Asia-Pacific markets were set to open higher on Monday, after top US and Chinese trade negotiators announced they had reached a framework. On many controversial issuesClear the way for US President Donald Trump and Chinese President Xi Jinping to sign the terms.
US Treasury Secretary Scott Besant In an interview with CBS News Trump’s proposed 100% tariff on Chinese imports is “effectively off the table.” He added that China is expected to buy significant soybeans and delay broad restrictions on rare earth exports. The US, however, will maintain the current export controls on China, Besant noted.
Japan’s benchmark Nikki 225 The index was set for a higher open, with its futures contract trading at 50,335 in Chicago and 49,560 in Osaka versus the index’s last close of 49,299.65.
The future of Hong Kong Hang Seng Index The index traded at 26,256 against its previous close of 26,160.15, pointing to a strong open.
Australia’s ASX/S&P 200 was trading up 0.54% at the open.
Last Friday, all three major averages closed as records Cold inflation data Investors were optimistic that the Federal Reserve could stay on its rate-cutting path, boosting the US economy and justifying high valuations for equities.
The Dow Jones Industrial Average It rose 472.51 points, or 1.01%, to 47,207.12, securing its first close above the 47,000 level. The S&P 500 It added 0.79% to 6,791.69, while Nasdaq Composite It climbed 1.15% to 23,204.87.
Investors are anticipating widely anticipated interest rate cuts by the Federal Reserve and big tech earnings reports.
— CNBC’s Sean Conlon and Pia Singh contributed to this report.
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