hero image

Major stocks were slightly higher this morning after investors melting trade tensions between China and the United States. The Dow Jones Industrial Average climbed 70 points after a positive opening of more than 94 points. The Nasdaq Composite and S&P 500 both were also higher this Thursday.

Most investors are becoming very optimistic about the trade prospect between the two largest economies. As per reports of Reuters, Chinese companies have bought about 1.5 million tons of the U.S. soybeans, which even proved to be a major purchase in more than six months for the U.S. soybeans.

On the other hand, Asian stocks also traded higher rallying gains on Wall Street. Over in China, markets opened mix but ended higher as the Shanghai Composite jumped 1.23 percent to close at 2,634.0491 and the Shenzhen Composite traded 1.106 percent higher with 1,360.9222. The Hang Seng index of Hong Kong increased 1.18 percent to close the session at 26,495.67.

The Nikkei 225 of Japan inched up 0.99 percent to end at 21,816.19 while the Topix index gained 0.62 percent and closed at 1,616.65. In South Korea, the Kospi index rose 0.62 percent to 2,095.55. The ASX 200 index of Australia closed 0.14 percent to 5,661.6.

In Australia, there were big moves in the market. Hutchinson Telecommunication shares plunged 21.43 percent and TPG Telecom dropped by 16.67 percent. There are reports that these two companies will merge this year in August. However, the Australian Competition and Consumer Commission expressed concerns regarding this proposal on Thursday.

The U.S. dollar index traded at 96.939 after experiencing a high of 97.044 at starting of the trading session. The Australian dollar against the U.S. dollar advanced to 0.7244 from 0.7219 of the yesterday while the Japanese yen was at 113.41 against the dollar.