10/12/2018, 8:14 AM (Source:
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Asian markets turn positive as US futures point to recovery

Asian markets reversed early losses and turned to gains on Friday as stock market index futures in the United States point to a broad recovery from a two-day selloff triggered by fears of rising interest rates. The Dow Jones ended yesterday's session 500 points down, adding to an 800 points drop recorded the day before, while the Nasdaq 100 and S&P 500 also recorded big losses. However, all three index futures trade over 1% higher ahead of the last trading day of the week.

Meanwhile, a report emerged claiming that US President Donald Trump is set to meet with his Chinese counterpart Xi Jinping on the sidelines of the G20 summit in Buenos Aires at the end of next month. The possible meeting comes amid a period of deteriorating relations and a trade war between the two countries. US National Economic Council Director Larry Kudlow said China's responses to Washington's requests on trade have been "unsatisfactory" and accused it of breaking trade law and stealing technology from the US.

The Japanese Nikkei 225 ended the session 0.46% higher, while South Korea's Kospi Composite gained 1.53% at 7:49 am CET.

Hong Kong's Hang Seng was up 1.63% at 8:10 am CET. The Shenzhen Composite added 0.27% at 8:11 am CET, while the Shanghai Composite traded 0.45% in the green at the same time.

Australia's S&P/ASX 200 increased 0.20% at 8:05 am CET.

The dollar traded 0.18% higher against the yen to sell for 112.368 at 8:13 am CET.

Breaking the News / FH