Stock markets fluctuated on Monday as investors took a step back after last week’s rally fueled by the Federal Reserve’s interest rate cut.
Tokyo led the winners after Japan’s central bank said it would sell off its huge stock of exchange-traded funds gradually. It sparked a sell-off on Friday by announcing plans to offload the holdings as part of a shift away from its loose monetary policy.
Investors also took some heart from talks between Donald Trump and Chinese leader Xi Jinping on Friday that the US president said “made progress on many very important issues
He added that the pair would meet Xi on the sidelines of an Asia-Pacific Economic Cooperation summit in South Korea at the end of next month and that he would travel to China next year.