How money managers see Donald Trump-Kim Jong Un summit
Asian stock markets show little reaction after Donald Trump signed a document with Kim Jong Un, as investors wait to find out what was in it
Singapore: Jason Low summed it up after US President Donald Trump signed what he called a “comprehensive document” with North Korean leader Kim Jong Un. “We’re looking for more details,” said Low, a senior investment strategist at DBS Wealth Management in Singapore. “It appears to be a commitment to work towards goal of denuclearization.”
The signing came more than four hours into Trump and Kim’s meeting in Singapore, an encounter aimed at easing decades of tensions between two foes that last year had seemed on the verge of nuclear conflict. Asian stock markets showed little reaction after the ceremony, as investors such as Low waited to find out what was in the document.
Here are the views of other market participants:
Comprehensive or vague?
“I feel like the agreement could be vague, as Trump said it is ‘very comprehensive,”’ said Lee Seung-hoon, head of equities at DB Asset Management Co. in Seoul. But “I need to wait for the details of the agreement to be announced.”
“I’m trying not to trade right now,” said Stephen Innes, head of trading at Oanda Corp. in Singapore. “I am not adding any regional risk until the Fed and ECB dust settles.”
Hard to know
“It’s really hard to know what to make of this,” Soichiro Tsutsumi, a trader with eWarrant Japan Securities K.K. in Tokyo, said of the signing. “There’s a possibility that the agreement was for continued comprehensive efforts. But I want to know if there was a specific mention to denuclearization,” he said. “What are the details? We don’t know yet.”
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