The Strategist

Asian Nikkei hits 2019 record high

12/13/2019 - 09:42

Key Japanese index Nikkei reacted to the news about trade agreements between the US and China with active growth. On December 13, at the opening of trading on the Tokyo Stock Exchange, it reached the highest level this year.

Dick Thomas Johnson
Dick Thomas Johnson
Only in the first 10 minutes of trading, the index added 1.84%, reaching 23855.57 points.

The main driver of growth was reports that China and the United States reached an agreement on the terms of a trade deal. This was reported by sources in the presidential administration.

The Hong Kong Stock Exchange also reacted positively to news from Washington. Bidding opened with an increase in quotations: at the opening of the morning session, the Hang Seng index rose by 500 points (1.85%), reaching the level of 27,494 points.

Almost all the blue chips turned out to be a plus, with the exception of a few real estate companies. Thus, shares of the Chinese technology giant Tencent soared 3.15% to 360 Hong Kong dollars ($ 46) apiece.

In addition, reports on the plans of the central authorities of the PRC to promote the establishment and development of the financial services market in Macau also played a positive role. On this news, assets related to the gambling business in this special administrative region of China began to actively gain weight.