Asian stock markets surged on Monday after China and the United States released a joint statement that announced a temporary easing of tariffs along with a new economic and trade dialogue mechanism. This move has sparked a wave of optimism among investors.
Hong Kong stocks led the regional rally, with the Hang Seng Index jumping 2.98%. Meanwhile, the Shanghai Composite Index increased by 0.82%, Japan’s Nikkei 225 climbed 0.38%, and South Korea’s KOSPI advanced by 1.17%.
The decision came after a two-day high-level meeting on trade affairs where both sides emphasized the importance of a sustainable, long-term and mutually beneficial economic and trade relationship. This breakthrough is being hailed as a blockbuster moment for Asia's economic landscape, reinvigorating investor confidence and smoothing out international trade ties. 🚀
Reference(s):
cgtn.com
