Asian stocks up led by tech companies

However, investors are worried regarding the US-China trade conflicts especially after comments of US Secretary of Commerce Wilbur Ross.

Jan 25, 2019 02:01 IST India Infoline News Service

Shares in Asian markets were trading in the green on Friday led by technology companies, which followed the strong US session for chipmakers. Shares in Japan, Hong Kong, and China gained.

However, investors are worried about the US-China trade conflicts especially after comments from US Secretary of Commerce Wilbur Ross. As per media reports, Ross said both the economies remain “miles and miles” apart on the trade deal. However, White House economic adviser Lawrence Kudlow later said President Donald Trump is optimistic about trade talks and the January jobs report will be up a significant amount.

Besides, on the currency front, the pound climbed to ~3 months high after UK news media reported that the DUP, which provides crucial support for UK Prime Minister Theresa May’s government in Parliament, has agreed to back her new Brexit deal. Further, the euro dropped on the back of disappointing economic data amid a report of the German government trimming its growth forecast.

Meanwhile, Australian bonds extended gains amid worries on economic growth slowdown. Venezuela bonds also extended their rally on speculation President Nicolas Maduro’s opponents will gain momentum in their efforts to oust him.

-With inputs from Bloomberg

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