Asian shares bound ahead amid signs that a US-China deal is imminent
Equities begin the week on a strong note as an end to the trade war appears to be close, while the dollar eases as traders bet on the Fed’s policy remaining accommodative
Sydney — Asian shares started the week on the front foot on signs the US and China were close to striking a tariff deal to end their protracted trade war, while the dollar eased as traders wagered Federal Reserve policy would remain accommodative. The Wall Street Journal reported on Sunday that Washington could lift most or all of its tariffs on Beijing while a summit between US President Donald Trump and his Chinese counterpart Xi Jinping to sign a final trade deal could happen in March. That followed comments from Trump last week that he had asked China to immediately remove all tariffs on US agricultural products because trade talks were progressing well. He also delayed previously scheduled plans to impose 25% tariffs on Chinese goods. All of that proved positive for risk sentiment with E-mini futures for the S&P 500 and the Dow rising 0.5% each on Monday. Chinese shares were the biggest gainers in Asia, with the blue-chip index up 3%. Australian shares rose 0.5% and Hong Kong’s...
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