The stock markets in East Asia are going up sharply at the start of the week. The trigger is statements from negotiators from the USA and China.
They had made positive comments about the trade talks at the weekend. They spoke of constructive discussions ahead of a meeting planned for this week between US President Donald Trump and Chinese leader Xi Jinping. “I think we have a very successful framework for leaders to discuss on Thursday,” US Treasury Secretary Scott Bessent said after two days of trade negotiations in Malaysia. Meanwhile, there was already news from Vietnam that the country and the USA agreed on a framework for a trade agreement on Sunday.
In Tokyo, the Nikkei 225 index rose by 2.2 percent to 50,367 points, surpassing the 50,000 point mark for the first time. In Seoul (+2.2%), the Kospi climbed above the 4,000 point level for the first time.
Profits in China are somewhat more subdued. The Shanghai Composite and the Hang Seng index in Hong Kong rose 1.0 percent each. Another positive factor here is that Chinese industrial profits rose sharply again in September. They increased by 21.6 percent compared to the same month last year, after already rising by 20.4 percent in August, thus ending a three-month phase of declines. The latest increase is due to a low comparison base in the same period last year and to government measures to reduce excess capacity.
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