Over the weekend at the closely watched G-20 summit in Argentina, Chinese President Xi Jinping and U. S. President Donald Trump agreed to a temporary pause on escalating the ongoing trade war between the two economic powerhouses.
Stocks in Australia traded higher on Monday morning on the back of the U. S. and China agreeing to temporarily pause escalating the ongoing trade war between the two economic powerhouses.
The ASX 200 jumped 1.55 percent in early trade with almost all sectors in positive territory.
Shares of major miners in Australia saw strong gains: Rio Tinto advanced 1.99 percent, Fortescue Metals Group surged 4 percent while BHP Billiton gained 2.05 percent.
Meanwhile, futures pointed to a higher open for Japan’s Nikkei 225. The Nikkei futures contract in Chicago was at 22,680 while its counterpart in Osaka was at 22,410. The benchmark Japanese index last closed at 22,351.06.
The mainland Chinese markets, closely watched as a result of Beijing’s ongoing trade spat with Washington, are set to open at 9:30 a.
