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As on : 12-May-2025

Market Commentary - Foreign Markets
12-May-2025 14:57

China's Shanghai Composite index jumps 0.82%

Asian stocks rose on Monday after trade talks between the U.S. and China showed progress in de-escalating tensions.

Ahead of a joint statement to be released later in the day, financial markets and businesses are waiting to learn what marathon talks over the weekend achieved.

The U.S. dollar index was under pressure, slipping to around $100.61 for the second straight day amid economic concerns and uncertainty over the Federal Reserve's rate path.

Oil prices surged while gold remained under bearish pressure and traded at a fresh weekly low below $3,250 per ounce on easing demand for havens after China and the U.S. touted substantial progress on their trade talks.

China's Shanghai Composite index jumped 0.82 percent to 3,369.24 following the trade talks with the U.S. in Geneva over the weekend.

Chinese Vice Premier He Lifeng said both sides had agreed to establishing a consultation mechanism for further discussions on trade and economic issues.

Hong Kong's Hang Seng index soared 2.98 percent to 23,549.46, rising for an eighth day and marking the best run in a year.

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