Asian markets surged on Thursday, following gains on Wall Street and the US Postal Service reversing its ban on parcels from China and Hong Kong. However, lingering trade war anxieties continue to dampen market sentiment.
HONG KONG - Asian markets rose on Thursday, tracking gains on Wall Street and following the US Postal Service's U-turn on a ban on parcels from China and Hong Kong, though trade war fears continue to keep sentiment at bay.
But while he reached deals with the United States' neighbours to delay implementation of the measures, there was no such agreement with Beijing. But it rowed back on Wednesday, saying it would"continue accepting all international inbound mail and packages".Markets across Asia were on the rise, with Hong Kong, Shanghai, Tokyo, Sydney, Seoul, Singapore, Wellington and Taipei benefiting.
"Trade War 2.0 is different from the US-China Trade War 1.0 enacted in January 2018 in terms of coverage as this time round it involves major trading partners of the US, on top of the ongoing US-China Tech War," said OANDA senior market analyst Kelvin Wong.
TRADE WAR MARKETS CHINA US ECONOMICS
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