Stock markets gained as the dollar eased on Monday, with the Asian market reacting to better-than-expected American jobs data ahead of U.S.-China trade talks in London.
As of 6:02 GMT, the U.S. dollar index was down 0.19 percent to 99. On Friday, Wall Street stocks closed sharply higher after the jobs data eased concerns about the economic impact of tariffs.
Asian shares gain
MSCI’s broadest index of Asia-Pacific shares outside Japan climbed 0.81 percent while Japan’s Nikkei stock index rose 0.87 percent. In the Asian stock market, Hong Kong’s Hang Seng also gained 1.27 percent, supported by prospects of tariff easing ahead of the London talks today.
In addition, South Korea’s KOSPI Index gained 1.28 percent to 2,848.17 and the Taiwan Weighted Index was up 0.60 percent. The Shanghai Composite Index rose 0.35 percent, and the broader Topix index rose 0.56 percent.
U.S.-China trade talks boost market hopes
Stock markets gained as top trade representatives from Washington and Beijing were set to meet for talks on Monday, with the focus expected to be on critical minerals, whose production is dominated by China. The discussions follow a call last week between Trump and Chinese President Xi Jinping.
U.S. Treasury Secretary Scott Bessent, Commerce Secretary Howard Lutnick and Trade Representative Jamieson Greer will represent Washington in talks with China, Trump said in a social media post. Meanwhile, China’s foreign ministry said Vice Premier He Lifeng will be in Britain for the first meeting of the China-U.S. economic and trade consultation mechanism.
Read: Crude oil prices steady above $66.4 as market eyes U.S.-China trade discussions
U.S. inflation data in focus ahead of Fed’s meeting
Stock markets reacted to U.S. job growth, which slowed in May by less than initially expected, data showed on Friday. However, pessimistic economic data from China reflected the impact of the trade war with the U.S.
Market focus now turns to U.S. inflation data due on Wednesday ahead of the Federal Reserve’s June 18 meeting.
In commodities, gold gained 0.17 percent to $3,317.32 after a 1.3 percent fall on Friday. Meanwhile, oil prices dipped 0.20 percent to $66.34 following a 1.9 percent surge late last week.
