Positive news on US-China trade ties boosts Asian markets

NEWS that US-China trade ties might have turned a corner brought much needed relief to markets in Asia, which had, since the middle of the week, posted mostly gains.

On Friday, US President Donald Trump revealed that he had had positive talks with Chinese President Xi Jinping, while a report stated that Mr Trump had asked US officials to draw up a draft bill as he eyes a potential trade deal between the two.

IG's Pan Jingyi said: "The strong performance for Asia markets had been a result of the latest positive development in US-China trade ties, shrugging off even the poor lead that stemmed through with Apple's weaker-than-expected revenue guidance ... The amicable conversation between the two leaders, followed by news that the US administration is drafting up a potential trade deal, had been music to the ears of investors in the region."