Relief in Asian markets, but no big gains as news already priced in

Singapore

ASIAN markets were mostly relieved on Thursday following the signing of the much-awaited partial trade deal between Washington and Beijing which seemed big on details but not surprises.

Analysts rejoiced as the first stage of the pact - part of a broader deal to be hatched out at an undetermined time - puts a lid on worsening tensions in coming months and marks a breakthrough in a nearly two-year- long spat between the superpowers that has hurt the global economy.

This also gives traders much-needed space to focus on other matters such as macro fundamentals, corporate earnings and improvements…