The Wall Street Journal said on Sunday that Washington could lift most or all of its tariffs on Beijing while a summit between U.S. President Donald Trump and his Chinese counterpart Xi Jinping to sign a final trade deal could happen later this month.
This followed Trump's comments last week that he has asked China to remove immediately all tariffs on US agriculture as trade negotiations are progressing well. He also postponed the planned 25 percent tariffs on Chinese goods earlier.
All this proved to be positive for the risky sentiment with S & P500 and Dow futures marked a 0.4% growth. Spreadbetters pointed to a positive start for Europe as FTSE futures in London added 0.5%.
"Following a strong recovery of risk assets since the beginning of the year, a series of events in March will put global investors' tone on whether this bounce is sustainable," said Tai Hui, JPMorgan Asset Management's Asia Pacific Market Chief Strategist.
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