Asia Powers Ahead on Trade Deal
Asia-Pacific markets rallied Monday after China and the U.S. announced a trade deal, including a 90-day pause on tariffs and a drop in reciprocal tariffs by 115 percentage points.In Japan, the Nikkei 225 gathered 140.93 points, or 0.4%, to 37,644.26.In Hong Kong, the Hang Seng rocketed 681.72 points, or 3%, to 23,459.46.CHINA In China, the CSI 300 restored 44.45 points, or 1.2%, to 3,890.61While there is no clarity on how the global economy - and the U.S. and Chinese markets - will be impacted by the duties, the head of conviction equities at asset management house Vontobel believes that more clarity will come, in the next two months.In other markets, Markets in Singapore were closed for holiday. In Korea, the Kospi index added 30.06 points, or 1.2%, to 2,667.33In Taiwan, the Taiex Index popped 214.5 points, or 1%, to 21,129.54In New Zealand, the NZX 50 climbed 71.68 points, or 0.6%, to 12,676.75.In Australia, the ASX 200 nosed ahead 2.33 points to 8,233.53
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