Asian shares hit 19-month highs as focus turns to US-China trade deal

South Korea’s trade-sensitive Kospi added 0.73% and Hong Kong’s Hang Seng was up 0.74%, while shares in Taiwan added 0.6% in the first trading day after Taiwanese re-elected President Tsai Ing-wen by a landslide on Saturday.

“A calmer geopolitical backdrop and the signing of the US-China Phase 1 agreement is, on balance, favourable for global growth,” said Joseph Capurso, an FX strategist at CBA. Xie said China’s fourth-quarter and 2019 full-year GDP figures, due on Friday, are also likely to draw close scrutiny as investors look for signs that improvements seen in recent manufacturing surveys are reflected in broader growth and investment figures.Wall Street slipped and bonds rallied on Friday when data showed US nonfarm payrolls missed forecasts with a rise of 145,000, while wages and hours worked were soft.

The dollar was firm on the yen at 109.61 but faces tough resistance around 109.70 where rallies have repeatedly failed in the past few months.

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