Asian markets gained in early trading Monday after the U.S. removed the threat of tariffs against Mexican imports on Friday.
Investors also appeared encouraged by a vow from G-20 finance officials Sunday to protect global trade despite rising tensions. At the meeting in Fukuoka, Japan, U.S. Treasury Secretary Steve Mnuchin had “a candid discussion on trade issues” with Yi Gang, governor of China’s central bank. Mnuchin gave no other details, but said he expected President Donald Trump will address the trade-talk stalemate with China’s President Xi Jinping later this month at the G-20 summit in Osaka, Japan.
surged 1.1% as revised data reaffirmed first-quarter GDP growth. Hong Kong’s Hang Seng Index
surged about 2% a day after hundreds of thousands of people filled the streets to protest a potential new extradition law with China, which many say encroaches on the rights of Hong Kong citizens. The Shanghai Composite
rose 0.7% and the smaller-cap Shenzhen Composite
gained 0.9% as data showed China’s exports rose slightly last month, although imports dropped sharply.South Korea’s Kospi
advanced 0.9% and benchmark indexes in Taiwan
rose around 1% each. Australia’s S&P/ASX 200 was closed for a holiday.
Among individual stocks, SoftBank Group
rallied in Tokyo trading, with Toyota
also rising. In Hong Kong, casino operator Galaxy Entertainment
surged, as did Sunny Optical
and oil producer CNOOC
. LG Electronics
fell in South Korea while SK Hynix
rose, and Taiwan Semiconductor
jumped in Taiwan.