Hopes for a trade deal boost Asian stocks

Asian stocks extended gains on July 24 as investors bet on the possibility of major economies reaching a trade deal with the US, helping to ease concerns ahead of the August 1 tariff deadline.

Stock index board in Tokyo, Japan. (Photo: Kyodo/VNA)

Asian stock markets continued to rise in the afternoon trading session on July 24, as investors expected other countries to follow the Japan-US trade agreement to reach bilateral trade agreements.

Meanwhile, many predictions say that the European Union (EU) is also on track to reach a similar agreement.

At the end of the trading session, the Nikkei 225 index in Tokyo market increased 1.6% to 41,826.34 points. The Hang Seng index in Hong Kong market (China) increased 0.5% to 25,667.18 points. The Composite index in Shanghai exchange increased 0.7% to 3,605.73 points.

Stock markets in Seoul, Singapore, Wellington, Taipei (China) and Jakarta also rose, while some markets such as Sydney, Mumbai and Bangkok fell.

Investors have poured money into the market in recent weeks on hopes that governments will reach an agreement with US President Donald Trump before his August 1 deadline.

Market sentiment has been more upbeat since Japan reached a deal to cut tariffs from 25% to 15%, including on the country’s vital auto sector. The breakthrough has raised hopes that more deals are on the way.

The EU is said to be moving closer to a deal. Sources say the EU could reach a similar deal to Japan, where tariffs would be cut from 30% to 15%.

The Financial Times reported that the two sides will exempt tariffs on a number of products, including aircraft, spirits and medical equipment.

The news came after US Treasury Secretary Scott Bessent said talks were progressing.

Analysts say a deal with America’s largest trading partner would provide a strong boost to stocks, but they warn that if the talks fail and Mr Trump imposes a 30% tariff on August 1, the market could be thrown into serious turmoil.

In Vietnam, at the end of the trading session on July 24, VN-Index increased by 8.71 points (0.58%) to 1,521.02 points, HNX-Index increased by 1.34 points (0.54%) to 250.67 points./.

According to Vietnamplus

Source: https://www.vietnamplus.vn/ky-vong-dat-thoa-thuan-thuong-mai-thuc-day-da-tang-cua-chung-khoan-chau-a-post1051606.vnp

Source: https://baolongan.vn/ky-vong-dat-thoa-thuan-thuong-mai-thuc-day-da-tang-cua-chung-khoan-chau-a-a199428.html