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Asian shares surge as Trump boosts trade deal hopes

Published : Thursday, 14 February, 2019 at 12:00 AM  Count : 113

HONG KONG, Feb 13: Asian stocks surged Wednesday as President Donald Trump said he may extend his trade deal deadline with Beijing and a report claimed China's Xi Jinping would meet top US officials, seeming to boost the prospects of an agreement.
High-level talks are due to begin in the Chinese capital Thursday aimed at an accord to stop sharp US tariff hikes that could damage the global economy.
Trump said he could let his March 1 deadline for the tariffs "slide for a little while" if the two sides were close to a meaningful deal, adding that he expects a summit with President Xi "at some point".
Later, a report in the South China Morning Post said Xi would personally meet the US delegation in Beijing, suggesting a redoubled effort to make progress on a deal.
Washington is demanding changes from Beijing on what it says are unfair commercial practices. A resolution would prevent US tariffs more than doubling on $200 billion in Chinese imports next month.
Tokyo added a further 1.3 percent after Tuesday's gains to finish at a two-month high.
Hong Kong rose 1.2 percent, and Shanghai earned 1.8 per cent on the news, following Wall Street's lead.
European stocks also climbed at the open, with London up 0.3 per cent, Paris 0.3 per cent and Frankfurt 0.4 per cent.    -AFP

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