Home Economy Asian shares tick up on China property relief, focus shifts to Sino-U.S....

Asian shares tick up on China property relief, focus shifts to Sino-U.S. talks

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HONG KONG (Reuters) – Asian shares were mostly higher on Tuesday, as relief in China’s property sector supported sentiment while investors also kept a close eye on a key meeting between U.S. President Joe Biden and Chinese leader Xi Jinping.

FILE PHOTO: A woman wearing a protective mask, amid the COVID-19 outbreak, walks past an electronic board displaying Japan and other countries’ stock indexes outside a brokerage in Tokyo, Japan, September 21, 2021. REUTERS/Kim Kyung-Hoon

Biden and Xi Jinping opened their closely-watched talks warmly, with both leaders stressing their responsibility to the rest of the world to avoid conflict.

MSCI’s broadest index of Asia-Pacific shares outside Japan rose 0.27% to a 2-1/2 week high, while Japan’s Nikkei gained 0.39%.

“Investors will be keeping a close eye on the first Biden-Xi summit to see if the exchange will lead to any amelioration in an already fraught relationship,” said David Chao global market…

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