Asian markets mixed as focus moves to China-US pact
Hong Kong, Jan 13 (AFP/APP): Asian markets were mixed Monday as investor attention turned from the Middle East to the global economic outlook and this week’s planned signing of the China-US trade pact. While the optimism that characterised the end of 2019 is returning to trading floors, dealers were left a little disappointed by a below-par jobs report out of Washington, which also showed a slower pace of wage growth. All three main indexes on Wall Street ended in negative territory following the reading, with profit-taking also playing a role, having hit new record highs. However, analysts pointed out that while the data missed expectations, it did suggest that the Federal Reserve will likely maintain interest rates at low levels for some time to come, with some tipping the next move could be another cut. In early trade, Hong Kong rose 0.2 percent, Singapore added 0.1 percent, Seoul jumped 0.6 percent and Jakarta gained 0.2 percent. Taipei rose 0.4 percent after Tsai Ing-wen won a landslide victory at the weekend and was returned as the island’s president for a second term, with investors cheering the removal of uncertainty caused by the election. The Taiex is sitting at its highest levels … Continue reading Asian markets mixed as focus moves to China-US pact
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