Hang Seng Index, Nifty 50, Kospi, Nikkei 225
Asia-Pacific markets are set to open higher on Monday after top U.S. and China trade negotiators announced they had reached a framework on several contentious issues, paving the way for U.S. President Donald Trump and Chinese President Xi Jinping to sign terms.
US Treasury Secretary Scott Bessent He said in an interview with CBS News: Trump’s proposed 100% tariff on Chinese imports is “effectively off the table”, it said. China is expected to make significant purchases of soybeans and postpone broad restrictions on rare earth exports, he added. However, Bessent noted that the United States will maintain existing export controls on China.
Japan’s reference point Nikkei 225 The index’s last close was 49,299.65, while the futures contract in Chicago was trading at 50,335 and its counterpart in Osaka was trading at 49,560, with the index set for a higher open.
Hong Kong futures Hang Seng Index It was traded at 26,256 compared to the index’s previous close of 26,160.15, indicating a stronger opening.
Australia’s ASX/S&P 200 index traded up 0.54% at the open.
Last Friday, all three major averages closed at records as cold inflation data increased optimism among investors that the Fed could stay on track to cut interest rates, supporting the U.S. economy and justifying higher valuations for stocks.
The Dow Jones Industrial Average rose 472.51 points, or 1.01%, to 47,207.12, its first close ever above the 47,000 level. The S&P 500 index increased by 0.79% to 6,791.69 points, and the Nasdaq Composite index increased by 1.15% to 23,204.87 points.
Investors are also looking forward to the Federal Reserve’s widely anticipated interest rate cut and a slew of Big Tech earnings reports.
— CNBC’s Sean Conlon and Pia Singh contributed to this report.
