SYDNEY (Reuters) – Asian shares neared nine-month highs on Monday after U.S. Treasury Secretary Steven Mnuchin said he hoped U.S.-China trade talks were approaching a final lap, while strong Chinese export and bank loan data boosted confidence in the global economy.
FILE PHOTO: A woman walks past a markets index board in Tokyo June 12, 2013. REUTERS/Toru Hanai/File Photo
The optimism on trade together with the U.S. Federal Reserve pausing its rate tightening efforts and Britain lawmakers getting an extension on the country’s exit from the European Union helped lift the mood in equities markets.
“U.S.-China trade concerns have receded, the Fed is no longer hiking rates and Brexit has been postponed, which all bodes well for risk assets,” said Takashi Hiroki, chief strategist at Monex