SINGAPORE (AP) — Shares are advancing in Asia after Presidents Donald Trump and Xi Jinping met and agreed to moderate tensions over trade.
The Shanghai Composite index jumped 2.5 percent and the Hang Seng in Hong Kong surged 2.6 percent in early trading Monday.
The U.S. was set to raise tariffs on $200 billion in Chinese goods on Jan. 1. Trump agreed Saturday in a meeting with Chinese leader Xi at the G-20 summit to hold off for 90 days while the two sides try to settle their differences.
That looming deadline and Trump’s threat to impose tariffs on an additional $267 billion of goods from China, possibly including iPhones and laptops, have been rattling markets for months.
Analysts say stocks that suffered from recent turmoil may see a nice rebound.
