Asian Stocks Rebound as Investors Assess Impact of Trade War
(Bloomberg) -- Asia stocks rebounded as concerns over the possibility of full-scale trade war between the world’s two biggest economies eased. Chinese equity markets reopened after a long weekend.
The MSCI Asia Pacific Index gained 0.5 percent 172.48 as of 6:07 p.m. in Hong Kong, led by gains in healthcare stocks. Hong Kong equities capped their best day in almost a month as investors piled into beaten-down shares.
U.S. President Donald Trump said Beijing will relax its restrictions “because it’s the right thing to do,” and added that deals will be made on tax reciprocity and intellectual property. Investors focus will now turn to China’s Boao Forum, where President Xi Jinping is among senior officials scheduled to speak. All major U.S. equity indexes on the cash market ended last week lower as data showed March payrolls were cooler than economists forecast.
“Investors started to realized that the risk from a trade war between U.S. and China is quite manageable and the impact should be limited to other countries in Asia, particularly those in Southeast Asia,” Jeffrosenberg Tan, head of investment strategy at PT Sinarmas Sekuritas, said. “The Federal Reserves might be more dovish after the payroll date which is good for the regional currencies.”
- Topix index +0.4%, Nikkei 225 +0.5%
- Japanese Stocks Advance, Supported by Banks, Foods Companies
- Hang Seng Index +1.3%, Hang Seng China Enterprises Index +0.9%, Shanghai Composite +0.2%
- Hong Kong Stocks Jump in Volatile Trade; Geely, WH Group Surge
- Kospi index +0.6%
- Kospi’s Gain Reminds Earnings Season Can Blot Out Trade Angst
- S&P/ASX 200 +0.3%, New Zealand’s S&P/NZX 50 +0.7%
- Mineral Resources to Buy Atlas Iron in Scrip Deal at 59% Premium
- India’s Sensex +0.5%
- The Top Indian Mid-Cap Stock Is a Domino’s Pizza Operator
- Straits Times Index +0.2%, Malaysia’s KLCI +0.7%, Jakarta Composite Index +1.2%, Thailand SET +0.7%, Vietnam’s VN Index +0.4%
- KrisEnergy Rises to Highest in Two Months After Keppel Agreement
- Foreigners Turned Buyers of Malaysian Stocks Last Week: MIDF
- Indocement Gains as Mirae Asset Sees Improving Cement Sales
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