Asian shares surged on Monday; U.S.-China getting close to trade deal

Asian shares surged on Monday, with a broad regional gauge hitting more than 14-week highs, as growing optimism over U.S.-China trade talks and upbeat U.S. job data boosted global investors’ appetite for riskier assets.

Asian Shares

  • MSCI’s broadest index of Asia-Pacific shares outside Japan (MIAPJ0000PUS) jumped 1.08%, touching its highest level since July 24, and on track for its biggest one-day gain since Oct. 11.
  • Equity markets in Europe were set to follow Asia higher, with pan-region Euro Stoxx 50 futures (STXEc1) up 0.53%, German DAX futures (FDXc1) 0.49% higher and FTSE futures (FFIc1) rising 0.41% in early trading.
  • In Asia, Hong Kong’s Hang Seng (HSI) rose 1.36%.
  • Seoul’s Kospi (KS11) added 1.43%.
  • In mainland China, blue chips (CSI300) were up 0.72%, and Australian shares (AXJO) were 0.27% higher.
  • The Dow Jones Industrial Average (DJI) rose 1.11%.

Currency Markets

  • In the currency market, the dollar was up 0.06% against the yen at 108.23 , and the euro was up 0.02% to buy $1.1167.
  • The dollar index (DXY), which tracks the greenback against a basket of six major rivals, was down 0.02% at 97.222.

Commodities

  • Gold was slightly lower as investors moved into riskier assets. Spot gold was trading at $1,511.52 per ounce, down 0.13%.
  • Global benchmark Brent crude (LCOc1) was off 0.57% at $61.34 per barrel.
  • U.S. West Texas Intermediate crude (CLc1) was 0.55% lower at $55.89.

 

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