Asia-Pacific markets traded mixed on Tuesday (5/13), following a big rally on Wall Street after the US and China agreed to a trade deal. Hong Kong stocks fell at the open with the Hang Seng Index down 1.02% and the Hang Seng Tech Index down 1.55%. This was a reversal of strong gains posted by both indices in the previous session. Meanwhile, mainland China's CSI 300 index started the day flat. In Japan, the benchmark Nikkei 225 index jumped 1.85%, while the broader Topix index gained 1.36%. In South Korea, the Kospi index rose 0.26% while the small-cap Kosdaq index gained...
The Nikkei 225 jumped 2.1% to above 38,400, while the broader Topix index gained 1.8% to 2,790 on Tuesday, as Japanese equities hit a multi-month high following a strong rally on Wall Street. The market gains came after the U.S. and China agreed to temporarily lower tariffs, easing fears of a prolonged trade war and reducing the risk of a global recession. In a related development, Japanese Prime Minister Shigeru Ishiba stressed that Japan would not accept an initial trade deal with the U.S. unless it included provisions on the auto sector, urging Washington to remove 25% tariffs on Japanese...
Hong Kong shares plunged 343 points, or 1.5%, to 23,205 during the morning session on Tuesday, ending an eight-day winning streak as investors locked in profits after the Hang Seng hit a 1-1/2-month high. U.S. futures also edged lower ahead of a key inflation report. At the same time, concerns over persistent deflation in China resurfaced after consumer prices fell for a third straight month in April, while factory-gate prices posted their sharpest drop in six months. However, losses were somewhat tempered by a significant lull in U.S.-China trade tensions after high-level talks, with the...