Asian stocks increased by new US-China trade progress

Tuesday 1 September 2020 12:14 CET | News

Asian stock markets have observed an increase following the US-China progress in trade talks, and as hopes of new coronavirus treatments boosted broader sentiment among global investors.

MSCI’s broadest index of Asia-Pacific shares outside Japan was up 0.1% and was trading just below a two-year high. Japan’s Nikkei rose 1.4%, while banking stocks led Australia’s S&P/ASX 200 up 0.34%. Futures suggest a positive start to Europe’s trading day, with Euro STOXX 50 futures up 0.4% and FTSE futures up 0.3%. S&P 500 futures extended modest gains in Asia and were last up 0.4%.

The upbeat sentiment in Asia followed reports that top US and Chinese officials see progress in resolving concerns around the Phase 1 trade deal reached between the two countries in January 2020. Markets have also been supported by broader optimism about medical solutions to end the coronavirus pandemic, according to Reuters.

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Keywords: Asia, stocks, US China trade, US, China, trade, coronavirus, treatment, global investor, MSCI, APAC, Japan, Nikkei, Australia, S&P, ASX, futures, Europe, Euro STOXX, FTSE, Phase 1 trade deal
Categories: Banking & Fintech
Countries: World
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