US-China truce lifts market sentiment
STI up 73.01 points; HK and Shanghai markets recorded the biggest gains, both closing 2.6% higher
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POSITIVE market sentiment following negotiations over the weekend between the US and Chinese leaders as they struck a deal to hold off on their tit-for-tat tariff row for 90 days drove Singapore shares higher on Monday.
The outcome of the heavily-anticipated meeting between Donald Trump and Xi Jinping could signal a new phase in the trade relationship between the two largest economies, which have hogged the spotlight for much of the year.
However, if there is no deal in place by the end of the negotiation period, the US will raise tariffs on US$200 billion worth of Chinese imports to 25 per cent.
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