Asia Mixed Following Wall Street Rally
Asia-Pacific markets traded mixed Tuesday, following Wall Street’s massive rally on the back of a trade deal between the U.S. and China, which includes a 90-day pause on tariffs and a drop in reciprocal tariffs by 115 percentage points.
In Japan, the Nikkei 225 gathered 539 points, or 1.4%, to 38,183.26. This marks the benchmark’s fourth consecutive positive session.
In Hong Kong, the Hang Seng gave back 441.19 points, or 1.9%, to 23,108.27.
CHINA
Analysts at Japanese investment bank Nomura have now upgraded Chinese equities to a “tactical overweight.”
In China, the CSI 300 inched up 5.65 points, or 0.2%, to 3,896.26.
Overnight stateside, stocks soared as investors’ fears of a recession in the U.S., sparked by a trade war with China, were abated after the two superpowers arrived at a deal.
In other markets,
In Korea, the Kospi index edged higher 1.09 points to 2,608.42
In Taiwan, the Taiex Index popped 200.6 points, or 1%, to 21,330.14.
In Singapore, the Straits Times index returned to trading after a long weekend with a slight gain of 1.09 points to 2,608.42
In New Zealand, the NZX 50 climbed 110 points, or 0.9%, to 12,786.75.
In Australia, the ASX 200 nosed ahead 35.46 points, or 0.4%, to 8,268.99
