Asian stocks opened in green on Tuesday to join their US counterpart, which is still supported by optimism as the United States reached a deal with Mexico last weekend, under which the decision to impose 5% tariffs on Washington imports from New Mexico, which was supposed to come into force early this week.
In addition, we note that the optimism in the financial markets is also supported by the slower pace of job creation in the US than in the previous month, which has increased the chances for monetary policy makers to reduce the interest of the federal funds. This comes ahead of the start of the meeting of the Federal Open Market Committee in Washington.
In another context, we would like to point out that the optimism we are currently witnessing does not reflect the reservation that the trade war between the United States and China has not been calmed down and continues to be threatened in one form or another by the US administration, which is pursuing trade protectionism with many global countries, such as China and one of its largest companies, the Chinese technology giant Huawei.
US President, Donald Trump, said in an interview with CNBC that a trade deal with China could be reached because of tariffs and with the Huawei case as part of the trade deal with China, noting that the economic outlook for the US in the first quarter exceeded expectations due to tariffs.
Meanwhile, Trump threatened to increase tariffs on Chinese imports if president, Xi Jinping, did not attend the G20 summit later this month in Japan. Saying that Beijing should reach a trade agreement with Washington because of its need to reach an agreement, adding that China is currently being completely destroyed.
Trump also said that foreign companies were leaving China and heading to other countries including the United States, saying that a lack of a trade deal with China would mean more tariffs, adding that tariffs are a good thing and gives America a huge competitive edge, "We were talking about an agreement with Mexico for months and there was no agreement till we imposed tariffs."
Trump recently noted that China could expect to face more tariffs on its exports to the country, adding that America has already prepared a list of Chinese goods worth $300 billion, and that this list may be subject to additional fees, in the wake of the Washington-Beijing tariffs raise last month on each other's goods to 25% from 10% in the escalation of trade protectionism between them.
Japanese stocks rose during today's trading session, with the broader Topix index rising by 0.48% to gain (7.53 point) up to 1,560.47, while Nikkei 225 index also rose by 0.35% (73.67 points) up to 21,208.09.
As for the Chinese stock indices, CSI 300 rose 2.10% to gain 75.85 points up to 3,686.59, the Shanghai Composite Index also rose 1.63% (46.58 points) up to 2,898.71.
As for Hong Kong's Hang Sang, it rose 0.77% (211.15 points) up to 27,789.79. While South Korea's Kospi Index also rose 0.28% (5.92 points) up to 2,105.41.
To New Zealand's NZX 50, which rose 0.84% (84.59 points) up to 10,112.20. While Australia's S&P/ASX 200 index also rose 1.30% to gain 83.51 points up to 6,527.40.
US stocks rose during today amid global market hopes following the announcement of an agreement between the United States and Mexico.
Wall Street received support from the technology sector rise after the administration of US President Donald Trump announced an agreement with Mexico.
Accordingly, Trump canceled the decision to impose tariffs on its imports from Mexico which would have came into effect starting from today.
However, Trump has threatened China with more tariffs if Chinese President Xi Jinping does not attend the G20 summit and work to resolve trade disputes.
In the oil market, West Texas dropped 1.4% to close at $53.26 per barrel, recording a high of $54.8 and a low of $53.05.
Brent fell 1.6% to close at $62.29 a barrel, with a high of $64.1 and a low of $62.05.
At the close of the trading session, Dow Jones Industrial Average rose 0.3% (equivalent to 78 points) to 26,062 points, with the highest level at 26,210 points and the lowest level at 26,054 points.
NASDAQ rose 1% (81 points) to 7,823 points, and recorded a high of 7,895 points and a low of 7,795 points.
Standard & Poor's rose 0.5% (13 points) to 2,886 points, reaching a high of 2,904 points and a low of 2,885 points.
Most of the cryptocurrencies, including Ripple, rose during today as the global markets concerns about the US trade disputes eased following the announcement of the US administration of a trade agreement with Mexico.
Under the agreement, the decision to impose tariffs against US imports from Mexico is cancelled, which was to go into effect starting from today.
Trump said he still expects China to seek a trade deal with the United States, threatening to impose more tariffs if the Chinese President Xi Jinping didn't attended the G20 summit.
The National Association of Realtors in the United States announced that it is investing in a company that uses the Blockchain technology in real estate activities.
In terms of trading, by 20:53 GMT, Ripple rose by 3.2% to $0.40, the highest at $0.41 and the lowest at $0.38.
Bitcoin rose by 2.7% to $7933, the highest at $8077.1 and the lowest at $7514.5.
Silver prices fell during today's trading session shedding last week's gains, as the metal fell under pressure from the dollar's rise against most major currencies.
Investors avoided precious metals such as gold and silver and moved to stock market as concern about the trade disputes eased.
The US administration, decided to cancel the imposition of tariffs on the country's imports from Mexico after reaching a trade agreement between the two countries.
Markets are still waiting for the G20 summit in Japan this month, which is expected to see a meeting between US President Donald Trump and Chinese President Xi Jinping to discuss solutions to the trade crisis between the two countries.
The dollar index rose by 0.2% to 96.7 points at 19:29 GMT, reaching a high of 97.9 points and a low of 96.6 points.
At the end of the session, silver futures (July delivery) fell by 2.6% to $14.639 per ounce. The metal hit a day high of $15.01 and a low of $14.625 after a 2.3% gain last week.