Markets in Asia were off to a strong start on Monday as investors digested news of a rebound in Chinese exports, encouraging US signals on trade talks, and solid bank earnings on Wall Street. 

China’s CSI 300 gained 2 per cent, led by financial, industrial and consumer stocks. The move left took the index within 1 per cent of the one-year high it touched last Monday, before tumbling toward the end of the week. Data released on Friday showed a rebound in Chinese exports, while the country’s new bank loans also exceeded forecasts in March.

The rise was mirrored by Hong Kong’s Hang Seng index, which was up 1 per cent in morning trading. 

Earlier in the day, Tokyo’s Topix index hit a 2019 high, trading 1.5 per cent higher. 

Investors will have taken heart from signs over the weekend that the US is willing to meet Beijing’s demand for a “two-way” enforcement mechanism for a future agreement. Steven Mnuchin, the US treasury secretary, said on Saturday that the US is willing to face “repercussions” if it fails to comply with a potential trade deal, as the two countries enter the final stretch of talks to resolve their long-running trade dispute.

Australia’s S&P/ASX 200 was the sole weak spot in the region, edging 0.1 per cent lower ahead of quarterly production figures from miners and oil companies later this week. 

Strong bank earnings saw the S&P 500 close 0.7 per cent higher on Friday.

Snapshot

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Markets Briefing is a concise look at global markets, updated throughout the trading day by Financial Times journalists in Hong Kong, New York and London. Feedback? Write in the comments below or send us an email.

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