Asia Pacific Stocks Surge As Investors Eyes On U.S.-China Trade Talk Progress

Asia Pacific Stocks surge as investors eyes on U.S.-China trade talk progress. Stocks in Asia markets rose in Tuesday afternoon trade as investors await further developments from U.S.-China trade talks in Shanghai. The Bank of Japan kept interest rates steady.

The Nikkei 225 added 0.32% and shares of index heavyweight Fanuc rose 2.93%. The Topix index jumped 0.24%.

In mainland China, the Shanghai composite gained 0.65% in the afternoon, the Shenzhen component gained 0.97% and the Shenzhen composite rose 0.886%.

Shares of Chinese tech company Tencent added 0.81%. The company plans to team up with Qualcomm on gaming devices and 5G.

Over in South Korea, the Kospi jumped 0.6% after the index dropped on Monday. Stocks of index heavyweight Samsung Electronics rose about 1%. Australia’s S&P/ASX 200 jumped 0.36%.

The MSCI Asia ex-Japan index gained 0.35%.

The Bank of Japan opted to keep monetary policy steady on Tuesday but said it will ramp up stimulus without hesitation if the economy loses momentum toward momentum for achieving its 2% inflation target.

The Japanese central bank also said, “The bank intends to maintain the “current extremely low levels” of short- and long-term interest rates for an extended period of time, at least through around spring 2020.”

The Dow Jones Industrial Average jumped 28.90 points to end its trading day at 27,221.35. The Nasdaq Composite slipped 0.44% to close at 8,293.3. The S&P 500 fell 0.16% to close at 3,020.97.

International benchmark Brent crude futures rose 0.49% to $64.02 per barrel and U.S. crude futures added 0.49% to $57.15 per barrel.