Repost: Asia markets gain amid hopes of US-China trade deal

Here’s the latest market updates from CNBC:

  • Shares in Japan, South Korea and Australia advanced in morning trade.
  • The Wall Street Journal reported Sunday that the U.S. and China are “in the final stage of completing a trade deal,” with Beijing offering to lower tariffs on U.S. products in categories ranging from chemicals to autos.
Image source: pixabay.com

Stocks in Asia rose on Monday morning following a report that China is offering to lower tariffs on certain U.S. products as part of a trade deal with America.

Japan’s Nikkei 225 advanced 0.83 percent in early trade while the Topix gained 0.77 percent as shares of robot maker Fanuc jumped 2.15 percent.

Over in South Korea, the Kospi advanced 0.72 percent as industry heavyweight Samsung Electronics saw its stock rise 1.77 percent.

In Australia, the ASX 200 rose 0.58 percent in morning trade, with almost all sectors advancing.

Symbol
Name
Price
Change
%Change
NIKKEI Nikkei 225 Index 21758.24
155.55 0.72%
HSI Hang Seng Index 28852.22
40.05 0.14%
ASX 200 S&P/ASX 200 6233.20
40.50 0.65%
SHANGHAI Shanghai 3019.12
25.12 0.84%
KOSPI KOSPI Index 2199.27
3.83 0.17%
CNBC 100 CNBC 100 ASIA IDX 7957.54
13.28 0.17%

US-China trade deal progress

The Wall Street Journal reported Sunday that the U.S. and China are “in the final stage of completing a trade deal,” with Beijing offering to lower tariffs on U.S. products in categories ranging from chemicals to autos. For its part, Washington is considering eliminating most if not all of the trade sanctions placed on Chinese goods last year, according to the Journal.

Bloomberg News reported Friday that the final deal is being prepared and that the pact could be signed by President Donald Trump and Chinese leader Xi Jinping within weeks.

A summit between the two leaders could happen sometime in March, according to both Bloomberg and the Journal.

 

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