Asia markets traded mixed on Thursday after the United States and China ended some uncertainties for the world economy by signing a partial trade agreement.
Japan’s Nikkei 225 rose fractionally to 23,933.13 while the Topix index was a touch lower at 1,728.72.
In South Korea, the Kospi index picked up a gain of 0.77% to 2,248.05 as shares of tech giant Samsung Electronics advanced 2.88% and Hyundai Motor jumped 3.04%.
Hong Kong’s Hang Seng index added 0.11% in late afternoon trade, but the Chinese mainland markets struggled to climb. The Shanghai composite declined 0.52% to 3,074.08 while the Shenzhen composite fell 0.15% to 1,811.56 and the Shenzhen component ended near flat.
Earlier this week, data showed Chinese imports from the U.S. rebounded in November and December.
Australia’s benchmark ASX 200 rose 0.67% to 7,041.80 as most sectors finished higher. The heavily-weighted financial subindex rose 1.07% as the country’s major banking stocks advanced.
“The ‘Phase-1’ deal has been inked, and the most positive aspect of the deal is that this materially diminishes uncertainty around US-China trade relations in the short-term,” Vishnu Varathan, head of economics and strategy at Mizuho Bank, wrote in a morning note.
Source Article from https://www.cnbc.com/2020/01/16/asia-markets-jan-16-us-china-trade-agreement.html
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