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Asia markets rise after US and China agree to trade truce


(2018-12-04)
 

Asian markets rose after the presidents of China and the US reached a temporary truce in their trade war.

At the G20 summit, Donald Trump and Xi Jinping agreed to halt new trade tariffs for 90 days to allow for talks.

An escalating trade war between the world’s two largest economies has weighed on markets generally.

The US and China have imposed billions of dollars of tariffs on one another’s goods, posing risks to global trade and the world economy.

In China, Hong Kong’s Hang Seng index and Shanghai Composite were up more than 2% in early trading, while Japan’s Nikkei 225 rose more than 1%.

President Trump said last week he was likely to go ahead with a planned tariff hike and reiterated his threats that the US could impose tariffs on the remaining $267bn of Chinese imports into the country.

 
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