Asian Stocks Edge Higher after Trump Defers the Deadline on Imposing Tariffs
Asian markets set off on a good start on Monday morning over the announcement of Trump postponed the deadline on imposing tariffs after a "productive" talks.
On Sunday, the U.S. President Donald Trump had announced that he would delay the deadline to raise tariffs from 10% to 25% of Chinese goods worth $200 billion, which was set to impose on March first, thanked to the “productive” talks between the U.S. and Chinese delegates in the past week.
According to his Twitter, he said: “I will be delaying the U.S. increase in tariffs now scheduled for March 1. Assuming both sides make additional progress, we will be planning a Summit for President Xi and myself, at Mar-a-Lago, to conclude an agreement. A very good weekend for U.S. & China!”
Trump did not set a new deadline and the White House provided no specific details on what kind of progress had been made. The source said that the two leaders would meet to close the deal if these trade talks continued in a productive way.
This positive news had set a good sentiment to Asian markets in Monday morning as of 8:30 in Thailand, NIKKEI rose 0.61%, Shanghai jumped 1.36%, HSI gained 0.30%, ASX 200 increased 0.089%, and KOSPI hiked 0.12%.
On Friday, February 22, 2019, SET closed at 1,659.20 points, jumped 11.88 points or 0.72% with ฿50.7 billion in value.