Asian stock markets were mostly higher on Tuesday after the U.S and China indicated progress in trade talks, and as hopes of new coronavirus treatments boosted broader sentiment among global investors.
FILE PHOTO: A man using his mobile phone is silhouetted against a stock quotation board outside a brokerage firm in Tokyo February 21, 2006. REUTERS/Toru Hanai
U.S. Trade Representative Robert Lighthizer and Treasury Secretary Steven Mnuchin spoke with Chinese Vice Premier Liu He, the U.S. Treasury said in a statement on Tuesday, during a “regularly scheduled call”. “This is consistent with market expectations of the Phase 1 deal staying healthy and likely to hold even as U.S.-China tensions flare up along non-trade dimensions - technology, access to capital, geopolitics,” Citigroup analysts said in a research note.
“The strong rebound in markets continues to be driven by the large amounts of money governments and central banks keep throwing at the system,” Milroy said. Shares of AstraZeneca also rose on a Financial Times report that the U.S. government was considering fast-tracking its experimental vaccine. Investors are awaiting a Thursday speech from Federal Reserve Chairman Jerome Powell and expect he might address the future approach to inflation, possibly allowing it to run hotter than 2% to make up for years of undershooting.
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