Asian Markets Mostly Higher

(RTTNews) - Asian stock markets, led by China, are mostly higher on Thursday, the first trading day of 2020. Investor sentiment was bolstered by news that the much-awaited phase one trade deal between the U.S. and China will be signed on January 15.

In addition, the People's Bank of China said it will lower the reserve requirement ratio for banks by 50 basis points with effect from January 6. The move will enable banks to boost lending to small business.

The Australian market is higher in choppy trade in the first trading day of the year.

The benchmark S&P/ASX 200 Index is adding 20.00 points or 0.30 percent to 6,704.10, after touching a low of 6,669.20 earlier. The broader All Ordinaries Index is up 21.70 points or 0.32 percent to 6,824.10.

The big four banks - Commonwealth Bank, National Australia Bank, Westpac Banking and ANZ Banking - are lower in a range of 0.5 percent to 0.8 percent.
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