A man looks at an electronic stock board showing Nikkei Stock index, at a securities firm in Tokyo, Wednesday, Feb. 13, 2019. Asian shares were mostly higher Wednesday, cheered by prospects for a resolution to the costly trade dispute between the U.S. and China, which had also sent Wall Street indexes higher. (AP Photo/Koji Sasahara)

Global shares mostly higher on hopes for US-China trade deal

February 13, 2019 - 3:36 am

TOKYO (AP) — Global shares were mostly higher Wednesday as investors pinned their hopes on a possible resolution of the bruising trade war between the U.S. and China.

Shares rose in early European trading, tracking gains on Wall Street and in Asia. France's CAC 40 edged up nearly 0.3 percent in early trading to 5,070.33, while Germany's DAX was 0.4 percent higher at 11,175.29. Britain's FTSE 100 edged up nearly 0.5 percent to 7,165.82.

U.S. shares were set to drift higher with Dow futures adding 0.3 percent to 25,486. S&P 500 futures also gained 0.3 percent to 2,751.7.

President Donald Trump said Tuesday that he might let a March 2 deadline slide in trade talks with China if the two countries get close to a deal. Earlier, the White House had said it was a "hard deadline."

Both nations are trying to reach a deal before additional tariffs are due to kick in, escalating the conflict and further hurting companies and consumers with higher prices for materials and products.

The trade dispute is detrimental to the export-dependent Asian region, and a slowdown in growth in China is hurting neighboring economies.

ASIA'S DAY: Japan's benchmark Nikkei 225 adding 1.3 percent to finish at 21,144.48. Hong Kong's Hang Seng added 1.2 percent at 28,497.59. The Shanghai Composite index jumped 1.8 percent to 2,721.07. In other markets, Australia's S&P/ASX 200 slipped 0.3 percent to 6,063.60 and South Korea's Kospi edged up 0.5 percent to 2,201.48. Shares were mostly higher in Southeast Asia.

ENERGY: U.S. benchmark crude rose 40 cents to $53.50 a barrel in electronic trading on the New York Mercantile Exchange. It rose 1.3 percent to settle at $53.10 per barrel in New York. Brent crude, the standard for international oil prices, gained 54 cents to $62.96 per barrel in London.

CURRENCIES: The dollar rose to 110.71 yen from 110.50 yen Tuesday. The euro strengthened to $1.1324 from $1.1285.

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Yuri Kageyama is on Twitter at https://twitter.com/yurikageyama

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