Xi Jinping Joe Biden Jeffrey Halley China Singapore India Hong Kong city Bangkok Washington president economy Xi Jinping Joe Biden Jeffrey Halley China Singapore India Hong Kong city Bangkok Washington

Asian shares mostly gain after Biden speaks with China's Xi

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Major Asian stock indexes were mostly higher on Thursday after President Joe Biden held his first conversation with Chinese leader Xi Jinping since taking office.

Many markets in Asia were closed for the Lunar New Year and other holidays. Benchmarks in Hong Kong, India rose, Singapore was flat and Sydney and Bangkok declined.

With much of Asia celebrating the traditional start of the Year of the Ox, there is little in the way of fresh market driving news likely for the rest of the week from the region.

In their phone conversation, Biden and Xi appeared to have struck a conciliatory tone, Jeffrey Halley of Oanda said in a commentary.

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