Asia Markets: Asian markets surge on renewed hopes of trade deal [MarketWatch]
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Source: MarketWatch
Asian markets surge on renewed hopes of trade deal Asian markets surged in early trading Wednesday, following new hope on the trade front and strong gains on Wall Street. President Donald Trump tweeted Tuesday that he’d had “very good telephone conversation” with China’s President Xi Jin ping, and said they would have “an extended meeting” during the G-20 meeting in Osaka, Japan, later this month. That was enough to rally Wall Street, which saw gains of around 1% for the Dow Jones Industrial Average and the S&P 500 and the Nasdaq Composite. Investors are also anticipating that the Fed will indicate a willingness for future interest-rate cuts Wednesday, in the summary of its two-day meeting. Japan’s Nikkei NIK, +1.66% gained 1.6%, despite data that showed exports in May fell for a sixth straight month , and Hong Kong’s Hang Seng Index HSI, +2.40% surged 2.4%. The Shanghai Composite SHCOMP, +1.49% rose 1.4% while the smaller-cap Shenzhen Composite 399106, +2.19% jumped 2.1%.
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