Asian stocks rise as talks boost optimism

BEIJING

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ASIAN equities rose yesterday after China and the United States said they would hold trade talks at the weekend, fanning optimism that the superpowers can row back eye-watering tariffs that have heightened recession fears.

Beijing’s moves to ease some key monetary policy tools to kickstart the world’s number two economy boosted hope among investors who have been left punch drunk by Donald Trump's explosive first few months in power.

US officials said Washington has been in talks in recent weeks with numerous countries to avoid Trump's sweeping levies, with Japan and South Korea among the first in the queue.

But there has been no sign of engagement with China, save for a few US remarks that discussions were taking place.

However, after US markets closed both countries announced that top representatives would hold negotiations this weekend in Switzerland, the first since Trump’s “Liberation Day” tariffs unveiling on April 2.