Market Overview

Asia Markets, US Futures Continue To Surge On Trade Deal Optimism

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Asia Markets, US Futures Continue To Surge On Trade Deal Optimism

Markets in Asia Pacific and U.S. Futures continued to see growth on Tuesday in the aftermath of the announcement of phase one of the trade deal between the U.S. and China.

What Happened

The two countries said that they reached an agreement over the long-standing trade war on Friday. When the reports of the trade deal getting confirmed poured in a few hours earlier, markets in Asia made record gains.

The optimism seemed to have been short-lived as the markets traded more cautiously on Monday after the U.S. Trade Representative said that the trade deal was to be signed in January, and analysts cast doubts over the agreement's hazy details.

The markets opened on a record high in the U.S. on Monday after the trade deal announcement, and Asian markets reacting similarly to the next trading day.

Stock Market

Here's how the stock markets in Asia performed at press time:

China's Shanghai Composite traded 1.27% higher at 3,022.42, while Shenzhen Composite was up 1.45%.

Hong Kong's Hang Seng Index (HSI) traded 1.12% up.

Japan's Nikkei 225 added 0.47% at 24,066.12. Tokyo Stock Exchange's TOPIX added 0.59%.

South Korea's KOSPI was up 1.27% at 2,195.68.

India's SENSEX traded 0.86% higher, and NIFTY was up 0.80% on trade deal optimism, even as the country grappled with widespread protests.

US Futures

Dow Jones Futures were up 0.04% at 28,268.00.

S&P 500 Futures traded 0.09% up at 3,201.50.

NASDAQ 100 Futures were up 0.2% at 8,623.50.

 

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