Asian stock markets are trading mostly higher on Monday, following the mixed cues from Wall Street on Friday, amid optimism about a potential U.S.-China trade deal after U.S. Treasury Secretary Scott Bessent confirmed that a trade deal has been struck with China following the weekend talks in Switzerland, with no more details offered. Asian markets closed mostly higher on Friday.
There are reports the U.S. is hoping to slash China tariffs to below 60 percent from the current level of at least 145 percent. However, US President Donald Trump said in a post on Truth Social that a higher "80% Tariff on China seems right," partly offsetting the positive sentiment.
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