Asian market indices are trading higher in early deals on Monday after US President Donald Trump and Chinese President Xi Jinping agreed to a temporary trade truce between the United States and China. The two presidents agreed to not introduce any new tariffs for 90 days while talks on a trade deal step up. The US had been scheduled to push ahead on January 1 with increased tariffs on $200 billion worth of Chinese goods at 10 percent. Though, the rate will be raised to 25 percent if the two countries are unable to reach an agreement after 90 days. Besides, Chinese stocks climbed and the yuan strengthened after president Xi Jinping and Donald Trump said they won’t announce any new tariffs for 90 days.
Nikkei 225 jumped 223.94 points or 0.99% to 22,575.00, Hang Seng surged 710.50 points or 2.61% to 27,217.25, Taiwan Weighted climbed 251.88 points or 2.48% to 10,139.91, Shanghai Composite increased 75.26 points or 2.83% to 2,663.45, FTSE Bursa Malaysia KLCI spurt 15.57 points or 0.93% to 1,695.43, Straits Times increased 64.43 points or 2.02% to 3,182.04, Jakarta Composite improved 79.33 points or 1.29% to 6,135.45, and KOSPI Shares up by 33.25 points or 1.56% to 2,130.11.
