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Asian stocks continue to cheer SIno-US trade hopes

  • Asian equities continue to cheer the easing US-China trade tension.
  • China is planning to replace "Made in China 2025" with new measures that will allow greater access to foreign companies. 

The rising odds of the US-China trade deal continue to bode well for the Asian equities.

As of writing, Japan's Nikkei is reporting 0.94 percent or 200 point gain. Other Asian majors like the S&P/ASX 200, Hang Seng, and Kospi are also trading in the green. Meanwhile, the Shanghai Composite has added 15 points or 0.58 percent.

Wall Street Journal (WSJ) reported earlier today that China is planning to roll out new measures that would allow a greater access to foreign companies. Notably, these measures are set to replace the high-tech "Made in China 2025" plans.

The news comes a day after President Trump said he would intervene in the Huawei case if that would help him reach a trade deal with China. Trump also informed markets yesterday that China has agreed to restart purchases of American Soybeans and reduce the tariff on Amercian car imports.

As a result, trade tensions may continue to ease further, boosting the outlook for global economic growth. The stocks, therefore, could remain better bid in the short-run.

 

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