How Navarro’s Comments Helped to Boost Stocks

The coronavirus pandemic continues to dominate the headlines. However, there are other important issues as well. For example, the trade deal between the U.S. and China. The trade war between the countries mentioned above was one of the main topics of discussion for more than a year. Recently, the White House trade advisor talked about the future of the trade deal. However, Peter Navarro clarified his previous comments. Hopefully, he explained his position and this news helped to boost stocks in Asia.

As a reminder, the partial trade deal that dates back to January. Importantly, even a partial trade deal is a huge achievement for both sides. At the moment, there is no need to create additional problems. Moreover, the governments of both countries should understand the severity of the coronavirus crisis. Also, they should try not to provoke each other.

Stocks in Asia and trade deal

It was a positive day for stocks in the Asia Pacific. As stated above, White House trade advisor Peter Navarro clarified his position. Hopefully, the U.S.-China trade deal is not over.

On Tuesday, Hong Kong’s Hang Seng index leg gains among the region’s major market. The Hang Seng index gained 1.62% to close at 24,907.35. Interestingly, shares of Chinese tech giant Tencent reached a new record. Moreover, shares of Tencent rose as high as 498.60 Hong Kong dollars per share before finishing the trading day 4.89% higher.

Mainland Chinese stocks also saw gains on June 23. The Shanghai Composite added 0.18% to around 2,970.62. In the meantime, the Shenzhen Component rose 0.782% to about 11,794.01.

Also, in Japan, the Nikkei 225 gained 0.5% to close at 22,549.05. At the same time, the Topix index added 0.51% to finish its trading day at 1,587.14.

South Korea’s Kospi index gained 0.21% to close at 2,131.24 and Australia’s S&P/ASX 200 rose 0.17% to 5,954.40.