Asian shares started higher on Monday on hopes of an interim Sino-U.S. tariff de...
That left MSCI’s broadest index of Asia-Pacific shares outside Japan .MIAPJ0000PUS up 0.5% at 511.28 points. It is up 3.4% so far in September.The gains come after the U.S. Trade Representative’s office issued a brief statement characterizing the two days of talks with China as “productive.” It added that a principal-level trade meeting in Washington would take place in October, as previously planned.
China’s Commerce Ministry, in a brief statement, described the talks as “constructive”, and said they had also had a good discussion on “detailed arrangements” for the high-level talks in October. Additionally, the United States removed tariffs from more than 400 Chinese products in response to requests from U.S. companies.
“The two nations have continued to hold constructive talks. That’s helped the sentiment but the markets still remain unconvinced,” said Rodrigo Catril, senior forex strategist at National Australia Bank in Sydney. Investors were still a bit jittery as news broke on Friday that Chinese officials unexpectedly canceled a visit to U.S. farms next week following their two days of negotiations in Washington.
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