Swelling trade hopes lift Asian markets
US and China expected to reach "phase one" deal; Straits Times Index rises 0.38 per cent or 12.23 points to 3,248.63
ASIAN markets ended higher on Tuesday, following a record-setting session for US markets as the US and China showed signs of nearing a trade war truce.
The "phase one" deal is expected to forestall tariffs scheduled for Dec 15, but according to the Financial Times, the Trump administration is considering dropping the tariffs imposed in September as well, to seal the deal with China.
Singapore's Straits Times Index gained 0.38 per cent or 12.23 points to 3,248.63. Japan soared 1.8 per cent to its highest in nearly 13 months, and South Korea gained 0.6 per cent to a six-month high. Markets in Australia, New Zealand, China, Hong Kong and Malaysia all ended higher.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
Porsche posts Q1 profit drop on ramp-up costs
IBM plots US$730 million expansion of Canadian semiconductor site
Seatrium unit to fully redeem S$500 million worth of floating-rate bonds early
Yeo Guat Kwang, John Chen retiring from corporate boards
US: Wall St opens higher
Air China orders homegrown C919s in challenge to jet duopoly