Asian stocks were mixed on Monday as markets participants have got a new wave of optimism for the next round of U.S.-Sino trade talks, planned for this week.
The stocks in Taiwan, China, which were closed for the Lunar New Year holiday reopened with upward trend, as it was said higher, on hopes of trade negotiations progress, because it influences broadly the global economy.
Australia’s S&P ASX 200 tried to recoup some earlier losses, but missed the mark and stumbled 0.18 percent;
Hong Kong’s Hang Seng rose 0.53 percent;
China’s Shanghai Composite gained 1.36 percent;
South Korea’s Kospi rose 0.17 percent;
Taiwan’s stocks rose 0.72 percent, while Singapore’s and Indonesia’s fell by 0.18 and 0.23 percent respectively.
Trading was mostly light, with Japanese stocks closed for a public holiday.
Trade negotiations are awaiting any progress, but if the target will not be achieved by March, 1 the U.S. intends to raise tariffs from 10 to 25 percent for imports from China.