Stocks in Asia traded higher on Tuesday as investors watch for developments on the U.S.-China trade front following a recent escalation in tensions.
Optimism shifts to Asia as investors follow US-China trade war
US-China trade watch
Investors will watch for further developments on the ongoing trade war between Beijing and Washington. U.S. President Donald Trump said Monday that American trade officials received overnight calls from the Chinese saying Beijing was ready to return to the negotiating table.
On the part of the Chinese, however, Foreign Ministry spokesman Geng Shuang said he was unaware that a phone call between the two parties had occurred. That was further backed by Hu Xijin, editor-in-chief at Chinese state-run newspaper The Global Times, who said in a tweet Monday: “Based on what I know, Chinese and US top negotiators didn’t hold phone talks in recent days. ”
Those developments came following a recent intensification in tensions, with both China and the U.S. announcing that new tariffs will be slapped on billions of dollars worth of each others goods.
Source: CNBC
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