Stories
Asian Stocks Rise on US-China Trade Optimism; Oil Falls for Fourth Day
- •Asian equities edged higher on Monday, September 21, driven by optimism ahead of a US-China summit, with MSCI Asia Pacific equities gauge adding 0.2%.
- •South Korea's Kospi outperformed, climbing 0.83%, while Hang Seng futures slipped 0.2%; Japanese markets were closed for a public holiday, leading to thinner trading volumes.
- •US and Chinese officials, including Treasury Secretary Scott Bessent and Chinese Vice Premier He Lifeng, held productive talks in New York covering trade and AI, fueling market hopes for the upcoming summit.
- •S&P 500 contracts gained 0.3% and Nasdaq 100 futures rose 0.4%, reflecting continued investor appetite for technology stocks.
- •Oil prices fell for a fourth consecutive day, with Brent crude dropping 0.3% to $103.50 a barrel and West Texas Intermediate shedding 0.5% to $99.79, despite improved shipping through the Strait of Hormuz.
Key Questions Answered
Asian equities edged higher as investors positioned themselves ahead of a US-China summit expected later in the week. Traders attributed the positive mood to growing optimism over trade relations following productive discussions between US Treasury Secretary Scott Bessent and Chinese Vice Premier He Lifeng.
Crude oil prices extended their losing streak into a fourth consecutive session on Monday. Brent crude dropped to trade near $102.43 a barrel, while West Texas Intermediate shed 0.5% to settle at $99.79 a barrel.
Japanese markets are closed from September 21 to 23 for a holiday stretch that includes Respect for the Aged Day, a bridging Citizen's Holiday, and Autumnal Equinox Day. Normal trading is scheduled to resume on Thursday, September 24.
