Likely US-China trade deal lifts markets

STI adds 30.68 points or 0.95 per cent to close at 3,251.08; Japan, China, Hong Kong and Australia also end higher

Published Mon, Mar 4, 2019 · 09:50 PM

A BUSY week of economic data releases lies ahead, but on Monday, good ole trade was the main market mover.

IG market strategist Pan Jingyi said: "The wind beneath the wings for markets had evidently been developments on US-China trade, this time with news highlighting the closing in on a deal and the prospective Trump-Xi summit to formalise it."

In Singapore, the Straits Times Index (STI) added 30.68 points or 0.95 per cent to close at 3,251.08.

Elsewhere in Asia, markets in Australia, Japan, mainland China and Hong Kong ended higher. Of the lot, the Shanghai composite index gained the most, adding 1.1 per cent or 33.57 points to close at 3,027.58. However, South Korea closed lower, unable to shake off the effects of the US-No…

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