{"id":1013,"date":"2019-10-21T14:15:15","date_gmt":"2019-10-21T14:15:15","guid":{"rendered":"https:\/\/jobbinghood.com\/finance\/2019\/10\/21\/asian-shares-edge-higher-pound-stumbles-on-brexit-drama\/"},"modified":"2019-10-21T14:15:15","modified_gmt":"2019-10-21T14:15:15","slug":"asian-shares-edge-higher-pound-stumbles-on-brexit-drama","status":"publish","type":"post","link":"https:\/\/jobbinghood.com\/magazine\/2019\/10\/21\/asian-shares-edge-higher-pound-stumbles-on-brexit-drama\/","title":{"rendered":"Asian shares edge higher, pound stumbles on Brexit drama"},"content":{"rendered":"<p> [ad_1]<br \/>\n<\/p>\n<div>\n<div class=\"article-image\">\n<figure><img fetchpriority=\"high\" decoding=\"async\" class=\"lazy lazy-hidden size-full wp-image-1741396\" src=\"http:\/\/www.financialexpress.com\/wp-content\/plugins\/a3-lazy-load\/assets\/images\/lazy_placeholder.gif\" data-lazy-type=\"image\" data-src=\"https:\/\/images.financialexpress.com\/2019\/10\/1-646.jpg\" alt=\"\" width=\"660\" height=\"440\" srcset=\"\" data-srcset=\"https:\/\/images.financialexpress.com\/2019\/10\/1-646.jpg 660w, https:\/\/images.financialexpress.com\/2019\/10\/1-646-300x200.jpg 300w, https:\/\/images.financialexpress.com\/2019\/10\/1-646-620x413.jpg 620w, https:\/\/images.financialexpress.com\/2019\/10\/1-646-401x267.jpg 401w\" sizes=\"(max-width: 660px) 100vw, 660px\"\/><noscript><img decoding=\"async\" class=\"size-full wp-image-1741396\" src=\"https:\/\/images.financialexpress.com\/2019\/10\/1-646.jpg\" alt=\"\" width=\"660\" height=\"440\" srcset=\"https:\/\/images.financialexpress.com\/2019\/10\/1-646.jpg 660w, https:\/\/images.financialexpress.com\/2019\/10\/1-646-300x200.jpg 300w, https:\/\/images.financialexpress.com\/2019\/10\/1-646-620x413.jpg 620w, https:\/\/images.financialexpress.com\/2019\/10\/1-646-401x267.jpg 401w\" sizes=\"(max-width: 660px) 100vw, 660px\"\/><\/noscript><span class=\"article-caption\">Hong Kong shares erased early losses to rise 0.26%.<\/span><\/figure>\n<\/div>\n<p>Asian stocks edged higher on Monday as Chinese shares reversed early losses due to hopes for progress in resolving the U.S.-China trade war and expectations for greater investment inflows into Hong Kong. MSCI\u2019s broadest index of Asia-Pacific shares outside Japan rose 0.19%. Chinese shares rose 0.13%, while Japan\u2019s Nikkei rose 0.28%.<\/p>\n<p>The pound slipped from a five-month high against the dollar and the euro after the British parliament forced Prime Minister Boris Johnson to seek a delay to an Oct. 31 deadline for Britain\u2019s departure from the bloc.<\/p>\n<p>The vote for an extension dealt a blow to optimism that a deal agreed last week would ensure Brexit happens with little economic disruption.<\/p>\n<p>Oil futures fell as lingering economic growth concerns and excess supplies of crude prompted speculators to trim their long positions.<\/p>\n<p>Chinese vice premier Liu He said on Friday that China will work with the United States to address each other\u2019s concerns, and that stopping the trade war would be good for both sides and the world.<\/p>\n<p>Shares in Hong Kong also got a lift after Chinese bourses revised rules to allow mainland investors to buy Hong Kong-listed dual-class shares for the first time.<\/p>\n<p>\u201cWe\u2019ve had some positive news from Liu, and allowing Chinese investors direct access to dual-listed Hong Kong shares is a another positive,\u201d said Sean Darby, global equity strategist at Jefferies in Hong Kong.<\/p>\n<p>\u201cThere is still a lot of money on the sidelines, and there are only eight or nine weeks left to put that money to work before we end the year. I expect markets to remain bid.\u201d<\/p>\n<p>U.S. stock futures rose 0.27% in Asia as investors brace for high-profile earnings this week from <a target=\"_blank\" href=\"http:\/\/www.financialexpress.com\/tag\/microsoft\/\" rel=\"noopener noreferrer\">Microsoft<\/a> Corp , <a target=\"_blank\" href=\"http:\/\/www.financialexpress.com\/tag\/amazon\/\" rel=\"noopener noreferrer\">Amazon<\/a>.com and others.<\/p>\n<p>The S&amp;P 500 fell 0.4% on Friday partly due to worries about fallout from the U.S.-China trade war.<\/p>\n<p>A 15-month long trade war between the United States and China has shown few signs of a durable resolution being reached despite several rounds of talks.<\/p>\n<p>Financial markets have been whipsawed over this period as a steady increase in tit-for-tat tariffs have slowed global trade and raised the risk of recession for some countries.<\/p>\n<p>Underscoring the damage, Japan\u2019s exports fell in September for the 10th straight month, while South Korea\u2019s exports for the first 20 days of October dived 19.5% year-on-year, data on Monday showed.<\/p>\n<p>Hong Kong shares erased early losses to rise 0.26%.<\/p>\n<p>Chinese bourses on Friday revised rules that would allow Hong Kong-listed dual-class shares to be included in the Stock Connect scheme for the first time, potentially benefiting popular tech companies such as <a target=\"_blank\" href=\"http:\/\/www.financialexpress.com\/tag\/xiaomi\/\" rel=\"noopener noreferrer\">Xiaomi<\/a> Corp and Meituan Dianping.<\/p>\n<p>The rule change, which will take effect on Oct. 28, could be a positive for Hong Kong shares, which have been battered during months of often violent protest against Chinese rule of the former British colony.<\/p>\n<p>The pound fell 0.7% to $1.2911 and was off about 0.4% to 86.46 pence per euro.<\/p>\n<p>The British government insists Brexit will take place on Oct. 31, but uncertainty over how British lawmakers will respond could weigh on sentiment for sterling.<\/p>\n<p>The leader of the House of Commons says the government plans to put the new Brexit deal to a debate and vote on Monday, but it is unclear if the speaker of the House will let this happen.<\/p>\n<p>Elsewhere in the currency markets, the dollar edged 0.1% higher to $1.1157 per euro but held steady at 108.49 yen.<\/p>\n<p>U.S. crude dipped 0.24% to $53.65 a barrel. Brent crude fell 0.34% to $59.22 per barrel.<\/p>\n<p>Money managers cut their net long U.S. crude futures and options positions in the week to Oct. 15, the U.S. Commodity Futures Trading Commission (CFTC) said on Friday.<\/p>\n<p>Long bets on U.S. crude have dropped sharply in the last two weeks after a spate of weak economic figures worldwide fanned concerns about global energy demand.<\/p>\n<p>Treasury prices fell in Asia. The yield on benchmark 10-year Treasury notes rose to 1.7554%.<\/p>\n<p>Gold, often considered safe-haven asset, was little changed at $1,490.12 per ounce.<\/p>\n<div class=\"common-bottom-text\">\n<p>Get live <a href=\"https:\/\/www.financialexpress.com\/market\/stock-market\/\" target=\"_blank\" rel=\"noopener noreferrer\">Stock Prices<\/a> from BSE and NSE and latest NAV, portfolio of <a href=\"https:\/\/www.financialexpress.com\/mutual-funds-india\/\" target=\"_blank\" rel=\"noopener noreferrer\">Mutual Funds<\/a>, calculate your tax by <a href=\"https:\/\/www.financialexpress.com\/income-tax-calculator\/\" target=\"_blank\" rel=\"noopener noreferrer\">Income Tax Calculator<\/a>, know market\u2019s <a href=\"https:\/\/www.financialexpress.com\/market\/stock-market\/nse-top-gainers\/\" target=\"_blank\" rel=\"noopener noreferrer\">Top Gainers<\/a>, <a href=\"http:\/\/www.financialexpress.com\/market\/stock-market\/nse-top-losers\/\" target=\"_blank\" rel=\"noopener noreferrer\">Top Losers<\/a> &amp; <a href=\"https:\/\/www.financialexpress.com\/mutual-funds-india\/equity-funds\/\" target=\"_blank\" rel=\"noopener noreferrer\">Best Equity Funds<\/a>. Like us on <a href=\" https:\/\/www.facebook.com\/thefinancialexpress\" target=\"_blank\" rel=\"noopener noreferrer\">Facebook<\/a> and follow us on <a href=\" https:\/\/twitter.com\/FinancialXpress\" target=\"_blank\" rel=\"noopener noreferrer\">Twitter<\/a>.<\/p>\n<\/div>\n<\/div>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><br \/>\n<br \/>[ad_2]<br \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>[ad_1] Hong Kong shares erased early losses to rise 0.26%. Asian stocks edged higher on Monday as Chinese shares reversed early losses due to hopes for progress in resolving the U.S.-China trade war and expectations for greater investment inflows into Hong Kong. MSCI\u2019s broadest index of Asia-Pacific shares outside Japan rose 0.19%. Chinese shares rose [&hellip;]<\/p>\n","protected":false},"author":348,"featured_media":1014,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3],"tags":[],"class_list":["post-1013","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-markets"],"_links":{"self":[{"href":"https:\/\/jobbinghood.com\/magazine\/wp-json\/wp\/v2\/posts\/1013","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/jobbinghood.com\/magazine\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/jobbinghood.com\/magazine\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/jobbinghood.com\/magazine\/wp-json\/wp\/v2\/users\/348"}],"replies":[{"embeddable":true,"href":"https:\/\/jobbinghood.com\/magazine\/wp-json\/wp\/v2\/comments?post=1013"}],"version-history":[{"count":0,"href":"https:\/\/jobbinghood.com\/magazine\/wp-json\/wp\/v2\/posts\/1013\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/jobbinghood.com\/magazine\/wp-json\/wp\/v2\/media\/1014"}],"wp:attachment":[{"href":"https:\/\/jobbinghood.com\/magazine\/wp-json\/wp\/v2\/media?parent=1013"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/jobbinghood.com\/magazine\/wp-json\/wp\/v2\/categories?post=1013"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/jobbinghood.com\/magazine\/wp-json\/wp\/v2\/tags?post=1013"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}