Tokyo — Stocks rose on Monday as US Treasury Secretary Steven Mnuchin declared the US trade war with China "on hold", following an agreement to drop tariff threats that have roiled global markets this year. US S&P mini futures rose 0.60% in Asian trade on Monday. MSCI’s broadest index of Asia-Pacific shares outside Japan advanced 0.55% in early trade, led by strong gains in greater China. Hong Kong’s Hang Seng was up 1%, Taiwanese shares added 1.1% and mainland Chinese shares rose 0.4%. Japan’s Nikkei gained 0.4%. Mnuchin and US President Donald Trump’s top economic adviser, Larry Kudlow, said the agreement reached by Chinese and American negotiators on Saturday set up a framework for addressing trade imbalances in the future. "The weekend talks appear to have made progress. While they still need to work out details of a wider trade deal, it is positive for markets that they struck a truce," said Hirokazu Kabeya, chief global strategist at Daiwa Securities. As safe-haven demand for ...
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