Asian markets rose in early trade on Monday as investor sentiment improved following last week’s high-level trade negotiations between the United States and China.
Markets in Japan are closed for a public holiday, while in China, September trade data is due around 10:30 a.m. HK/SIN.
Following a prolonged deadlock on trade, Washington and Beijing appeared to have made some headway in resolving a dispute that saw both sides apply tariffs on billions of dollars worth of each other’s goods since last year.
U.S. Treasury Secretary Steven Mnuchin said last Friday tariffs on $250 billion worth of Chinese imports that were set to rise from 25% to 30% on Oct. 15 will not go into effect. That followed an announcement from U.S. President Donald Trump that both sides reached a “very substantial phase one deal” that will address intellectual property and financial services concerns, and include purchases of about $40 billion to $50 billion worth of agricultural products by China.
Still, other tariffs the U.S. has imposed on Chinese products remain in place.
Source: CNBC
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