Asian equities seen gaining 3-4% following 'Phase One' deal

Singapore

WITH the US-China "Phase One" deal agreed last Friday diminishing a key overhang for equities and building hope toward a "Phase Two" agreement, Nomura expects Asian stocks to gain 3-4 per cent to close the year out.

Chetan Seth, Nomura's Asia ex-Japan equity strategist, said: "With tariffs postponed and a mini deal in place, a positive narrative is forming that might point to markets feeling the worst is over. Therefore, we are likely to see greater interest in equities."