Sino-U.S. Trade Hopes rally Asian stocks

Sino-U.S. Trade Hopes rally Asian stocks

Asian stocks rallied on Monday’s morning trade as China and the U.S. seemed close to agreeing on a “phase one” trade deal.

The Office of the U.S. Trade Representative (USTR) said on the weekend that Beijing and Washington were close to signing a partial trade deal.

“They made headway on specific issues and the two sides are close to finalizing some sections of the agreement,” the USTR said. “Discussions will go on continuously at the deputy level, and the principals will have another call in the future.”

When asked about China on Friday, U.S. President Donald Trump said, “We’re moving along very nicely. We’re dealing with them right now and a lot of good things are happening with China. They want to make a deal very badly.”