Strong start in Asia on US-China trade talks progress
Markets in Asia began the week strongly as the US and China edged closer to a trade deal that could see Beijing cut tariffs and lift other restrictions on American products, particularly in agriculture.
In return Washington would quash sanctions levied on $200 billion of Chinese products. Beijing has hit back with tariffs on $110bn worth of US goods, including soybeans and other commodities.
US President Donald Trump and Chinese President Xi Jinping could seal a formal trade deal at a summit around 27 March, given progress in talks between the two countries, the Wall Street Journal reported on Sunday.
China’s Shanghai Composite jumped 2.5%, while Hong Kong’s Hang Seng rose 1.2% and Japan’s Nikkei added 1% in afternoon trading.