By Mahmut Cil and Mucahithan Avcioglu
ISTANBUL (AA) - Asian stock markets on Monday were trading positively on the back of easing trade tensions between the US and China and new trade agreements with Asian countries.
Japan's Nikkei 225 index climbed 2.46% to an all-time high of 50,512.32 points, the first time exceeding the 50,000-point level, and South Korea's Kospi index surged 2.57% to 4,042.83 points..
China's Shanghai Composite Index was trading up 1.18% at 3,996.94 points, while Hong Kong's Hang Seng Index rose 1.05% at 26,433.7 points and India's Sensex was trading at 84,728.34 points, 0.61% above its previous close.
Global markets are also trending positively after US inflation fell short of expectations. This week's meeting between the US and Chinese presidents, along with the US Federal Reserve's monetary policy decision, will influence the market direction.
A meeting between US President Donald Trump and Chinese President Xi Jinping will take place in South Korea on Thursday. Expectations that progress in trade relations between the two sides are supporting risk appetite in global markets.
Trump will meet Japan's new Prime Minister Sanae Takaichi on Tuesday and will be received by South Korean President Lee Jae Myung the next day.
Analysts say Trump's visits to the region are important for inter-state relations, and that news flow from the talks will influence market direction.
- Takaichi effect on Japanese indexes
Expectations that Takaichi will implement expansionary policies to sustain the country's fragile recovery are driving the Japanese stock market to record highs.
Japanese investors are focusing on the message to be conveyed in the Bank of Japan's policy statement regarding its interest rate decision, which will be announced this week. The central bank is expected to keep its policy rate unchanged.