Asian shares mixed after China eases trade tensions

US stocks edge higher as China eases trade tensions

US: Wall St opens higher on tariff delays, ECB stimulus

The Dow Jones industrials rose 45 points, or 0.2%, to 27,182 after being up about 170 points earlier.

Meanwhile, Japan's Nikkei index is now reporting 0.85% gains and shares in South Korea and Australia are adding at 0.80% and 0.35%, respectively.

MSCI's broadest index of Asia-Pacific shares outside Japan was up 0.2% and Japan's Nikkei stock index rose 1%.

Separately, data on Thursday showed US underlying consumer prices in August recorded the largest annual gain in a year, while weekly jobless claims dropped to a five-month low.

The news comes after Trump agreed on Wednesday to delay an additional increase in tariffs on Chinese goods by two weeks "as a gesture of good will".

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Semiconductor companies, whose revenues primarily rely on trade with China, also extended mild gains, as the Philadelphia Semiconductor Index edged higher by almost 0.3 percent around the closing bell. Chinese importers have made inquiries on prices of certain USA farm goods, a move also seen as a goodwill gesture ahead of upcoming negotiations.

Trade-sensitive technology stocks provided the biggest boost among the 11 major S&P 500 sectors. As the series of data including trade and the latest PPI numbers had shown, China's economic conditions had continued to trend downwards to reflect the deterioration.

The world's two largest economies have been locked in protracted battle over Beijing's trade practices that has raised the specter of a global recession.

The ECB approved a new stimulus package on Thursday, cutting deposit rates by 10 basis points to a record low and starting a bond buying program. The S&P ASX 200 also rose 0.2%, to 6,651.40.

ENERGY: Benchmark crude oil lost 45 cents to $55.30 per barrel in electronic trading on the New York Mercantile Exchange. UnitedHealth Group fell 1.8%.

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Oracle Corp fell 3.7% after the software maker posted first-quarter revenue that missed Wall Street expectations and said Chief Executive Officer Mark Hurd would be taking a medical leave.

Trade optimism also pushed yields on U.S. Treasuries higher after early declines in sync with European bonds. The pound rocketed to a six-week high on Monday, reversing last week's losses as investors welcomed the British parliament's move to block a no-deal Brexit on October 31. Brent crude oil, the global standard, gave up 70 cents to $60.11 per barrel.

Oil prices rose in Asia, rebounding from a tumble on Wednesday, on hopes OPEC members will cut output to support prices.

Gold rose $4.30 to $1,498.70 per ounce, silver rose 1 cent to $18.04 per ounce and copper rose 2 cents to $2.62 per pound. Declining issues outnumbered advancers for a 1.07-to-1 ratio on the Nasdaq.

After a hard August in which concerns about a global recession sparked a scramble into safer assets, investors have been returning to riskier markets this month, encouraged by China and the United States making moves to ease trade tensions and by receding fears of a no-deal Brexit.

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The euro held steady at $1.1013 but traded near a one-week low.

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