Shanghai stocks close at highest since late 2021 on hopes for Sino-US trade deal SHANGHAI/SINGAPORE (Reuters) -The Shanghai benchmark advanced to its highest close in more than 3-1/2 years on Wednesday, underpinned by market hopes for an extended trade truce between the United States and China to reach a final deal. ** At the close, the Shanghai Composite index was up 0.45% at 3,633.99 points, marking the third straight session of gains, and booking the highest close since December 31, 2021. Meanwhile, the blue-chip CSI300 index was up 0.24%. ** Defence and coal shares led gains, rising 2.65% and 2.21%, respectively. ** U.S. President Donald Trump said on Tuesday the U.S. was close to a trade deal with China and that he would meet his Chinese counterpart, Xi Jinping, before the end of the year if an agreement is struck. "We’re getting very close to a deal. We’re getting along with China very well," Trump said. ** Winnie Chwang, portfolio manager at Matthews Asia, said investors would like to see more clarity from Sino-U.S. trade negotiations. "I do sense that, while there’s been a bit more interest in revisiting the Chinese markets, there are also still investors that sit on the fence, primarily given the still uncertain nature of trade, and it’s very difficult to make any sort of confident predictions," Chwang said. ** Jason Lui, head of East Asia strategy at BNP Paribas (OTC:BNPQY), said China’s decision to re-impose value-added tax on interest rate income from new treasury, local government and financial bonds encouraged fund re-allocation. ** "By re-imposing the VAT, policymakers may have aimed to redirect funds from the rates market to the equity and the credit market," Lui said. "This move would also align with the commitment to ’strengthen the improving momentum in the capital market’ as outlined by the latest Politburo meeting." ** In Hong Kong, the benchmark Hang Seng Index inched up 0.03% at 24,910.63 points, while the Hang Seng China Enterprises index fell 0.21% to 8,932.68 points. ** Separately, market attention will shift to a string of domestic economic data due later this week, including trade on Thursday and inflation on Saturday, that will give clues on the health of the economy. ** A Reuters poll showed that China’s export growth probably slowed in July, as manufacturers await clarity on whether Beijing can reach a deal with its top consumer market, the United States, or if Trump will reinstate additional tariffs on goods from China. Don't miss out on the next big opportunity! Stay ahead of the curve with ProPicks AI – 6 model portfolios fueled by AI stock picks with a stellar performance this year... In 2024 alone, ProPicks AI identified 2 stocks that surged over 150%, 4 additional stocks that leaped over 30%, and 3 more that climbed over 25%. That's an impressive track record. With portfolios tailored for Dow stocks, S&P stocks, Tech Stocks, and Mid Cap stocks, you can explore various wealth-building strategies. So if BNPQY is on your watchlist, it could be very wise to know whether or not it made the ProPicks AI lists.

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China stocks end at nearly 3-week high as Sino-US trade truce sparks optimism - Mint China stocks end at nearly 3-week high as Sino-US trade truce sparks optimism  Mint

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European shares stable as markets eye Sino-US trade talks (Reuters) -European stocks were steady on Tuesday, shrugging off modest losses from the previous session, as investors stayed on edge awaiting fresh signals from the second day of tense U.S.-China trade negotiations. The continent-wide STOXX 600 held its ground at 553.12 points, as of 0703 GMT. The spotlight remains on the talks in London between the world’s two biggest economies, as investors eagerly watch for any signs of progress or a thaw in relations. U.S. President Donald Trump on Monday put a positive spin on the talks, without divulging any details on how the trade war, that has threatened to disrupt global supply chains, could de-escalate. Gains in automakers, which rose 1%, were offset by financial services and industrial shares, which fell 0.8% and 0.4%, respectively. Among stocks, Novo Nordisk (NYSE:NVO) gained nearly 2% after a report said activist hedge fund Parvus Asset Management is building a stake in the drugmaker. Bellway (LON:BWY) gained 4% after the British homebuilder raised its forecast for full-year volume production. Shares of Aberdeen gained 5% after J.P.Morgan upgraded the fund manager’s stock to "overweight" from "neutral". Should you invest $2,000 in BWY right now? With BWY making headlines, savvy investors are asking: Is it truly valued fairly? In a market full of overpriced darlings, identifying true value can be challenging. InvestingPro's advanced AI algorithms have analyzed BWY alongside thousands of other stocks to uncover hidden gems. These undervalued stocks, potentially including BWY, could offer substantial returns as the market corrects. In 2024 alone, our AI identified several undervalued stocks that later surged by 30 or more. Is BWY poised for similar growth? Don't miss the opportunity to find out.

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Asian stocks rise on signs of easing Sino-US trade tensions - Reuters Asian stocks rise on signs of easing Sino-US trade tensions  Reuters

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