SYDNEY - Asian markets idled near 18-month highs on Monday as volumes weakened ahead of the Christmas holiday break and investors squared off their positions, taking home hefty gains made earlier this month.
Global stocks were"basking in the after-glow of the United States-China trade deal and continued encouraging signs of stabilisation in the global growth slowdown", said David Bassanese, Sydney-based chief economist at Betashares. Data on Friday showed US growth nudged up in the third quarter, while there were signs the economy maintained its moderate pace of expansion as the year ended. Consumer spending was stronger than previously reported, and there were upgrades to business spending.
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