Rising Asian markets; Chinese stocks gain business data By Investing.com


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Investing.com – Asian markets advanced Monday morning trading as Chinese equities gained about 1% after better-than-expected trade data for May.

The and the traded increased by 1.0% and 0.9% respectively at 22:45 (2:45 GMT). Hong Kong jumped 2.2%.

Chinese equity gains came after official data showed that China overall had a much higher than expected figure, despite fears of an ongoing Sino-US trade dispute. The surplus was $ 41.65 billion, up from $ 20.5 billion forecast.

Despite the positive data, traders remained concerned about the impact of the deterioration of US-China trade relations after US Treasury Secretary Steven Mnuchin told CNBC this weekend. that President Donald Trump was "perfectly happy" to impose more tariffs on China. the negotiations are not going well.

"If China wants to move the agreement forward, we are ready to move forward with the conditions we have adopted. If China does not want to move forward, then President Trump is quite happy to move forward with tariffs to rebalance the relationship, "said Mnuchin.

"We will have to take action and President Trump will have to make sure it is clear that we are moving in the right direction for an agreement," he added.

Trump and his Chinese counterpart, Xi Jinping, would meet at the G-20 meeting in Japan later this month to discuss trade-related issues.

Elsewhere in Asia, Japan rose 1.1% after Cabinet data showed the country had recorded annualized growth of 2.2% in January-March, exceeding expectations for annualized growth in 2.1% and preliminary reading of the same rate of expansion.

South Korea and Australia both rose 0.9%.

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