Asia-Pacific markets started the week with moderate gains as investors digested the outcome of high-level trade negotiations between the United States and China held in Switzerland over the weekend.
By 11 am AEST (1 am GMT), Australia’s S&P/ASX 200 rose by 0.5% to fresh 11-week highs, South Korea’s Kospi 200 added 0.6%, and Japan’s Nikkei 225 edged up 0.2%.
Both Washington and Beijing signalled progress in the high-level negotiations. U.S. officials suggested that a deal aimed at reducing the American trade deficit was taking shape, while Chinese leaders described the talks as having reached an “important consensus."
U.S. Treasury Secretary Scott Bessent reported “substantial progress”, while Chinese Vice Premier He Lifeng added that a joint statement containing “good news for the world” would be issued later on Monday.
Wall Street ended last week mostly lower, with the Dow Jones Industrial Average losing 0.3%, the S&P 500 down 0.1%, and the Nasdaq Composite closing flat.
In commodities, Brent crude gained 1.7% to trade at US$63.91 per barrel, while spot gold rose 0.6% to US$3,325.39 per ounce.
The Chinese markets slipped on Friday. The Shanghai Composite was down 0.3% at 3,342.0, while the CSI 300 dipped 0.2% to 3,846.2. Hong Kong’s Hang Seng Index bucked the trend with a 0.4% gain, reaching 22,867.7.
Elsewhere, India’s BSE Sensex fell 1.1% to 79,454.5 amid broader regional uncertainty.
European markets closed the previous session in positive territory. London’s FTSE 100 rose 0.3% to 8,554.8, Germany’s DAX climbed 0.6% to 23,499.3, and France’s CAC 40 advanced 0.6% to 7,743.8.
