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Asian markets end mostly higher on Monday

01 Jul 2019 Evaluate

Asian markets ended mostly higher on Monday after the US and China agreed to restart trade talks on the sidelines of the G-20 summit and decided to not impose additional tariffs on each other's products. The Unites States agreed to put off additional tariffs on Chinese goods indefinitely while removing some curbs on Huawei Technologies Co. buying high-tech equipment from the US. In response, China agreed to make unspecified new purchases of US farm products and return to the negotiating table. Chinese shares ended higher after China said it would soften or lift restrictions on foreign investment in new sectors from July 30. Investors shrugged off data showing that Chinese manufacturing activity contracted for the first time in four months in June on trade disputes. The Caixin manufacturing PMI dropped to 49.4 from 50.2 in May as trade tensions caused renewed declines in total sales, export orders and production. Further, Japanese shares ended higher as the safe-haven yen slid on improved risk sentiment and tech shares gained ground on an easing of restrictions on Huawei. Meanwhile, Hong Kong was closed for a public holiday.

Asian Indices

Last Trade           

Change in Points

Change in %

Shanghai Composite

3,044.90
66.02
2.22

Hang Seng

-
-
-

Jakarta Composite

6,379.69
21.06
0.33

KLSE Composite

1,683.62

11.49

0.69

Nikkei 225

21,729.97
454.05
2.13

Straits Times

3,372.26
50.65
1.52

KOSPI Composite

2,129.74
-0.88
-0.04

Taiwan Weighted

10,895.46
164.63
1.53

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