– Asian stocks edged up on Monday as Chinese shares reversed early losses, supported by hopes for progress in resolving the US-China trade war, while sterling slipped after the British parliament delayed a crucial vote on a Brexit withdrawal deal.
The pan-region Euro Stoxx 50 futures STXEc1 were up 0.22%, German DAX futures FDXc1 0.19% and FTSE futures FFIc1 just 0.04%. Oil futures fell as lingering economic growth concerns and excess supplies of crude prompted speculators to trim their long positions. Shares in Hong Kong also got a lift after Chinese bourses revised rules to allow mainland investors to buy Hong Kong-listed dual-class shares for the first time.
US stock futures ESc1 rose 0.22% in Asia as investors brace for high-profile earnings this week from Microsoft Corp , Amazon.com and others.The 15-month long dispute over China’s trade and industrial policies has shown few signs ending despite several rounds of talks. The rule change, which will take effect on Oct. 28, could be a positive for Hong Kong shares, which have been battered during months of often violent protest against Chinese rule of the former British colony.The British government insists Brexit will take place on Oct. 31, but uncertainty over how British lawmakers will respond could weigh on sentiment for sterling.
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