Asian stocks jump on signs US, China close to trade deal

Asian shares gained on Monday on reports the United States and China were close to striking a trade deal after a year-long tariff skirmish while the dollar eased as traders wagered Federal Reserve policy would remain accommodative.

MSCI’s broadest index of Asia-Pacific shares outside Japan took the lead and climbed 0.1 percent for their second straight day of gains. Australian shares were up 0.7 percent while Japan’s Nikkei strengthened 0.8 percent. Chinese shares rallied too, with the blue-chip index up 1 percent.

The Asia ex-Japan index has risen almost 10 percent so far this year.

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Posted in: Indian Market Tips