Global markets were lifted by signs of progress in US-China trade talks on Monday as the world’s two largest economies seek to limit economic damage from their all-out trade war.
Equities rallied, with futures for the S&P 500 and Nasdaq rising 1.5 per cent 1.9 per cent, respectively. Hong Kong’s Hang Seng index climbed 0.9 per cent while China’s CSI 300 rose 0.6 cent.
The renminbi strengthened 0.2 per cent to Rmb7.22 and the US dollar rose 0.3 per cent against a basket of peers.
Gold sold off, with prices for bullion falling 1.5 per cent. The Swiss franc and Japanese yen, haven currencies, both weakened 0.4 per cent.
Yields on US 10-year Treasuries rose 0.03 percentage points to 4.41 per cent. Bond yields move inversely to prices.
