Sun, April 14, 2024

Asian Market Improves as Phase One Launches

Asian market: Stock market in the city

Chinese stock figures slow as the US-China’s “Phase One” agreement affect the Asian market. The dollar imports and exports fell as details of their trade agreement emerged.

While the agreement helped boost Asian figures, Chief Market Strategist at JPMorgan Tai Hui warns potential investors. 

The world saw previous attempts for trade truces crumble. Hui claims CEOs aren’t going to start investing because of the latest agreement between the two sides.

Both South Korea’s KS11 and Shanghai blue chips CSI300 added 1.4%. 

Nikkei futures increased 1.3% from Friday’s 21,798 close. 

MSCI’s Asia-Pacific shares outside Japan rose 1.1% in light trade. 

Singapore’s central bank eased monetary policy on Monday for the first time in three years. Reports claim the trade talks contributed to this significantly. 

American Index Dow Closes Higher 

The American Index, Dow Jones Industrial Average, closed 317 points higher last Friday. The hike was lower than their 500-point close before the US-China agreement emerged.

The Asian market’s risk appetites increased as the two countries wrapped up “Phase One” last Friday. Both sides claim they’re close to ending their trade war. 

More definitive details about the emerging agriculture, currency, and intellectual property protection deal will take four to five weeks. The agreement represents the biggest step after their 15 month-long tension. 

Phase Two’s negotiations will begin when they conclude Phase One, further agitating the Asian market.

Furthermore, a Eurasia group practice head of China and Northeast Asia Michael Hirson claims they possibly won’t reach Phase Two. He says both countries would have to make “major political concessions” to advance from the current phase.

Trump claimed he wouldn’t stop until China changes its intellectual property, trade, and industrial policy practices. He argued these policies costed millions of US jobs.

With further escalation, the trade war will slice 2% and 0.6% of US and China’s real GDP, respectively.

YOU MAY ALSO LIKE

Market Trends

Quick Look: Cronos Group stock fell by 2.53%, closing at $3.47. Trading

The Central Bank of Russia and crypto, nickel

Quick Look: Nickel smelting causes local communities severe health problems and environmental

Tractable raises $60M to grow in accident - robot recovery

Quick Look: The Robot Market in China is projected to grow from

COMMENTS

Leave a Comment

Your email address will not be published. Required fields are marked *

User Review
  • Support
    Sending
  • Platform
    Sending
  • Spreads
    Sending
  • Trading Instument
    Sending

BROKER NEWS

Axi Renews CFD Sponsorship Deal with Football

The Australian Federal Court has ordered Prospero Markets, a trading broker for forex and CFDs, to shut down and has appointed a liquidator to refund client money. This move follows a demand from

BROKER NEWS

Broker News

Axi Renews CFD Sponsorship Deal with Football

The Australian Federal Court has ordered Prospero Markets, a trading broker for forex and CFDs, to shut down and has appointed a liquidator to refund client money. This move follows a demand from the