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Asia markets bounce as countries in region sign giant trade deal; autos and tech stocks soar

2020-11-16 10:28:30       source:CNBC

November 15, 2020

SINGAPORE — Asia markets bounced on Monday morning as 15 economies in the region signed a deal that formed the world’s largest trade alliance. Australia, meanwhile, halted trading shortly after markets opened.

The trade deal, signed on Sunday, aims to gradually reduce tariffs across many areas, according to Reuters. The Regional Comprehensive Economic Partnership is now the world’s largest trade bloc, a deal that excludes the U.S. It marks the first time that East Asian powers China, Japan and South Korea are in a single trade agreement.

In Japan, the Nikkei 225 gained 1.59%, while the Topix was up 1.37%.

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