Asian shares tick up, European stocks diverge at open

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Asian stocks edge up, Europe stocks diverged, and pound slides after British Prime Minister Boris Johnson was forced to request another Brexit extension

In this October 11, 2019 photo, a man walks past an electronic stock board showing Japan's Nikkei 225 index and other Asian market index at a securities firm in Tokyo. Asian shares were mixed on October 21, amid uncertainties about Britain’s exit from the European Union and the ongoing trade conflict.

MSCI's broadest index of Asia-Pacific shares outside Japan rose 0.25 percent. Chinese shares advanced 0.31 percent, while Japan's Nikkei rose 0.30 percent.Sterling meanwhile declined 0.4 percent, from a five-month high against the dollar, while the euro gained 0.2 percent in value versus the pound. On a day of high drama on Saturday, MPs in the House of Commons passed up the chance to decide on the revised withdrawal agreement that Johnson had negotiated with the European Union.

Long bets on US crude have dropped sharply in the last two weeks after a spate of weak economic figures worldwide fanned concerns about global energy demand.The Chinese stock market appeared to take some encouragement from comments by Chinese vice premier Liu He on Friday that Beijing will work with the US to address each other's concerns, and that stopping the trade war would be good for both sides and the world.

"We've had some positive news from Liu, and allowing Chinese investors direct access to dual-listed Hong Kong shares is a another positive," said Sean Darby, global equity strategist at Jefferies in Hong Kong.

 

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