[HONG KONG] Asian markets were mixed in early trade on Monday as investors weighed ongoing China-US tensions and Washington lawmakers' struggle to hammer out a much-needed new stimulus. Read more at The Business Times.
"For now there is no sign the trade deal is in jeopardy, with the review's postponement seen as an allowance for China to increase its purchase of US agricultural goods, which are way behind schedule" owing to the impact of the virus on trade, said National Australia Bank's Rodrigo Catril.
Taipei was also up more than one per cent and Singapore 0.5 per cent, while Wellington piled on 1.5 per cent after the government delayed New Zealand's general election by four weeks to October 17 owing to a spike in new virus infections.But Tokyo dropped 0.6 per cent by lunch after data showed Japan's economy contracted the most on record in the second quarter, while Sydney and Manila were also in the red.
"Presumably based on the assumption that the Republicans will eventually accept a somewhat larger package in light of their incentive to support the economy ahead of the November election, where President Trump is trailing in the polls."
Singapore Latest News, Singapore Headlines
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