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Asian stock markets climbed on Monday after US President Donald Trump’s conciliatory remarks over the weekend helped calm fears of renewed China-US trade tensions.
Tokyo shares surged to a record high following news of a coalition deal that could end Japan’s political uncertainty.
Investor confidence was further strengthened by data showing China’s economy grew faster than expected in the third quarter, building on optimism from Wall Street, where all three major indexes recovered from Thursday’s declines.
Market sentiment had soured last week after Trump threatened 100 per cent tariffs on Chinese goods in response to Beijing’s new restrictions on rare earth exports, sparking another round of retaliatory measures and doubts over his planned meeting with President Xi Jinping.
However, tensions eased after both countries agreed on Saturday to resume trade negotiations.
Chinese state media reported that Vice Premier He Lifeng and US Treasury Secretary Scott Bessent held “candid, in-depth and constructive” discussions, pledging to meet again soon.
In an interview with Fox News, Trump confirmed he would still meet Xi at the APEC summit, admitting that the 100 per cent tariff was “not sustainable.”
The softer tone lifted regional markets: Hong Kong rose over two per cent, Shanghai gained 0.6 per cent, and indices in Seoul, Wellington, Taipei, and Manila also advanced.
Analysts said investors were betting that China would ease export controls, paving the way for the US to extend its 30 per cent tariff truce beyond the 10 November deadline.
Tokyo led the region, jumping nearly three per cent to a record peak after Japan’s ruling party said it would finalise a coalition deal allowing Sanae Takaichi to become the nation’s first female prime minister.
Her earlier bid had faltered when an alliance partner withdrew support.
Traders also drew confidence from a recovery in US regional bank stocks on Friday, after sharp losses a day earlier.
Gains in Zions Bancorp and Western Alliance Bancorporation eased concerns about wider financial instability.
Key Market Figures (as of 0230 GMT):
Tokyo (Nikkei 225): up 2.9% at 48,970.40
Hong Kong (Hang Seng): up 2.2% at 25,797.98
Shanghai (Composite): up 0.6% at 3,860.79
Euro/Dollar: down to $1.1665
Pound/Dollar: up to $1.3436
Dollar/Yen: up to 150.97
WTI Crude: down 0.5% at $57.24/barrel
Brent Crude: down 0.5% at $61.02/barrel
New York (Dow Jones): up 0.5% at 46,190.61
London (FTSE 100): down 0.9% at 9,354.57
