Originally published by Rivkin
Optimism among US-China trade war has set the tone for an expected positive day in the asx with futures up 14 points at 830am AEDT and the Australian dollar 0.6 per cent higher.
The major US indices finished roughly a per cent higher with large fluctuations throughout the day. Chinese officials have proposed a series of potential concessions to the Trump administration for the first time since the American summer with hopes that the potential of compromise will come about between the 2 nations. This follows reports of China’s manufacturing sector being affected however export growth remains steady.
Australian shares experienced an indecisive trading session finishing out the day relatively flat up just 3.2 points. The major banks weighed heavily on the broader index continuing their falls with CBA (AX:CBA) closing 0.5 per cent lower at $68.86, Westpac (AX:WBC) fell 0.4 per cent to $25.34 and NAB (AX:NAB) slid 0.2 per cent to $23.88