Asian shares rose on Tuesday, but investors sentiment
remained cautious over the upcoming trade talks between
Washington and Beijing later this weekend, especially after U.S President Donald
Trump said a quick deal was unlikely to happen.
After a week-long holiday, Chinese shares led gain in
Asia, where the CSI 300 index surged 0.61 percent to finish at 3,837.68, despite
an unexpected in China’s services data.
Caixin services PMI released today slipped to a seven-month
low of 51.3 in September from 52.1 in August, missing forecasts of 52.1.
Japan’s Nikkei 225 index closed 0.99 percent up
at 21,587.78, driven by gains in technology stocks in South Korea and
Taiwan. Australia’s S&P/ASX 200 rose 0.45 percent at 6,593.90.
Hong Kong Hang Seng index slightly recover some of its
losses at 0.24 percent up to reach 25, 883, after violent protests earlier
this week.
The U.S. and Chinese deputy trade negotiators on
Monday began two-day talks aimed at paving the way for the first cabinet-level
negotiations later this week.
The talks began ahead of the planned increase in U.S.
tariffs on Chinese goods worth $250 billion, to 30% from 25% on October 15.
As Investors, believe that these trade talks between
the two sides help improve the mood within the global markets.
However, the prospects were reduced after Washington
blacklisted some Chinese companies for Beijing's treatment of Muslim-majority
ethnic minorities.
Overnight, Dow Jones fell 0.36 percent, S&P 500
Index slumped 0.45 percent and Nasdaq Composite dropped 0.33 percent.
Later in the day, U.S. producer prices for September
may miss analysts’ forecasts due to the weakness in the manufacturing sector.
U.S. PPI rose 0.1 percent
last month, while the core reading soared 0.2 percent, according to median
projections.