Asian markets mostly traded higher on Monday, following positive developments in U.S.-China trade negotiations. Top negotiators from both countries announced that they had reached a consensus on key disputes, paving the way for Presidents Donald Trump and Xi Jinping to meet later this week to finalize a trade deal.
Asian equity markets broadly rose on optimism surrounding the trade talks, with major indices hitting new highs in Japan, China, and South Korea. This positive sentiment also strengthened currencies such as the offshore yuan and the Australian dollar, as investors anticipated a potential breakthrough in the ongoing trade discussions.
Meanwhile, economic data from China showed a mixed picture: industrial profits are on the rise, while foreign direct investment has decreased. In response to market conditions and to maintain stability, the People’s Bank of China (PBoC) has been actively injecting liquidity into the financial system.
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Stay tuned for further updates as the trade talks progress and new economic data emerge.
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