Asian markets trade mostly higher; Nikkei, Kospi indices gain

South Korea’s Kospi also rose 1.58%, shares in Australia also edged higher while the Shanghai Composite down marginally.

Aug 25, 2020 12:08 IST India Infoline News Service

Asian stock markets were trading mostly higher after a huge rally in the US indices. Stocks in Japan led gains among the region’s major markets in morning trade, with the Nikkei 225 jumping 1.35%, the Topix index advanced 1.3%, South Korea’s Kospi also rose 1.58%, shares in Australia also edged higher while the Shanghai Composite down marginally.

On the international front, the media reports said that the US Trade Representative Robert Lighthizer and Treasury Secretary Steven Mnuchin had a call with Chinese Vice Premier Liu He Monday evening stateside to “discuss the implementation of the historic Phase One Agreement between the United States and China,” and also the conversation was also confirmed by Chinese state media agency Xinhua.

Overnight stateside, the S&P 500 rose 1% to 3,431.28 and hit an all-time high, with Monday also marking the index’s first-ever close above 3,400. The Dow Jones Industrial Average gained 378.13 points, or 1.4%, to end its trading day at 28,308.46 and the Nasdaq Composite added 0.6% to close at 11,379.72 and also reached a record.

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