Australian stocks rise in anticipation of US-China trade talks

Australian stocks rose on Monday morning as investors were on the look out for developments on the US-China trade talks set to continue in Beijing later in the week.

US-China trade talks Source: Bloomberg

On Monday, the ASX 200 rose 0.17% with most sectors seeing gains. Rio Tinto gained 1.46% as the materials subindex jumped around 1.3%. Other major miners also advanced. Fortescue Metals Group Ltd rose 2.65% and BHP Billiton climbed up 1.59%.

US-China trade talks in Beijing this week

A new round of negotiations is set to be held in Beijing later this week, as investors have their eyes pinned to the updates.

Despite the anticipation, the two countries have not yet put together a draft on matters in conflict, according to US media reports.

Both Washington and Beijing aim to strike a deal on trade before the March 1 deadline, as US president Donald Trump has promised more tariffs on Chinese imports to the US, if no deal was reached by deadline.

Trump said on Thursday he did not have plans to meet with Chinese president Xi Jinping before the deadline, causing volatility in the markets.

The most recent set of negotiations finished up in Washington without a deal, after the top US negotiator declared more work needed to be done.

White House economic advisor Larry Kudlow also said there is a "pretty sizable distance to go" before the two countries could reach a deal.

What’s being negotiated?

White House officials said on Friday that preparations were under way, as the talks focus on Beijing making structural reforms around how it treats American companies.

US negotiators will press China during the talks, pushing for intellectual property reforms. The US has problems with unfair trade practices, accusing China of forcing US companies to share their technology with Chinese firms. China has denied it engages in such practices.

Lower-level officials begin the meetings today, led by deputy US trade representative Jeffrey Gerrish, while higher-level talks take place Thursday and Friday with US trade representative robert Lighthizer and treasury secretary Steven Mnuchin.

Take a position on indices

Deal on the world’s major stock indices today.

  • Trade the lowest Wall Street spreads on the market
  • 1-point spread on the FTSE 100 and Germany 30
  • The only provider to offer 24-hour pricing

Related articles

Live prices on most popular markets

  • Forex
  • Shares
  • Indices
Bid
Offer
Updated
Change
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
Bid
Offer
Updated
Change
Bid
Offer
Updated
Change
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-

Prices above are subject to our website terms and agreements. Prices are indicative only. All shares prices are delayed by at least 15 mins.

Plan your trading week

Get the week’s market-moving news sent directly to your inbox every Monday. The Week Ahead gives you a full calendar of upcoming economic events, as well as commentary from our expert analysts on the key markets to watch.


For more info on how we might use your data, see our privacy notice and access policy and privacy webpage.

You might be interested in…

Find out what charges your trades could incur with our transparent fee structure.

Discover why so many clients choose us, and what makes us a world-leading provider of spread betting and CFDs.

Stay on top of upcoming market-moving events with our customisable economic calendar.


This information has been prepared by IG, a trading name of IG Markets Limited. In addition to the disclaimer below, the material on this page does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instrument. IG accepts no responsibility for any use that may be made of these comments and for any consequences that result. No representation or warranty is given as to the accuracy or completeness of this information. Consequently any person acting on it does so entirely at their own risk. Any research provided does not have regard to the specific investment objectives, financial situation and needs of any specific person who may receive it. It has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such is considered to be a marketing communication. Although we are not specifically constrained from dealing ahead of our recommendations we do not seek to take advantage of them before they are provided to our clients. See full non-independent research disclaimer and quarterly summary.

Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 81% of retail investor accounts lose money when trading spread bets and CFDs with this provider. You should consider whether you understand how spread bets and CFDs work, and whether you can afford to take the high risk of losing your money. Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage.