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Global market stocks rise on cautious Brexit deal hopes

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Sentiment remains fragile due to US-China trade war uncertainties

Tokyo — Asian stocks and Wall Street futures inched higher on Tuesday as some investors held out hope that Britain still had a chance to avoid a messy exit from the EU at negotiations this week.

Reports of a “phase 1” trade deal between the US and China last week had earlier cheered markets, but the dearth of details about the agreement has since curbed this enthusiasm with oil prices extending declines, Chinese stocks weaker and the safe-haven yen holding gains vs dollar. British Prime Minister Boris Johnson wants to strike an exit deal at an EU summit on Thursday and Friday to allow an orderly departure on October 31.

Chinese stocks fell 0.38% on Tuesday, led by declines in the technology sector. In the onshore market, the yuan traded at 7.0654 a dollar, weaker than a one-month high of 7.0494 reached on Monday.

 

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