Asia Stocks Edge Higher after China Promises to Step Up Purchases of U.S. Goods
Asia Stocks Edge Higher after China Promises to Step Up Purchases of U.S. Goods to Meet the Condition in the Phase 1 Trade Deal.
Stocks in Asia traded higher in the afternoon after a report of positive talks between the U.S. and China in Hawaii, while Beijing promised to step up its purchase of U.S. products to meet the Phase 1 agreement.
As of 14:12 local time in Thailand (GMT+7), Nikkei advanced 0.55%, SSEC rose 0.91%, HSI gained 1.08%, ASX 200 edged 0.10% higher and Kospi hiked 0.37%.
Meanwhile, Dow Jones Futures saw a 0.60% gain ahead of its Friday session. S&P 500 Futures and Nasdaq Futures also rose 0.56% and 0.67%, respectively.
In the afternoon, international news reported that China says it plans to accelerate purchases of US farm goods China plans to step up purchases of U.S. farm goods to comply with the Phase 1 trade deal following the earlier talks in Hawaii.
In the Phase 1 trade deal, China promised to buy $200 billion in additional U.S. goods and services over two years, but the disruption from the coronavirus outbreak causes Beijing to fall short on the purchasing.