Asian markets ended higher on Tuesday on hopes of an interim trade deal between the United States and China. Sentiment improved further after report showed that Trump administration officials are debating removing some existing tariffs on Chinese goods to help seal a partial deal that would pause the trade war with Beijing as early as this month. Japanese shares closed up as traders returned to their desks after a long holiday weekend. Further, Chinese shares ended higher after China's Foreign Ministry said that President Xi Jinping and US President Donald Trump have been in continuous touch through ‘various means’. On the economic front, a private survey of China’s services sector showed activity slowing to an eight month low in October. The Caixin/ Markit services Purchasing Managers’ Index for October came in at 51.1, its lowest reading since February.
Asian Indices | Last Trade | Change in Points | Change in % |
Shanghai Composite | 2,991.56 | 16.07 | 0.54 |
Hang Seng | 27,683.40 | 136.10 | 0.49 |
Jakarta Composite | 6,264.15 | 83.81 | 1.36 |
KLSE Composite | 1,606.74 | 3.18 | 0.20 |
Nikkei 225 | 23,251.99 | 401.22 | 1.76 |
Straits Times | 3,248.63 | 12.23 | 0.38 |
KOSPI Composite | 2,142.64 | 12.40 | 0.58 |
Taiwan Weighted | 11,644.03 | 87.18 | 0.75 |
