Hang Seng Index records best week in nearly six months on trade deal reports

  • The Hang Seng Index closed 2.5 per cent higher at 27,679.88 
  • The Shanghai Composite Index rises 1.8 per cent to 2,967.99 

Topic |   Stocks Blog

It’s here. Bloomberg is reporting US President Donald Trump has signed a “Phase One” trade deal with China, which is bound to push up the Hong Kong and mainland China markets a day after they were boosted by the Federal Reserve’s decision to keep rates unchanged. Moreover, optimism around the trade deal pushed American equities to records overnight, and Asian stocks are expected to follow them and rise.
The deal also averts the introduction on Sunday of a new wave of tariffs on about US$160 billion of consumer goods from China, which will no doubt please top policymakers in Beijing, who have signalled a greater focus on maintaining economic stability in 2020. During a key economic planning meeting that concluded on Thursday, they called for contingency plans to offset growing global risks.

Please help us improve our blog by taking this quick – under 2 minutes! – survey. Your feedback will really help us make the blog better for you!

Also, if you would like the Live Stocks Blog emailed to you each morning, click here. 

– Yujing Liu and Azar Zaidi in Hong Kong

Note: Information in this blog is on an "as is" basis and not a solicitation or offer to buy or sell any securities or otherwise; and is not investment/professional advice or services in this regard.  It is subject to our T&C.  SCMP (as defined in T&C) shall not be liable for any loss, damage and costs relating to any investments in securities or otherwise in this connection.