Asian Market Review

Markets are trading higher across Asia as investors ignore the overnight weakness on Wall Street and focus instead on the upcoming trade talks between the U.S. and China, with hopes for at least a “mini-deal” running high.

Japan’s Nikkei is trading 0.9% higher in morning trade, bolstered by overnight weakness in the Yen as traders are moving back out of the haven asset following last Friday’s solid U.S. jobs report. Nikon is extending gains for a second session, rising 1.6%, Canon is up by 0.7%, and Fast Retailing has a 0.9% gain.

In Australia the S&P/ASX 200 is extending its gains for a second session, adding 0.6% in morning trade. The big four banks are extending their own gains as they advance in the range of 0.1% to 0.8%. Miners are also making good gains, with BHP trading 0.8% higher and Rio Tinto advancing 1.2%.

In mainland China traders are returning from the week-long “Golden Week” holiday and markets are open for the first time in October. The Shanghai Composite is trading 0.2% higher, while the smaller cap Shenzhen Composite has a 0.5% gain. Meanwhile in Hong Kong the Hang Seng has fallen 0.1% at the open.

South Korea’s Kospi is up by 0.7%, with LG Electronics giving back more than half the gains of the previous session as it trades down by 1.6% today, and in Taiwan the Taiex has added 0.6%, with Taiwan Semiconductor jumping 2% higher.

In Southeast Asia Singapore’s Straits Times is up by 0.4%, and the KLCI in Malaysia is rising 0.1%.