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Title : Global shares rise as investors watch U.S.-China trade talks
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Global shares rise as investors watch U.S.-China trade talks

Yuri Kageyama, The Associated Press</span>
Published Monday, March 18, 2019 12:32AM EDT
Last Updated Monday, March 18, 2019 5:29AM EDT

TOKYO -- Global shares rose Monday as investors awaited signs the U.S. and China could be making progress in negotiations on resolving the trade war between the two biggest economies.

France's CAC 40 added 0.2 per cent to 5,413.78. Germany's DAX rose 0.1 per cent to 11,697.10, while Britain's FTSE 100 gained 0.4 per cent to 7,255.26.

U.S. shares were set for a mixed start with Dow futures inching down less than 0.1 per cent to 25,876.00. S&P 500 futures rose less than 0.1 per cent, to 2,831.60.

China's congress on Friday endorsed an investment law that aims to address complaints, particularly from the U.S., that China's system is rigged against foreign companies. The U.S. claims China forces companies to share technology in order to do business in the country.

The lack of any major upsets in the talks appears to have calmed frazzled nerves.

The Shanghai Composite index jumped 2.5 per cent to 3,096.42 while Hong Kong's Hang Seng advanced 1.4 per cent to 29,409.01.

But that could easily change, given reports that a meeting between President Donald Trump and Chinese leader Xi Jinping to formalize a deal might be pushed back to June.

"U.S.-China trade war concerns were a major factor of a global growth downgrade," said Alfonso Esparza, an analyst with Oanda. "While comments from both sides have been positive, there have been few details on where negotiations stand. The delay could once again spark anxiety in the market."

Traders are also confident that the Federal Reserve will hold off on any action that could jeopardize economic growth. The central bank, which signalled in January that it was hitting pause on its rate hikes amid a slowdown in global growth and weak inflation, is holding a meeting of policymakers this week.

Elsewhere in Asia, Japan's benchmark Nikkei 225 added 0.6 per cent to 21,584.50. Australia's S&P/ASX 200 rose 0.3 per cent to 6,190.50. South Korea's Kospi added 0.2 per cent to 2,179.49. India's Sensex slipped 0.1 per cent to 37,994.25, while shares in Southeast Asia were mostly higher.

CURRENCIES: The dollar rose to 111.50 Japanese yen from 111.48 yen on Friday. The euro strengthened to $1.1345 from $1.1326.

ENERGY: The price of U.S. crude oil dropped 33 cents to $58.19 a barrel in electronic trading on the New York Mercantile Exchange. It slipped 0.2 per cent to settle last week at $58.52 a barrel. Brent crude gave up 26 cents to $66.90 a barrel.

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