U.S. stocks rocket after Trump’s meeting with China’s Xi Jinping to call off their trade war and announcing eased pressures on HuaweiDonald Trump met Xi Jinping on the sidelines of the G20 in Japan on SaturdayTrump announced their negotiations were ‘back on track’ and held off on leviesAlso offered a surprising concession to ease pressures on telecom firm Huawei US president’s historic visit to North Korea also lifted spirits on trading floors
Following a highly anticipated meeting on Saturday, Trump said negotiations between the world’s two biggest economies were ‘back on track’ and he would hold off imposing threatened new levies on Chinese goods.
Trump surprisingly offered a concession on Chinese telecom giant Huawei, who the U.S. had banned over espionage fears.
U.S. President Donald Trump meets with China’s President Xi Jinping at the start of their bilateral meeting at the G20 leaders summit in Osaka, Japan on Saturday
Trump’s historic visit to North Korea (pictured with Kim Jong Un yesterday) also soothed geopolitical concerns and added to the upbeat mood on trading floors
White House officials sit alongside President Trump and their Chinese counterparts including President Xi
Global rally by the numbers:
Tokyo – Nikkei 225: UP 2.1 percent at 21,729.97 (close)
Shanghai – Composite: UP 2.2 percent at 3,044.90 (close)