Asia-Pacific markets rise after White House announces U.S.-China trade deal
Asia-Pacific markets rose Monday over optimism that U.S.-China trade tensions could de-escalate following the superpowers’ talks in Switzerland over the weekend.
Both countries alluded to a positive conclusion of the high-stakes trade talks, with U.S. officials touting a deal to reduce its trade deficit, while Chinese leaders said that they have arrived at an “important consensus.”
U.S. Treasury Secretary Scott Bessent noted that the talks yielded “a great deal” of productivity. Meanwhile, Chinese Vice Premier He Lifeng said a joint statement containing “good news for the world” would be released on Monday.
Japan’s benchmark Nikkei 225 added 0.36% in early trade while the broader Topix index moved 0.19% higher.
In South Korea, the Kospi index advanced 0.67% while the small-cap Kosdaq fell 0.24% in early trade.
Over in Australia, the benchmark S&P/ASX 200 increased 0.3%.
Futures for Hong Kong’s Hang Seng index stood at 22,761, pointing to a weaker open compared to the HSI’s last close of 22,867.74.
Source: CNBC
