TOKYO — Asian markets were mostly higher in muted trading Monday, as Hong Kong and Australian markets were closed for Easter, and Wall Street and other global markets have been closed for a long weekend after Good Friday.
WALL STREET: New York trading is off for a long weekend for Good Friday, and will resume later in the day.
TRADE FEARS: Asian benchmarks appeared to be shrugging off fears that President Donald Trump’s tariff programs could set off a trade war. China raised import duties on U.S. pork, fruit and other products Monday in response to a U.S. tariff hike on steel and aluminium. A bigger dispute looms over Trump’s approval of possible higher duties on nearly $50 billion of Chinese goods.
THE QUOTE: “The market’s biggest fears about escalating trade war and higher U.S. interest rates have tentatively blown over, suggesting investors will shift into bargain-hunting mode,” said Stephen Innes, head of trading at Oanda.
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