Asia Stocks Rise – Asia Market Wrap

The MSCI Asia Pacific index gained 0.4% after the S&P 500 index climbed Monday to the brink of a bull market. Hong Kong shares advanced 1.3%, with Contemporary Amperex Technology  jumping as much as 18% in its debut. Treasuries steadied after whipsawing on Monday with the downgrading of US debt by Moody’s Ratings. Gold dipped 0.5% on weak demand for havens.

S&P 500 futures dropped 0.2%, indicating a six-day advance may be poised to end. Contracts for Europe strengthened 0.5%.

Stocks have rallied in recent weeks amid optimism that trade tensions are waning since President Donald Trump announced century-high levies April 2. Investors in Asia are also staying focused on the outcome of US trade negotiations with India and Japan after a deal with China earlier this month on lowering tariffs boosted expectations.

India is discussing a US trade deal structured in three tranches and expects to reach an interim agreement before July, when Trump’s reciprocal tariffs are set to kick in, according to officials familiar with the matter. Japan’s key trade negotiator Ryosei Akazawa is making arrangements to visit the US for a third round of talks as soon as this week.

Japan’s finance minister said he’s arranging a bilateral meeting with US Treasury Secretary Scott Bessent this week to discuss topics including currency matters. That helped trigger gains in the yen.
Vietnam and the US held a second round of negotiations on a bilateral agreement on reciprocal tariffs in Washington DC. The talks kicked off Monday and will last until Thursday.