Asian equities headed for a record close as signs of easing trade frictions helped boost sentiment after recent volatility tied to concerns about US regional banks.
MSCI’s regional stock gauge jumped 1.8% and futures indicated gains in the US and Europe. Japanese shares rallied almost 3% and the yen pared its declines on expectations the pro-stimulus Sanae Takaichi will be elected as Japan’s next prime minister.
Chinese equities gained as investors looked past data that showed economic growth slowed to the weakest pace in a year. In other corners of the market, Treasuries edged lower across the curve with the yield on the 10-year rising one basis point to 4.02%.
Gold edged up 0.3%, while oil dipped after posting a third weekly decline. Market sentiment improved as President Donald Trump sought to ease trade tensions with China after markets were rattled on Friday by US bank-credit woes.
A new round of US-China trade talks is set for this week with Treasury Secretary Scott Bessent and Vice Premier He Lifeng facing the task of negotiating down new escalatory measures.
