Asian stocks cheer risk-on sentiment, China data

• Trade positive news join positive fundamentals from China to build risk-on.
• Fewer data on hand highlights political plays for near-term trade direction.

Not only the absence of the US tariffs on Mexican products but better than forecast trade data from China also amuse Asian share traders on early Monday. Also, Japan’s upbeat gross domestic product (GDP) data provided additional strength to the present risk-on sentiment.

As a result, MSCI’s gauge of Asia-Pacific shares ex-Japan flashes 1.3% gains while Japan’s Nikkei is +1.2% in gains during the press time.

Australian markets were off due to Queen’s Birthday but New Zealand’s NZX 50 couldn’t portray China’s welcome data in a better way and remains modestly unchanged by the time of writing.

Further, China’s Hang Seng gains more than 2.0% while India’s BSE Sensex reacts to the latest rate cut from the central bank with a positive +0.66% mark.

Global barometer of risk sentiment, i.e. yields on the US 10-year government bonds, gains more than 4 basis points to 2.126% ahead of the European open.

Amid broader optimism surrounding trade, any news relating to the US-China talks could please buyers the most while global economic calendar has fewer data to watch.