US-UK Trade Deal Sparks Market Momentum Amid Tariff Talks
Japanese stocks rallied on Friday, buoyed by a strong dollar and a trade agreement between the US and UK. Bitcoin surged, approaching January highs, while oil continued its ascent. Cautious optimism surrounds Sino-US talks, as the limited UK deal raises questions about future trade agreements.
On Friday, Japanese stocks saw substantial gains, bolstered by a rising dollar against the yen following a trade agreement between the United States and the United Kingdom. The US-UK deal raised hopes for progress in broader tariff discussions with other nations.
Market enthusiasm was further fueled by Bitcoin climbing to its highest point since January, alongside a rise in US crude prices. Despite the optimism, concerns linger about the limited scope of the UK trade agreement, potentially tempering expectations for upcoming Sino-US trade talks scheduled for Saturday in Switzerland.
Across Asia, markets displayed mixed responses. Japan's Nikkei climbed 1.2%, while Australia's stocks rose 0.4%. Hong Kong's Hang Seng saw a 0.2% increase. In technology news, the cryptocurrency sector remains buoyant, with Bitcoin closing in on its all-time high, driven by robust inflows and investments.
(With inputs from agencies.)
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