Asia-Pacific markets traded higher on Monday as investors awaited news on whether the 12 August deadline for the United States-China tariff truce would be extended.
U.S. Commerce Secretary Howard Lutnick indicated last Thursday that a 90-day extension of the truce is likely, marking the clearest signal from the U.S. following last week’s bilateral talks in Stockholm.
By 12:00 pm AEST (2:00 am GMT), Australia’s S&P/ASX 200 had gained 0.3%, while South Korea’s Kospi 200 ticked up 0.1%.
Japan’s Nikkei 225 remained closed for a public holiday.
In the United States last Friday, major benchmarks closed higher with the Dow Jones Industrial Average up 0.4%, the S&P 500 rising 0.8%, and the Nasdaq Composite increasing 1%.
Commodity markets saw Brent crude rise 0.2%, ending a six-day losing streak to close at US$66.59 per barrel. Spot gold remained flat at multi-week highs, trading at $1,397.77 per ounce.
Chinese equities closed slightly in the red, with the Shanghai Composite slipping 0.1% to 3,635.1 and the CSI 300 easing 0.2% to 4,105.0.
Hong Kong’s Hang Seng Index fell 0.9%, closing at 24,858.8, while India’s BSE Sensex dropped 1% to 79,857.8, marking its lowest level since May 9.
European markets showed a mixed picture: the FTSE 100 fell 0.1% to 9,095.7, the DAX eased 0.1% to 24,192.5, and the CAC 40 rose 0.4% to 7,743.0.
