Is trade war over?
Financial markets in Asia were looking for direction for a while in the middle of the week. But then they headed up under the influence of positive developments in the Sino-US trade relations negotiations.
The United States and China are in the final stages of negotiating a very important agreement. This is how US President Donald Trump tuned investors in Asian markets to a positive note. This was later joined by the Chinese Department of Commerce, which indicated that the consensus on key things in setting up trade relations with the US was close.
All major stock exchanges across Asia responded to good news with a growth. The Tokyo Nikkei Index strengthened by almost half a percent. Similarly strengthened shares in Seoul, South Korea and Shanghai, China.
Among the Chinese titles stood out especially shares of online retailer Alibaba, which strengthened by almost three percent. The titles traded in Hong Kong, where is still uncertainty about political developments, remained slightly back.
Optimism also moved from Asian markets to Europe and the United States. Frankfurt’s DAX added less than half a percent, Wall Street even grew a few tenths of a percentage point faster – Dow Jones added 0.63 percent.