Asian stocks advanced Monday, boosted by positive signals about a potential US-China trade deal.
Hong Kong’s Hang Seng Index opened up 1.1% and widened the gains to 1.9% in early trading. It’s the top performer so far among major indexes in the region.
Investors may also be paying attention to election results in Hong Kong. Pro-democracy candidates appear to have made major gains in the city’s District Council elections. The elections have been framed as a de facto referendum on the almost six months of ongoing protests in the semi-autonomous Chinese city.
Meanwhile, South Korea’sKospi index gained 1.2%. Japan’s Nikkei 225 also rose 0.9%, while China’s Shanghai Composite Index improved 0.7%.
On Friday, President Donald Trump told Fox News that the United States and China were “potentially very close” to reaching a deal.
The Chinese government on Sunday calling for stronger protections of intellectual property rights. That kind of action, though, would address a key concern by the United States as the two countries negotiate a trade deal.
US futures rose during Asian trading hours Monday following a higher close at the end of last week. Futures for the Dow, S&P 500 and Nasdaq were up between 0.2% and 0.4%.