Precise Investors Editorial Team
Asian shares rose, with stocks in Japan and South Korea climbing nearly 2%, and each breaching milestones
Asian equities soared on Monday as investors cheered a breakthrough in China-US trade talks that set the stage for leaders Xi Jinping and Donald Trump to finalise a deal, averting an escalation in the world’s biggest trade dispute.
Chinese Vice-Premier He Lifeng said the two sides reached a “preliminary consensus” on tariffs, export controls and fentanyl cooperation, describing the talks as “candid, in-depth and constructive”.
US Treasury Secretary Scott Bessent said the possibility of the US president imposing an additional 100% tariff on Chinese goods was “effectively off the table” following weekend negotiations in Malaysia.
The tariffs will be averted, Bessent told ABC News on Sunday, adding that China agreed to delay rare earth export controls and make “substantial” soybean purchases.
The progress paves the way for Xi and Trump to meet Thursday in South Korea on the sidelines of the Asia-Pacific Economic Cooperation summit, their first face-to-face meeting since Trump returned to office.
Asian shares rose in early trade, with stocks in Japan and South Korea climbing nearly 2%, and each breaching milestones.
Hong Kong, Shanghai and Taipei also opened on the front foot.
Trump expressed confidence about reaching a comprehensive agreement with Beijing.
They want to make a deal and we want to make a deal, he told reporters on Sunday in Kuala Lumpur.
Futures for US copper soared on the trade deal optimism, bolstering the outlook for global demand.
The breakthrough came after months of escalating tensions, with Trump threatening the massive tariff hike in response to China’s October expansion of rare earth export controls – a move Washington called “economic coercion”.
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