Investors were uncertain about the fate of a 'phase-one' trade deal between the two economies
The American and Chinese leaders spoke about their desire to sign an initial trade deal to defuse a 16-month tariff war, boosting financial markets.
US President Donald Trump on Tuesday said Washington was in the "final throes" of a deal that would defuse the 16-month tariff dispute with Beijing.
China and the United States had "constructive talks" on trade in a high-level call on Saturday
Instead of seeking to coerce China into abandoning policies that both sides agree benefit its economy, the US should seek to emulate them
For weeks Trump has said the countries are close to a deal that would end their damaging trade war. He has also said the signing could take place in a rural part of the United States
"We're very optimistic that round one will be completed and, hopefully, signed before the end of this year," Marc Short, chief of staff to Vice President Mike Pence, told CNBC
A deal good enough to restore confidence in cross-border investment is not likely "in the next year or so, and could even require a new administration in the US," he added.
China and the United States have agreed in the past two weeks to cancel tariffs in different phases, the Chinese commerce ministry said on Thursday without giving a timeline
China said it had agreed with the United States to remove tariffs in phases, while state-owned Xinhua News Agency said Beijing was also considering removing restrictions on poultry imports
China's commerce ministry said the countries have agreed to cancel tariffs in phases
The official, who spoke on condition of anonymity, said it was still possible the "phase one" agreement aimed at ending a damaging trade war would not be reached, but a deal was more likely than not
The lack of consensus on a signing location reflects the fluid nature of the talks
Brent crude futures rose 74 cents, or 1.2%, to $62.87 a barrel by 12:56 pm EST (1756 GMT). US West Texas Intermediate crude futures rose 68 cents, or 1.2%, to $57.22 a barrel
Chinese officials also suggested the US could temporarily waive some tariffs, people familiar with Beijing's position said
On Friday, prices jumped by about $2 a barrel after U.S. officials said a deal could be signed this month.
The abrupt move - which came after weeks of riots over inequality in Chile that have left at least 18 people dead - left the Asia-Pacific Economic Cooperation meeting in disarray
Investor wealth soared by Rs 2.73 lakh crore on Tuesday in a buoyant equity market where the BSE benchmark zoomed 581.64 points helped by encouraging quarterly results and US-China trade deal optimism. The 30-share Sensex jumped 581.64 points to close at 39,831.84. During the day, it advanced 666.81 points to 39,917.01. The market capitalisation of BSE-listed firms soared Rs 2,73,355.21 crore to Rs 1,52,04,693.34 crore. "A strong momentum is seen in the market as healthy Q2 earnings from big corporate and attractive valuation for mid & small caps is providing a favourable risk-reward to investors. "The clouds over global market are gradually settling down with developments in trade deal and Brexit, while rate cut expectation from (US) FED will further add impetus to emerging markets like India," Vinod Nair, Head of Research, Geojit Financial Services Ltd said. According to Ajit Mishra, Vice President, Research, Religare Broking Ltd, "The markets in the near term are likely to be .
Brent futures fell 45 cents, or 0.7%, to $61.57 a barrel, while US West Texas Intermediate (WTI) crude fell 85 cents, or 1.5%, to $55.81
(Reuters) - Technology stocks propelled the benchmark S&P 500 index to an all-time high, while the Nasdaq hovered below its record level, as a possible U.S.-China trade deal and rising bets on a third rate cut by the Federal Reserve fueled optimism.