Asian stocks tracked global peers higher on Tuesday while safe-haven bonds sold off as signs Sino-U.S. trade hostilities might be easing helped restore investor confidence after the previous session’s rout.
Supporting the market mood, U.S. President Donald Trump on Monday flagged the possibility of a trade deal with China and said he believe Beijing was sincere in its desire to reach an agreement. Global markets had been roiled at the start of the week by new tariffs from the world’s two largest economies.
MSCI’s broadest index of Asia-Pacific shares outside Japan was up 0.2% after dropping 1.3% the previous day.
South Korea’s KOSPI added 0.8% and Japan’s Nikkei rose 1%.
Equity markets may have found traction for now but the longer-term outlook for risk assets, buffeted repeatedly by trade concerns, remained shaky.
Source : Reuters