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Asian stock markets are greening with trade talks and AI excitement

. Most Asian stock markets rose on Monday after the global demand for artificial intelligence (AI) technology and the trade and AI talks between the US and China gave positive signals.

Last week, the world stock markets closed in mixed conditions. Various central banks have continued to tighten monetary policy to control inflation. Meanwhile, the US Federal Reserve raised interest rates on Wednesday.TAG_OPEN_div_34

U.S. and Chinese economic officials held talks on trade and AI on Sunday. The talks came ahead of a summit between U.S. President Donald Trump and Chinese President Xi Jinping in Washington on Thursday.

According to US Treasury Secretary Scott Besant, the two sides discussed the establishment of a mechanism called the ‘US-China AI Dialogue’ for regular dialogue on AI. Chinese state media described the talks as “clear, thorough and constructive”.TAG_OPEN_div_30

Hong Kong’s major stock index rose about 0.5 percent, about TAG_OPEN_div_28 an hour after trading began on Monday. South Korea’s technology sector-focused index rose 1.5 percent, while the Shanghai Stock Exchange rose 0.5 percent. Japan’s Tokyo Stock Exchange was closed due to the public holiday, while Australia’s Sydney market was down slightly.

} Quintex Intel analyst Stephen Innes said the groundwork for the Trump-Xi summit was already on trade, investment and artificial intelligence, and that markets were waiting for a signal that the two countries would not escalate trade tensions rather than a big deal.

Meanwhile, the US-Iran conflict has increased pressure on central banks around the world to control inflation.TAG_OPEN_div_24

Japan’TAG_OPEN_div_22 s central bank last Friday raised interest rates to their highest level in three decades. However, the yen has weakened against the US dollar due to expectations that the pace of interest rate hikes may be slower than expected in the coming days. Earlier this month, the European Central Bank and the US Federal Reserve also tightened monetary policy.

TAG_OPEN_div_20Crude oil prices fell slightly in the international market on Monday. The price pressure comes after Saudi Arabia expected to resume about half of its crude oil supplies affected by the blockage of the East-West pipeline within a few days.

However, the price of major Brent and WTI crude oil is still around $100 per barrel, which is significantly higher than the level before the US-Iran war.TAG_OPEN_div_18

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