Global Market Pulse: Asian Stocks Rise Amid US Trade Talk Boost
Asian markets showed positive movement, driven by optimism in US stocks and export gains in South Korea. Meanwhile, US futures and oil prices dipped. Trade talks between Canada and the US helped push markets up, with hopes for resolved tariffs. Significant corporate mergers also influenced stock market trends.
- Country:
- Philippines
Asian stock markets displayed mixed results following a strong performance on Wall Street. The Nikkei 225 dropped 1.2% despite positive manufacturing data, while South Korea's KOSPI surged 1.5% on robust export growth.
In the United States, hopes of resumed trade talks and tax cuts for tech firms provided a lift to stock indices, with the S&P 500 and Dow Jones witnessing gains. The Canadian government's decision to stay a tax on US technology companies and ongoing political developments in the US trade policy were significant factors.
Major corporate mergers, such as Oracle's lucrative cloud services contracts and Home Depot's acquisition of GMS, spurred active trading, alongside bond market movements and upcoming key economic reports, including the eagerly awaited US jobs data.
(With inputs from agencies.)
ALSO READ
U.S. Calls for China Trade Curbs in Talks with South Korea
Trump Ups the Ante: New Tariffs on Canadian Imports
U.S. and South Korea in Strategic Trade Talks Amid Rising Chinese Influence
Diplomatic Maneuvers: U.S. and China Clash Over Trade Tariffs in Kuala Lumpur
US Courts South Korea in Shipbuilding Alliance Against China
Google News