Asian stocks are apparently lifted by Trump’s tweet on the “big progress” in trade talks with China. Hong Kong HSI is up 1.27% at the time of writing. Singapore Strait Times is up 0.44%. Japan and China are on holiday though. But at the time time, gain is limited partly due to holiday, and partly on mixed China PMI data. In the currency markets, Yen is the weakest one for today so far while commodity currencies trade higher. but most are trading within Friday’s range.
Trump tweeted over the weekend that “Just had a long and very good call with President Xi of China. Deal is moving along very well. If made, it will be very comprehensive, covering all subjects, areas and points of dispute. Big progress being made!”. China’s state media also said Xi believed both sides wanted “stable progress”, and China-US ties had reached a “vital stage” on its 40th anniversary.
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It’s reported that US delegation, led by Deputy U.S. Trade Representative Jeffrey Gerrish with Treasury Under Secretary for International Affairs David Malpass, will travel to China in the week of January 7 for face-to-face meeting.
