Asia markets higher on muted trade

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.

Canada’s Financial Post Via AP

This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.

Stephen Innes

Stephen Innes

Head of Trading APAC at OANDA
Stephen has over 25 years of experience in the financial markets and currently based in Singapore as the Head of Trading Asia Pacific with OANDA. Stephen's market views focus on the movement of G-10 and ASEAN Currencies. His views appear in Bloomberg, CNBC.Reuters, New York Times WSJ and the Economist. His media appearances include Bloomberg TV & Radio, BBC International, Sky TV, Channel News Asia, ASTRO AWANI and BFM Malaysia. Stephen has an extensive trading experience in Spot and Forward FX, Currency and Interest Rate Futures, Money Market Derivatives and Precious Metals. Before joining OANDA, he worked with organisations like Nat West, Chemical Bank, Garvin Guy Butler, and Sumitomo Mitsui Banking Corporation. Stephen was born in Glasgow, Scotland, and holds a Degree in Economics from the University of Western Ontario.
Stephen Innes
Stephen Innes

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