Asian Shares Rise After Trump-Abe Meet

Asian Shares Rise After Trump-Abe Meet

But Japan's growth suffered a blip in the final three months of past year as the economy slowed to 0.2% despite a weaker yen offering a tailwind to its exporters.

Global stocks kicked off the week on a positive note, with markets in Asia extending gains, as recent actions by President Donald Trump helped soothe investor worries about ties between the US and its key Asian trading partners.

Palladium was mostly flat at $783.73 per ounce, after hitting $786.90, its highest level in over two weeks.

"I just want everybody to understand and fully know that the United States of America stands behind Japan, it's great ally, 100 per cent", Trump said in a brief statement during a joint news conference with Japanese PM Shinzo Abe.

Trump's remarks emanated not long after he conversed with the President of China, Xi Jinping.

Chris Weston, a market strategist told reports that "It looks all handshakes and hugs between Trump and Abe...they were showing a very united front". By carelessly gambling with the "one China" policy, which he once suggested the US should not be bound to and should instead use as a bargaining chip, and folding just as tactlessly, Trump puts the a highly compromising position.

In other markets Seoul slipped 0.1 percent and Singapore was off one percent but Sydney added 0.4 percent. Oil majors Inpex, JX Holdings and Japan Petroleum rallied 3-5 percent.

The losses came despite another record close on Wall Street and healthy gains in Europe, where dealers cheered an upward revision of eurozone growth for this year and next. Japan's real gross domestic product grew 1.0% on an annualized basis in the three months through December, according to data released Monday.

Still, the Japan GDP data isn't worrying the market, said Andrew Sullivan, managing director of sales trading at Haitong International Securities. Abe's consultation with Trump appeared to have remained optimistic and stockholders are starting to contemplate that Trump has become more cognizant of the intricacies of presidential actuality. Even so, market partakers are yet expecting to get outcomes.



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