TOKYO: Asian stocks edged up on Monday as Chinese shares reversed early losses, supported by hopes for progress in resolving the U.S.-China trade war, while sterling slipped after the British parliament delayed a crucial vote on a Brexit withdrawal deal.
The vote for an extension dealt a blow to optimism that a deal agreed last week would ensure Brexit happens with little economic disruption. Shares in Hong Kong also got a lift after Chinese bourses revised rules to allow mainland investors to buy Hong Kong-listed dual-class shares for the first time.
The S&P 500 fell 0.4per cent on Friday partly due to worries about fallout from the U.S.-China trade war. Underscoring the damage, Japan's exports fell in September for the 10th straight month, while South Korea's exports for the first 20 days of October dived 19.5per cent year-on-year, data on Monday showed.Chinese bourses on Friday revised rules that would allow Hong Kong-listed dual-class shares to be included in the Stock Connect scheme for the first time, which boosted shares of popular tech companies Xiaomi Corp and Meituan Dianping on Monday.
The leader of the House of Commons says the government plans to put the new Brexit deal to a debate and vote on Monday, but it is unclear if the speaker of the House will let this happen.
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