Asian markets closed in green on Monday after US President Donald Trump and Chinese President Xi Jinping agreed to a 90-day truce on their escalating trade war. While Trump agreed to hold off on his threat to slap 25 percent tariffs on $200 billion worth of Chinese goods from January 1, Beijing agreed to buy very substantial amount of agricultural, energy, industrial and other products from the US to narrow its trade gap with the US. Japanese shares ended higher and hit a six-week high despite the dollar retreating to the mid-113 yen range on expectations of slower pace of US rate hikes and ahead of Fed Chair Jerome Powell's testimony before a congressional Joint Economic Committee due this week.
Asian Indices | Last Trade | Change in Points | Change in % |
Shanghai Composite | 2,654.80 | 66.61 | 2.51 |
Hang Seng | 27,182.04 | 675.29 | 2.48 |
Jakarta Composite | 6,118.32 | 62.20 | 1.02 |
KLSE Composite | 1,699.72 | 19.86 | 1.18 |
Nikkei 225 | 22,574.76 | 223.70 | 0.99 |
Straits Times | 3,190.62 | 73.01 | 2.29 |
KOSPI Composite | 2,131.93 | 35.07 | 1.64 |
Taiwan Weighted | 10,137.87 | 249.84 | 2.46 |
