Asian markets rise as earnings, trade hopes provide cheer | 2019-07-24

Asian markets rise as earnings, trade hopes provide cheer

24 July, 2019 12:00 AM printer

HONG KONG: Asian markets rose Tuesday, tracking gains on Wall Street with confidence given a boost by a positive earnings season and speculation top US and Chinese negotiators will hold face-to-face trade talks soon.

A bipartisan agreement to raise the US debt ceiling to fund the government for another two years -- avoiding another painful shutdown -- also provided some cheer, reports AFP.

The gains across the board come a week before the Federal Reserve holds its next policy meeting at which it is expected to cut interest rates, with a big question over how deep it will go.

While uncertainty remains over the outlook for the global economy, investors have been cheered by the earnings season so far as a number of reports have come in above forecasts, though analysts point out that expectations had been low.

Attention is now on the upcoming releases by tech titans including Amazon, Facebook and Google, with Boeing, Caterpillar, American Airlines and Coca-Cola also in line.