Asian markets closed mixed on Tuesday, June 10, amid a lack of economic data and anticipation of the outcome of trade talks between Washington and Beijing. Japanese indices recorded gains for the third consecutive session, while Chinese markets recorded some declines.
The second round of trade talks between the United States and China begins today, Tuesday, in London, following talks on Monday between US Treasury Secretary Besant and the US Commerce Secretary and Trade Representative, with Chinese Vice Premier He Lifeng. Markets are awaiting any details or results from these talks.
US President Trump, during his remarks at a White House event on Monday evening, announced that his administration is doing well in the ongoing talks in London and that the reports issued are positive. The Nikkei index closed the session at 38,211 points, up 0.32%, or 122 points. The Topix index of the Tokyo Stock Exchange rose by approximately 0.03%, closing at 2,786 points. Sumitomo Pharma and Shiseido led the Nikkei’s gains, rising by more than 8% and 6%, respectively.
Chinese indices recorded declines at the close of trading today. The broader Chinese CSI300 index closed with losses of approximately 0.51%, closing at 3,865 points, while the Shanghai Composite index of the Shanghai Stock Exchange closed with a decline of 0.44%, closing at 3,384 points.
The Hang Seng Index, the main index of the Hong Kong Stock Exchange, closed the session with a decline of approximately 0.08%, closing at 24,162 points. Gains from Li Auto and Mituan led the index’s losses, with declines of more than 2.5%. India’s Sensex index rose 0.03% before closing at 82,470, while the Nifty 50 index rose 0.08% to trade at 25,124 points.
In contrast, South Korea’s Kospi index rose 0.56% in today’s session, closing at 2,871 points. Macquarie Group, a Korean investment bank, expects the South Korean stock market to enter a bull market similar to those in 2000 and 2007, when the country’s president was from the Democratic Party. The bank expects President Lee’s new government to implement expansionary fiscal policies that will support the stock market.
New Zealand stock markets closed with gains today, with the NZX 50 index rising 0.20% to close at 12,564, while Australia’s ASX 200 index rose 0.84% ​​to close at 8,587 points. Singapore’s main index declined 0.10% in pre-closing trading.