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Tuesday, November 19, 2019  
 
 
 
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Global Shares Mixed on Trade Talks     11/19 05:06

   Shares advanced in early European trading Tuesday after a mixed session in 
Asia as investors awaited fresh developments in trade talks between the United 
States and China.

   TOKYO (AP) -- Shares advanced in early European trading Tuesday after a 
mixed session in Asia as investors awaited fresh developments in trade talks 
between the United States and China.

   France's CAC 40 added 0.3% to 5,945.15, while Germany's DAX rose 0.4% to 
13,259.55. Britain's FTSE 100 gained 0.4% to 7,339.84. U.S. shares were set to 
drift higher with Dow futures up 0.2% at 28,069. S&P 500 futures were also up 
0.2% at 3,127.00.

   Japan's benchmark Nikkei 225 shed 0.5% to finish at 23,292.65. Australia's 
S&P/ASX 200 added 0.7% to 6,814.20. South Korea's Kospi slipped 0.3% to 
2,153.24. Hong Kong's Hang Seng gained 1.6% to 27,093.80, while the Shanghai 
Composite index jumped nearly 0.9% to 2,933.99.

   Chinese indexes rose as political protests in Hong Kong quieted somewhat, 
with police tightening a blockade at Hong Kong Polytechnic University. Hundreds 
of demonstrators who left the campus after a violent weekend were arrested.

   Strong economic data and better corporate earnings than expected have buoyed 
U.S. shares since early October.

   But the on-again, off-again negotiations between Beijing and Washington over 
their trade dispute remain a wild card for the markets.

   "Risk sentiment can be seen little changed amid the conflicting reports on 
US-China trade as we remain in a very headline driven reality," said Jingyi 
Pan, market strategist at IG in Singapore.

   In a boost for technology stocks, especially chip makers, the Commerce 
Department gave another 90-day extension for Chinese tech giant Huawei to 
continue doing business with U.S. companies.

   President Donald Trump earlier ordered that U.S. manufacturers stop 
supplying key components to Huawei on the grounds that it is a security risk. 
But the government has not shown evidence of that, and many American companies 
have sought exclusions to the rule for the sake of their own businesses.

   Markets seemed to react with calm to news that Trump summoned Federal 
Reserve Chairman Jerome Powell to the White House on Monday to discuss the 
economy and interest rates --- issues where the president has repeatedly 
attacked the Fed.

   Trump tweeted Monday that his meeting with Powell was "very good and 
cordial." He added that they discussed "interest rates, negative interest, low 
inflation, easing, Dollar strength and its effect on manufacturing, trade with 
China, E.U. and others, etc."

   The Fed said in a statement that Powell's message to Trump during their 
meeting was similar to the one he expressed in congressional testimony last 
week, when he said that the economy is in good shape and that the Fed would 
likely suspend its rate cuts for now. The central bank has cut its benchmark 
short-term rate three times this year to try to support the economy.

   ENERGY: Benchmark oil fell 2 cents to $57.03 a barrel in electronic trading 
on the New York Mercantile Exchange. It fell 67 cents to $57.05 a barrel 
Monday. Brent crude, the international standard, picked up 2 cents to $62.46 a 
barrel.

   CURRENCIES: The dollar rose to 108.79 Japanese yen from 108.68 yen on 
Monday. The euro inched down to $1.1067 from $1.1072.


(AG)

 
 
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