Markets in Asia saw light positive trading on Wednesday morning, following Wall Street’s modest increase on Tuesday in a response to upbeat sentiment from the White House on a possible trade tariffs deal between the United States (US) and China.
White House economic advisor Larry Kudlow said in a White House briefing that there is “a good possibility” the US can make a deal with China and that US President Donald Trump is open to a deal.
But Mr Kudlow added the caveat that “certain conditions have to be met, certain things have to be changed," in order for a deal to come through.
Mr Trump and China President Xi Jinping are expected to meet on the side lines of the upcoming G20 summit at Bueno Aires, Argentina, where world leaders will convene on Friday and Saturday.
Tokyo shares opened higher on Wednesday, with the benchmark Nikkei 225 up 0.51% or 111.66 points at 22,064.06. Malaysia shares also treaded higher early morning, with the FTSE Bursa Malaysia Kuala Lumpur Composite Index up 1.00% or 0.83 points, to 1,685.80.
Singapore shares rose in the morning’s session, with the Straits Times Index up 7.24 points or 0.23% to 3,097.64 minutes into trading.
Chinese stocks followed the consensus with other Asian markets as mainland investors grow slightly optimistic on a possible trade deal breakthrough.
Minutes into trading, the Shanghai Composite Index was 0.09% or 2.27 points higher, at 2,576.95, while the Hang Seng Index was up 0.50% or 132.34 points, at 26,464.30. China’s smaller Shenzhen Composite Index rose 0.43%.