Closing Bell 10th June: ASX Edges Toward Record High as Energy and Banks Lead Gains

Asia-Pacific Markets Rise as Investors Eye U.S.-China Trade Developments

Asia-Pacific equities advanced on Tuesday as investors awaited further clarity from ongoing U.S.-China trade discussions, scheduled to continue for a second day in London. U.S. Treasury Secretary Scott Bessent, Commerce Secretary Howard Lutnick, and Trade Representative Jamieson Greer met with China’s Vice Premier He Lifeng and his delegation on Monday.

While the tone of the talks has been cautiously optimistic, Christian Floro, market strategist at Principal Asset Management, cautioned that trade policy remains fluid, contributing to a continued backdrop of market uncertainty. He advised investors to brace for volatility and consider rotating into undervalued sectors and international equities.

Floro highlighted domestic-focused sectors—such as utilities, real estate, and financials—as relatively insulated from trade-related disruptions. He also sees selective upside in software and internet stocks.

Japan’s Nikkei 225 rose 0.92%, with the Topix up 0.43%. South Korea’s Kospi gained 0.42%, and the Kosdaq climbed 0.77%. China’s CSI 300 edged 0.16% higher, while Hong Kong’s Hang Seng added 0.33%. Australia’s ASX 200 rose 0.73%, and India’s Nifty 50 was flat at open.