(MENAFN- DailyFX) Asian Stocks Talking Points:
The US-China trade story was subject to some mixed signals. Oilprices rose on reports that Saudi supply could take a while to fully return UK travel agent Thomas Cook collapsed, leading to problems for its regional partners. -p
p-Find out what retail foreign exchange investors make of your favorite currency's chances right now at theDailyFX Sentiment Page -p
p-Asian stocks were mostly lower Monday astrade worriesreared up once more and oil prices rose.
Investors were without usual regional bellwether Japan. TheNikkei 225was closed for a holiday. Chinese stocks slipped, however. The country's Ministry of Commerce said over the weekend that economic and trade teams from China and the US had 'constructive' talks and would remain in contact. However, US shares had retreated on Friday after the Chinese delegation returned home earlier than planned, cancelling some farm visits.
Oil prices rose on Monday on reports that Saudi state producer Aramco's repairs from recentdrone attackscould take longer than expected, with consequent effects on global oil supply.
US benchmark crude oil prices remain well below their post-strike peaks but remain within a higher trading range than previously as investors respond to news flow.
![West Texas Intermediate Crude, Daily Chart]()
Regional oil firms endured differing fortunes on this news. China's CNOOC was lower but Australia's Beach Energy rose sharply as did South Korea's S-Oil.The Hang Seng was down overall. Sentiment was not helped by the collapse of Thomas Cook, the venerable UK travel name. China's Fosun is the largest shareholder.
TheASX 200was a notable regional gainer. It was up 0.3% as its afternoon session got under way. Retailer Premier Investments was in demand after a broker upgrade. The tech sector's good run seemed to be over though as investors eyed a weakerNasdaqperformance. Australia's Webjet saw its stock fall, again thanks to links with Thomas Cook.
There are plenty of likely points of interest still to come on Monday. Prominent on the schedule are US Purchasing Managers Index data and testimony to the European Parliament from European Central Bank President Mario Draghi.
-pp-Asian Stocks Resources for Traders-pp-Whether you're new to trading or an old hand DailyFX has plenty of resources to help you. There's ourtrading sentimentindicator which shows you live how IG clients are positioned right now. We also holdeducational and analytical webinarsand offer trading guides, with onespecifically aimed at those new to foreign exchange markets . There's also aBitcoin guide . Be sure to make the most of them all. They were written by our seasoned trading experts and they're all free.-p-- Written by David Cottle, DailyFX Research
Follow David on Twitter @DavidCottleFXor use the Comments section below to get in touch!
-pppp-
DailyFX
MENAFN2309201900760000ID1099037899
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.