Home Today's Paper Most Popular Video Gallery Photo Gallery
Subscription Blog Signin Register
Logo
Sunday, June 24, 2018 01:26:22 PM
Follow Us On: Facebook Twitter Twitter Twitter Twitter

Asian, European stocks up after historic N Korea summit

By
13th-Jun-2018       
Comments
Share your thought
Post a comment »
Read all () »

AFP, Hong Kong :
Major markets in Asia and Europe rose Tuesday after Donald Trump and Kim Jong Un held a historic summit, while investors look ahead to key policy meetings at the Federal Reserve and European Central Bank this week.
Trump said he had formed a "special bond" with the North Korean leader, who reaffirmed his commitment to "complete denuclearisation of Korean Peninsula" in a joint agreement signed by the two.
While the meeting was not expected to see any immediate results, it has provided hope for peace on the Korean peninsula.
However, investors remain concerned about a possible global trade war after the weekend's Group of Seven summit in Canada ended with Trump withdrawing support for a joint communique and accusing host Prime Minister Justin Trudeau of being dishonest.
That came just after he had hit Canada, Mexico and the European Union with steel and aluminium tariffs, sparking threats of retaliation that some fear could escalate.
For most of the day eyes were on Singapore, where Trump and Kim became the first sitting leaders of their countries to meet.
The pair signed what Trump called a "pretty comprehensive" and "very important" document, which spoke of "new US-DPRK relations" and committed Washington to "security guarantees".
Kim said the two Cold War foes had vowed to "leave the past behind" and promised "the world will see a major change".
Stocks fluctuated through the day but by the end of trade Tokyo was up 0.3 percent and Shanghai closed 0.9 percent higher. Hong Kong was 0.1 percent higher.
However, Seoul dipped 0.1 percent, while the Korean won eased 0.2 percent. Singapore was slightly lower, as were Wellington, Kuala Lumpur and Taipei.
In early trade London and Paris each rose 0.3 percent, while Frankfurt gained 0.8 percent.
"After quickly shrugging off the G7 fight club in Quebec, investors latched on to the air of optimism circulating from the Singapore summit," said Stephen Innes, head of Asia-Pacific trading at OANDA.
"And with pro-euro signals emanating from the newly formed Italian government placating investors anxiety about the future of the eurozone, the global risk was in the happy zone Monday."
However, Goohoon Kwon, co-head of Korea research and senior Asia economist at Goldman Sachs, told Bloomberg Television ahead of the signing that markets had already factored in a lower risk of conflict on the Korean peninsula.
He added that the "follow through, execution, implementation" of any agreements was most crucial.
While the Trump-Kim summit was the big news story, traders are keenly awaiting the Fed and ECB policy meetings. The US bank is expected to lift interest rates Wednesday but its post-meeting statement will be closely watched for a clue about its plans for future hikes.
Then on Thursday, European bank officials will likely debate for the first time cutting back on their crisis-era stimulus programme.
The euro extended gains after rallying Monday on the back of comments from new Italian Finance Minister Giovanni Tria ruling out Rome's exit from the single currency. That eased concerns about his populist, Eurosceptic government's intentions regarding the currency bloc.
The pound was also under pressure as British MPs prepare to vote on a string of amendments to key Brexit legislation that could force Prime Minister Theresa May's hand in talks with the European Union.

Tariff
Add Rate

News Archive

Inside The New Nation

Editorial »

American people rose against inhumanity of Trump`s immigration policy : Trump remains un-American


US President Donald Trump took an U-turn and changed his own policy amid strong protest by American people.  There are huge criticism and outcry in America over the way undocumented parents and children have been kept forcibly apart. He said he changed his mind by seeing images of children who ...

International »

UN Chief appeals for end to fighting in south Syria


AFP, United Nations :UN Secretary-General Antonio Guterres on Friday called for an immediate end to a military escalation in southwest Syria and a return to ceasefire arrangements agreed by Russia, the United States and Jordan.US Ambassador Nikki Haley separately urged Russia to pressure its Syrian ally to uphold the truce. ...

Football »

Nigeria`s John Obi Mikel (left) and Iceland`s Gylfi Sigurdsson compete for the ball during the group D match between Nigeria and Iceland at the 2018 soccer World Cup at the Volgograd Arena in Volgograd, Russia on Friday.


Football »

Portugal's Ruben Dias talks to journalists during a news conference prior the training session of Portugal at the 2018 soccer World Cup in Kratovo, outskirts Moscow, Russia on Saturday.


City »

Prime Minister and Awami League President Sheikh Hasina inaugurating the newly constructed building of the party's central office by releasing balloons in the city's Bangabandhu Avenue on Saturday.


Entertainment »

Sunny Leone hospitalised


Bollywood star and reality show host Sunny Leone was hospitalised on Thursday. Leone was taken to Brijesh Hospital Kashipur in the Udham Singh Nagar district of Uttarakhand on Thursday after she complained of stomach ache. However, her state was declared satisfactory on Friday morning.The doctor attending her has given the ...

Editorial »

Trump disregards the American core human right values : He is against America`s greatness


The United States withdrew from the United Nations Human Rights Council on Tuesday, condemning the "hypocrisy" of its members and its alleged "unrelenting bias" against Israel vividly face-off US stance in favour of rights violation. National and international news outlets reported that the US ambassador to the UN, Nikki Haley, ...

Entertainment »

Kriti Sanon shares glimpses from her IIFA performance


Actress Kriti Sanon took to social media to share glimpses from her upcoming electrifying performance at the IIFA awards. Kriti Sanon who landed in Bangkok on Thursday morning for IIFA wasted no time as she took to rehearsals for her much-awaited performance. Sharing insights into her performances, Kriti Sanon posted ...

Entertainment »

A fan paints a wall with Nidhhi Agerwal’s graffiti art


An ardent fan of Nidhhi Agerwal took to Twitter to share a Graffiti art of the actress painted on a wall. The fan artist painted a wall with the actress’ image giving showcasing his love for Nidhhi. The artist spent a huge amount of time getting every detail right to ...

Business & Economy »

Amir Uddin, Board Chairman of Al-Arafah Islami Bank Limited, presiding over its 117th meeting at the banks head office in the city on Thursday. Md. Abdus Salam, Abdul Malek Mollah, Khalid Rahim, members of the committee and Habibur Rahman, Managing Director of the bank were also present.


International »

North, South Korea discuss reunion for families separated by war


Reuters, Seoul :Delegations from North and South Korea met on Friday for talks to arrange the first reunions in about three years for families separated by the Korean War, with the Red Cross paving the way.The effort is among the steps promised by North Korean leader Kim Jong Un and ...

International »

Melania visits border, Congress flails on family separations


AFP, Mcallen :Melania Trump made a surprise trip to the US-Mexican border on Thursday as her husband's administration seeks to quell a firestorm over migrant family separations, while Republican lawmakers were forced to delay a high-stakes vote on the crisis.While President Donald Trump's administration struggled to formulate next steps, the ...

Football »

Croatia`s fans celebrate after the match on Thursday.


Football »

Lukaku tells how poverty fired World Cup dream


AFP, Moscow :Belgium striker Romelu Lukaku realised how poor his family was when he saw his mother watering down the milk. The football talent he is showcasing at the World Cup was their passport out of poverty.The Manchester United man has opened up about growing up in Antwerp and his ...

City »

Different kind of fruits have been arranged at the National Fruits Fair in the city's Khamarbari on Friday. The Ministry of Agriculture organizes the fair.


 
Items that you save may be read at any time on your computer, iPad, iPhone or Android devices.
 
Are you new to our website? Do you have already an account at our website?
Create An Account Log in here
Email this news to a friend or like someone
Email:
Write a comment to this news