Asia markets close higher on positive signs
Investors buoyed by US suspending Mexico tariff plan, Fed rate cut hopes and better-than-expected key Chinese trade data
RISK-ON sentiment in the region was alive and kicking on Monday with the local market being no exception.
Singapore's Straits Times Index (STI) closed at 3,188.11, up 21.82 points or 0.7 per cent.
Investors were buoyed by US President Donald Trump suspending tariff plans on Mexico, weak US job data on Friday that raised the possibility of US Federal Reserve rate cuts and Chinese export data coming in above expectations.
IG market strategist Pan Jingyi said: "It does appear like the stars had been relatively aligned at the start of the week for Asia markets with the diffusion of trade tensions between US and Mexico and Fed cut hopes boosting markets. Moreover, key Chinese trade data also also surprised in terms of export…
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
Tesla cuts US prices by US$2,000 as sales slow, inventories swell
Volkswagen workers vote decisively to unionise in Tennessee
Sony deal for Paramount would draw added regulatory scrutiny
Bitcoin 'halving' has taken place: CoinGecko
Lululemon to shutter Washington distribution center, lay off 128 employees
Wall Street bonus rules return to regulatory agenda in third try