TRADE optimism that buoyed US markets on Friday had a similar effect on Asian markets on Monday, as investors clung to positive comments about progress on a US-China trade deal.
Echoing comments made by the US and China on Friday, US Commerce Secretary Wilbur Ross told leaders at the 35th Asean Summit in Bangkok that the two countries were making progress on their trade deal, and an agreement to walk back some of the tit-for-tat tariffs was"very far along". The overall boost to sentiment lifted the Straits Times Index as much as 0.6 per cent in the morning session. It retreated during the rest of the day, eventually closing 0.22 per cent or 6.97 points higher to 3,236.40.
Turnover was 1.14 billion securities worth S$1.15 billion, with gainers outnumbering losers 240 to 175.Other regional markets hung onto their gains more successfully, such as Hong Kong, which rallied 1.65 per cent to a three-month high, and South Korea, which closed up 1.43 per cent to a four-month high. Indices in China, Australia, New Zealand and Malaysia all improved as well. Financial markets in Japan were closed for a public holiday.
Source: News Formal (newsformal.com)
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Singapore Latest News, Singapore Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
US trade secretary says 'hope' is to avoid new auto tariffsNEW YORK: After some 'very good conversations' with automakers in the European Union, Japan and elsewhere, the United States may not need to ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
Gold prices dip on trade deal optimism, strong US jobs data[BENGALURU] Gold prices slipped on Monday on signs that a US-China trade deal could be signed this month and as a string of strong economic data bolstered investors' appetite for riskier assets, taking some shine off the precious metal. Read more at The Business Times.
Source: BusinessTimes - 🏆 15. / 51 Read more »
US Commerce Secretary meets Chinese Premier Li as progress seen on trade[BANGKOK] US Commerce Secretary Wilbur Ross met Chinese Premier Li Keqiang on Monday afternoon at a regional summit in Bangkok, a person familiar with the discussion said. Read more at The Business Times.
Source: BusinessTimes - 🏆 15. / 51 Read more »
Singapore stock watch: Manulife US Reit, Eagle Hospitality Trust, ISDN, Pacific StarSINGAPORE - The following companies saw new developments that may affect trading of their shares on Monday (Oct 4):. Read more at straitstimes.com.
Source: The Straits Times - 🏆 8. / 63 Read more »
Citi drops off China property website Fangdd's US$78m US IPO after fee dispute: sources[HONG KONG] After months of work, Citigroup Inc was absent from a Chinese real estate website's US$78 million US public offering after a dispute over fees, according to people familiar with the matter. Read more at The Business Times.
Source: BusinessTimes - 🏆 15. / 51 Read more »
Regional leaders skip Asean-US summit, Trump calls for 'special summit' in US next yearSINGAPORE - Top Asean leaders did not attend Monday's meeting with the United States, with the majority opting to send their deputies instead.. Read more at straitstimes.com.
Source: The Straits Times - 🏆 8. / 63 Read more »