Asian markets mostly rise on trade optimism
Hong Kong’s Hang Seng Index (HSI) gained 0.2%, after US President Trump suggested a trade deal with China might come soon.Trump told reporters Wednesday at the United Nations in New York that a US-China deal could come sooner “than you think,” according to multiple reports.The news cheered American investors on Wednesday, with US stock markets having their best day in two weeks.”Investors have been ‘trade war’ bearish for so long that any sliver of optimism is cheered,” wrote Stephen Innes, a market strategist for Asia Pacific at AxiTrader.Japan’s Nikkei (N225) also edged up 0.2%, after Trump and Japanese Prime Minister Shinzo Abe signed a trade deal Wednesday, which reduced tariffs on some agricultural and industrial goods for both sides. “We welcome these achievements as tangible evidence of the strength of the relationship between our two nations,” the two leaders said in a joint statement.China’s Shanghai Composite Index (SHCOMP) opened higher, but slid into negative territory in the morning trade and lost 0.7%. On Wednesday, the US imposed sanctions on several Chinese companies and their executive officers for alleged involvement in transporting oil from Iran.”We’re telling China and all nations, know that we will sanction every violation of sanctionable activity,” Secretary of State Mike Pompeo said at a conference organized by the group United Against Nuclear Iran.Elsewhere in the regions, Korea’s Kospi (KOSPI) added 0.1%. CNN’s Nicole Gaouette and Jennifer Hansler contributed to the report.
