· Asian shares shook off a quiet start to reach new 19-month highs on Monday ahead of the expected signing of a Phase 1 China-U.S. trade deal, although markets have yet to see the details of the agreement.
On Monday afternoon in Asia, MSCI’s broadest index of Asia-Pacific shares outside Japan was 0.61% higher, touching its highest point since June 2018.
· China’s blue-chip index closed at a near 2-year high on Monday, amid strength in technology shares, as investors turned optimistic ahead of the signing of the Phase 1 trade deal between China and the United States.
Aiding sentiment was recent official rhetoric that called for bolstering of China’s capital market to propel its economy. ** The CSI300 index rose 1%, to 4,203.99, the highest close since February 2018. The Shanghai Composite Index gained 0.8% to 3,115.57.
· European stocks opened mixed on Monday as the U.S. and China prepare to sign a so-called “phase one” trade deal on Wednesday, while protests continue in Iran over the downing of a Ukrainian commercial airliner.
The pan-European Stoxx 600 hovered around the flatline in early deals, with tech stocks adding 0.3% while basic resources fell by 0.4%.
Reference: Reuters, CNBC
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