Tue, February 07, 2023

Stocks in Asia, Phase One Deal and Coronavirus Treatment

Stocks and various factors

Stocks in the Asia Pacific mostly strengthened their positions on August 25. It is worth noting that South Korea’s stocks led gains among the region’s major markets. Kospi index added 1.58% to close at 2,366.73.

Moreover, Japanese stocks strengthened their positions on Tuesday. The Nikkei 225 gained 1.35% to 23,296.77. At the same time, the Topix index added 1.13% to 1,625.23.

However, mainland Chinese stocks were mixed by their close. For example, the Shanghai Composite dropped 0.36% to about 3,373.58. In the meantime, the Shenzhen Component was above the flatline at approximately 13,669.41. 

Also, Hong Kong’s Hang Seng index fell 0.26% to close at 25,486.22.

Australia’s S&P/ASX 200 gained 0.52% to close at 6,161.40. 

Stocks and top trade representatives Stocks and trade deal

On Monday, U.S. Trade Representative Robert Lighthizer and Treasury Secretary Steven Mnuchin discussed the implementation of phase one agreement with Chinese Vice Premier Liu He. 

According to the Office of the United States Trade Representative, both sides are ready to take the necessary steps to ensure the success of the agreement. Tensions between the largest economies in the world have the potential to create additional problems for the global economy. Thus, such statements are important to reassure investors. 

Let’s have a look at the airlines. Notably, shares of airlines in the Asia Pacific increased on Tuesday. For example, shares of China Eastern Airlines jumped 4% and shares of China Southern Airlines gained 5.19% in Hong Kong. 

Moreover, shares of ANA Holdings added 7.18%. Also, in Singapore, shares of Singapore Airlines rose 3.26%.

Interestingly, the S&P 500 rose 1% to 3,431.28 on Monday. For the first time in history, the index closed above 3,400. Moreover, the Dow Jones Industrial Average added 378.13 points or 1.3% to end its trading day at 28,308.46. Also, the Nasdaq Composite gained 0.6% to close at 11,379.72. As a result, the Nasdaq Composite also reached a record. 

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