Just one day is left before the historic moment. On January 15, U.S. President Donald Trump will sign a “Phase One” trade deal with Chinese officials. The upcoming event improved market sentiment across the Asia Pacific region.
Moreover, the U.S. decided to remove China from the currency manipulator list on Monday. The U.S. Treasury added China to this list five months ago. U.S. officials motivated this move by saying that China was keeping its currency lower.
On Monday, major U.S. stock indexes had a great day. The S&P 500 index gained 0.7% and finished the trading day at 3,288.13. It is important to mention that the S&P 500 reached a record high.
Furthermore, the Nasdaq Composite also strengthened its position as its index increased from 1% to 9,273.93. The Nasdaq Composite also jumped to an all-time high result. The famous company Tesla helped to boost the index.
On Monday, the Dow Jones Industrial Average gained 83.28 points or 0.3% to 28,907.05.
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Stocks around the world
As mentioned above, the market sentiment improved on Tuesday. In Japan, the Nikkei 225 gained 0.73% to close at 24,025.17. Another Japanese stock index which is the Topix also rose on January 14. Its index added 0.31% to 1,740.53. Japanese markets were closed on Monday but returned from a public holiday on Tuesday.
Meanwhile, in South Korea, the Kospi index rose 0.43% and finished the trading at 2,238.88.
Mainland Chinese markets were unable to benefit from the upcoming trade deal. The Shanghai composite declined 0.28% to close at 3,106.82. At the same time, the Shenzhen composite fell 0.23% to 1,818.13. The Shenzhen component decreased by 0.47% to end the trading day at 10,988.77.
In Hong Kong, the Hang Seng index also declined by 0.28% during the last hour of trade.
Investors, as well as analysts, are waiting to learn how the trade deal will influence the markets on Wednesday.