Asian markets rally on growing trade deal hopesBy The Manila TimesHONG KONG: Asian markets rallied with oil and high-yielding currencies Monday as investors grow increasingly confident that China and the United States will eventually hammer out a deal to end their long-running trade war. The prospect of an end to the near year-long US-China trade row has also provided a lift to regional currencies against the dollar with investors moving into higher-risk units. Oil extended last week’s sharp gains on signs that OPEC members and other major producers led by Russia are cutting output. Both main contracts were higher Monday, with Brent having surged 6.7 percent last week and WTI soaring 5.4 percent. Positive signs from the US-China trade negotiations “gave oil a double boost as it also softened the US dollar as it reduced its appeal as a safe haven”, said Alfonso Esparza, senior market analyst at OANDA.

Source: Manila Times February 18, 2019 03:11 UTC