TACO trading? Asian markets open, risk assets surge to new highs: US stocks rebound, cryptocurrencies soar.

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In early Asian trading on Monday, risk assets rebounded across the board, reversing last Friday’s pessimistic sentiment as investors flowed back into stocks, oil, and digital currencies, while gold continued its rally.

After the Asian markets opened on Monday, U.S. stock index futures rose in response, with S&P 500 index futures climbing nearly 1%;

Asian-Pacific stock markets were mixed: Australia’s S&P/ASX 200 index fell 0.3%, Hong Kong Hang Seng index futures dropped 0.5%. Japanese markets were closed for a holiday;

Oil prices rebounded by more than 1%;

Spot gold rose 0.7% to $4,045 per ounce;

Digital currencies rebounded, with Bitcoin back above $115,000;

According to the Global Times, the spokesperson for the Ministry of Commerce answered reporters’ questions on the 12th regarding recent Chinese economic and trade policies. In response to the U.S. threatening to impose a 100% tariff on China and implement export controls on all critical software for “China’s export controls on rare earths and related items,” the spokesperson stated: Resorting to threats of high tariffs is not the right way to engage with China.

The Ministry of Commerce said that China’s stance on the tariff war is consistent: we do not want to fight, but we are not afraid to fight. China urges the U.S. to promptly correct its mistakes, to take the important consensus reached by the two heads of state as a guide, to safeguard the hard-won results of negotiations, continue to utilize the Sino-U.S. economic and trade consultation mechanism, and address respective concerns through dialogue based on mutual respect and equal consultation, properly manage differences, and maintain the stable, healthy, and sustainable development of China-U.S. economic and trade relations. Should the U.S. persist, China will also decisively take corresponding measures to maintain its legitimate rights and interests.

In this regard, Minsheng Securities’ analysis believes that, combined with Trump’s restrained answers to reporters over the weekend and China’s rational response, the tone between the two sides remains unchanged and will not be a turning point event for the market.

Risk assets rebound, gold continues its rise

At the start of the Asian trading session, all types of assets generally turned upward. As of this writing, S&P 500 index futures are up by over 1%.

In commodities, WTI crude oil rose 0.9% to $59 a barrel.

As a safe haven, gold extended its rally. As of this writing, spot gold is up 0.19% to $4,026.17 per ounce.

The foreign exchange market was relatively stable; the Bloomberg Dollar Spot Index showed little change, the yen fell 0.5% against the dollar to 151.93. Offshore RMB exchange rate was basically flat.

However, Asia-Pacific equities were mixed. Australia’s S&P/ASX 200 index declined 0.3%, Hong Kong Hang Seng futures dropped 0.5%. Japanese markets were closed for a holiday.

After experiencing historic large-scale liquidations, the cryptocurrency market strongly rebounded over the weekend. According to CoinGecko data, as of October 12, Bitcoin rose 4.2% over 24 hours to trade near $115,180; Ethereum rose 10.8% over 24 hours to $4,143.

Other major tokens also generally rose, with Solana up 6.3% and Dogecoin soaring 7.6%. The total cryptocurrency market value rebounded to $3.85 trillion, up nearly 10% from the low two days ago.

Risk Warning and DisclaimerThe market has risks. Investment needs to be cautious. This article does not constitute personal investment advice and has not considered individual users’ specific investment objectives, financial situations, or needs. Users should consider whether any opinions, views, or conclusions in this article are suitable for their particular circumstances. Investment is at your own risk. ```