Asian Market Update:
Asian Market Update: Japan was closed for a holiday, but the Asian session was more lively than expected, with bond markets under pressure and stock markets rallying on trade optimism. The U.S. snubbed the ASEAN meeting but then invited ASEAN leaders to the U.S. for a meeting and despite some reported objections from India Thailand, which currently holds the ASEAN chairmanship said the "welcomed the conclusion of the Regional Comprehensive Economic Partnership (RCEP) negotiations and the commitment to sign the RCEP Agreement in 2020". New Zealand meanwhile announced and upgrade to the free trade deal with China. Weaker than expected retail sales data out of Australia saw local stocks underperforming, but the ASX still nudged up 0.3%. The Hang Seng rallied 1.3% and CSI 300 and Shanghai Comp both lifted 0.7% on fresh trade optimism. U.S. stock futures are up 0.2%, while the front end WTI future fell back to USD 55.87 per barrel.