Asia-Pacific markets rose on Monday on optimism that U.S.-China trade tensions could ease after the two superpowers held talks in Switzerland over the weekend.
Both countries touted a positive conclusion to high-stakes trade talks, with U.S. officials touting a deal to reduce their trade deficit, while Chinese leaders said they had reached an "important consensus."
U.S. Treasury Secretary Scott Bessent noted that the talks resulted in "significant" productivity gains. Meanwhile, Chinese Vice Premier He Lifeng said a joint statement containing "good news for the world" would be released on Monday.
Mainland China's CSI 300 Index rose 0.42% in early trade, while Hong Kong's Hang Seng Index gained 0.86%.
Japan's benchmark Nikkei 225 index rose 0.29% while the broader Topix index was flat. In South Korea, the Kospi index rose 0.59% while the small-cap Kosdaq index gained 0.47% in choppy trading. In Australia, the benchmark S&P/ASX 200 index rose 0.4%. Investors will be keeping a close eye on Indian stocks, following India's ceasefire with Pakistan over the weekend. The two rivals have been locked in a fierce exchange of fire — the worst in nearly three decades — with missiles and drones fired at each other's military installations.
U.S. futures jumped as investors awaited more details on a trade deal between the U.S. and China.
That followed a decline in all three major Wall Street benchmarks on Friday.
The 30-share Dow Jones Industrial Average fell 119.07 points, or 0.29%, to close at 41,249.38. Meanwhile, the broad-based S&P 500 index fell 0.07%, closing at 5,659.91, while the Nasdaq Composite ended the session little changed, ending at 17,928.92. (Newsmaker23)
Source: CNBC
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