Asia Markets: Asian markets mixed after U.S. elevates China from currency manipulator [MarketWatch]
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Source: MarketWatch
Asian markets mixed after U.S. elevates China from currency manipulator Asian markets were mixed in early trading Tuesday, after the U.S. said China is no longer a currency manipulator ahead of the signing of a “phase one” trade agreement this week. The U.S. Treasury Department stepped back from the decision it made last year , saying in a statement that it “has determined that China should no longer be designated as a currency manipulator at this time.” The U.S. and China are expected to sign a “phase one” trade deal Wednesday in Washington, which the Treasury Department said will include enforceable commitments by China to refrain from currency devaluation and not target its exchange rate for competitive purposes. “Investors’ unquenchable appetite for stocks is in hyperdrive, triggered by a further thawing in U.S.-China trade tension,” Stephen Innes, chief Asia market strategist for AxiTrader, wrote in a note. Japan’s Nikkei NIK, +0.61% gained 0.7% as traders returned from a holi
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