Stocks in Australia were higher in morning trade of the final day of 2018.
The ASX 200 rose 0.72 percent in morning trade, with almost all sectors seeing gains. Australia’s markets close at 11:10 a.m. HK/SIN today for New Year’s Eve.
The materials subindex Down Under gained more than 1 percent in the morning, as shares of major miners advanced. Rio Tinto rose 1.36 percent, Fortescue advanced 0.72 percent and BHP Billiton climbed up by 1.65 percent.
Markets in Japan and South Korea are closed today for public holidays.
The mainland Chinese markets, watched for much of 2018 in relation to Beijing’s ongoing trade war with Washington, are set to open at 9:30 a.m. HK/SIN.
Investors will be watching out for an important economic indicator in China, with the country’s manufacturing Purchasing Managers’ Index for the month of December set to be released at 9 a.m. HK/SIN.
Hong Kong’s markets, which are also set to open at 9:30 a.m. HK/SIN, will close earlier at 12:00 p.m. HK/SIN for New Year’s Eve.
U.S. President Donald Trump took to Twitter on Saturday and said that a “long and very good call” had taken place between himself and Chinese President Xi Jinping.
In the post, Trump also said: “Deal is moving along very well. If made, it will be very comprehensive, covering all subjects, areas and points of dispute. Big progress being made!”
Following the tweet, however, the Wall Street Journal reported that Trump “may be overstating how close the two sides are to an agreement,” citing sources “familiar with the state of negotiations.”
Trump’s comments came after both he and Xi earlier this month agreed to a 90-day pause in tariff escalation.
The U.S. dollar index, which tracks the greenback against a basket of its peers, was at 96.410 after seeing highs above the 97 handle last week.
The Japanese yen, widely viewed as a safe-haven currency, traded at 110.33 after touching lows above 111.3 in the previous trading week. The Australian dollar was at $0.7047 after seeing highs above $0.707 last week.
— Reuters contributed to this report.
