Asia markets close higher on positive signs

Investors buoyed by US suspending Mexico tariff plan, Fed rate cut hopes and better-than-expected key Chinese trade data

Published Mon, Jun 10, 2019 · 09:50 PM

Singapore Stocks

RISK-ON sentiment in the region was alive and kicking on Monday with the local market being no exception.

Singapore's Straits Times Index (STI) closed at 3,188.11, up 21.82 points or 0.7 per cent.

Investors were buoyed by US President Donald Trump suspending tariff plans on Mexico, weak US job data on Friday that raised the possibility of US Federal Reserve rate cuts and Chinese export data coming in above expectations.

IG market strategist Pan Jingyi said: "It does appear like the stars had been relatively aligned at the start of the week for Asia markets with the diffusion of trade tensions between US and Mexico and Fed cut hopes boosting markets. Moreover, key Chinese trade data also also surprised in terms of export…

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