Asian stocks grind higher amid hopes of US-China trade truce

Asian stocks opened higher today, amid the high-level round of the US-China trade talks in Washington, which has started yesterday and will conclude today, in attempts to reach a final trade deal between the countries, amid market hopes for a trade truce that will prevent escalation of the one year old trade war.

President Trump announced yesterday that he will meet with the Chinese Vice Premier Liu He at the White House, amid cautious anticipation about a trade deal or a truce in addition to the suspension of the US decision to increase tariffs to 30% from 25% on Chinese imports worth $250 billion as of Oct 15th, in addition to further 15% tariffs increase on imports worth $160 billion as of Dec 15th.

The Japanese stocks surged today, as Topix rose by 0.61% or 9.59 points to 1,591.01 points, and Nikkei 225 jumped 0.97% or 209.27 points to 21,761.25.

The Chinese stocks also rose, as the CSI 300 index rose by 0.46% or 17.94 points to 3,892.58, and the Shanghai Composite rose by 0.37% or 11.01 points to 2,958.72.

Hong Kong's Hang Seng Index rose by 2.16% or 556.49 points to 26,264.42, and the South Korean Kospi gained 1.12% or 22.62 points to 2,050.77.

To New Zealand's NZX 50, which rose by 0.38% or 41.20 points to 10,927.93, and the Australian S&P/ASX 200 rose by 0.75% or 48.82 points to 6,595.90.