China's Stock Markets Open Higher on China-US Trade Talk Triumph
Tang Shihua
DATE:  Dec 03 2018
/ SOURCE:  yicai


(Yicai Global) Dec. 3 -- China's stock  markets opened on a higher note today, as investors showed a stronger  risk appetite prompted by a truce that US and Chinese presidents agreed  upon during the G20 summit.

The benchmark Shanghai Composite Index  opened 2.28 percent higher. The Shenzhen Component Index jumped 2.86  percent. The ChiNext Price Index, which comprises mostly small-cap  companies, was up 2.75 percent.

China's President Xi Jinping and US leader Donald Trump agreed not to impose more tariffs for 90 days as they resume talks to negotiate a lasting trade deal. The meeting was held in Buenos Aires, Argentina, from Nov. 30 to Dec. 1.

Prior  to this, the Trump administration was planning to increase the current  import duties from 10 percent to 25 percent on USD200 billion worth of  Chinese goods, a move which was supposed to come into effect on Jan. 1,  2019. 

Editor: Emmi Laine 

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