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Hang Seng Index back on the rise after initial blip as investors digest details of US-China phase one trade deal

Zhang Shidong and Srinivasan Iyer

The S&P 500 Index and the Dow Jones Industrial Average both reached new highs in overnight trading in the US, as traders cheered the signing of the phase one deal between Beijing and Washington. An initial reading of the agreement shows that China will need to do more to protect intellectual property rights and ramp up purchase of American goods to narrow the trade gap between the two nations. Still, markets in Asia reacted differently as regional traders probably need more time to get into the details of the deal.

This article originally appeared in the South China Morning Post (SCMP), the most authoritative voice reporting on China and Asia for more than a century. For more SCMP stories, please explore the SCMP app or visit the SCMP's Facebook and Twitter pages. Copyright © 2020 South China Morning Post Publishers Ltd. All rights reserved.

Copyright (c) 2020. South China Morning Post Publishers Ltd. All rights reserved.