PRESS ROOM
Asia-Pacific trade deal adds momentum to equities
Monday 16th November '20
Asia-Pacific shares have been boosted by a landmark free trade deal in the region signed on Sunday 15 November. The Regional Comprehensive Economic Partnership (RCEP) has been agreed among 15 countries including China, South Korea, Japan, and Australia. The deal is being termed by leaders as a major step towards multiculturalism and free trade in the region and has been signed after nearly 8 years of negotiations. Equity markets, already buoyed by positive vaccine news, have welcomed this development. The MSCI Asia Pacific Index is up 8% month-to-date (as of 16 November) in USD while the S&P China 500 Index is up over 4%, also in USD over the same period.