Component growing by 0.99% to 9,266.30, whereas the Shenzhen Composite climbed by 1.106% to 1,562.97. Hang Seng index in Hong Kong added by 0.42% during its final hour of trading. The shares of cosmetic producer L’Occitane climbed over 5%, with Nomura advancing the stock to procure. In the meantime, the S&P/ASX 200 in Australia advanced by 0.77% to end at 6,776.70 since most sectors saw gains.
In Japan, the Nikkei 225 index close by 0.41%, higher at 21,709.57, whereas the Topix index surge by 0.4% at 1,575.09. However, in South Korea, the Kospi crashed by 0.91% to close at 2,082.30. The shares of LG Display declined by 3.81% following the firm posted a larger-than-anticipated second-quarter operating loss. The firm also stated it is looking to expand its supplier base in the middle of the ongoing diplomatic battle between Seoul and Tokyo that has seen Japan placing export limitations on important materials to South Korea. In this week, South Korea asked Japan to drop its plan to eliminate the former from its white list of minimum trade limitations.
On a related note, the White House’s Kudlow is hopeful on the U.S.-China trade talks and agriculture buys. Larry Kudlow—White House’s Economic Advisor—called it a good indication that main US officials would be visiting China to discuss reviving stopped trade talks, and said he anticipated Beijing to start purchasing US agriculture products soon. In phone calls with Chinese conciliators, Robert Lighthizer (US Trade Representative) and Steven Mnuchin (Treasury Secretary) had mentioned the need for Beijing to purchase more US agricultural products.