Asian stock market indices were trading higher on Monday (25 July) as G20 nations pledged to support global growth at the summit in China, held over the weekend. The Shanghai Composite Index was also up 0.10% at 3,015.83 as of 7.49am GMT.
The G20 summit – an international forum for governments and central bank governors from 20 major economies – was dominated by discussions over the impact of the Brexit vote. Various finance chiefs said that Britain's vote to leave the European Union (EU) has increased risks for world economy. However, Chancellor Philip Hammond said that he believed the UK's negotiating position on Brexit – and that of the EU – would become clear "later this year".
"Markets are calming down after the initial shock from Brexit," Masayuki Kichikawa, chief strategist at Sumitomo Mitsui Asset Management was quoted as saying by Reuters. This comes as investors start expecting additional stimulus from central banks following the EU referendum.
Indices in the rest of Asia traded as follows on 25 July at 8.11am GMT:
|Hong Kong||Hang Seng Index||21,993.44||UP||0.13%|
Last Friday (22 July), the Dow Jones Industrial Average closed at 18,570.85, up 0.29%, while the FTSE 100 closed at 6,730.48, up 0.46%.
Among commodities, oil prices traded lower amid renewed oversupply fears. While WTI crude oil was trading lower by 0.29% at $44.06 (£33.52; €40.13) a barrel, Brent crude was trading 0.20% lower at $45.60 a barrel as of 8.17am GMT.