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• European equities traded higher on Monday morning as concerns over a trade war between China and the U.S. dissipated slightly ahead of a key speech Tuesday.
The pan-European Stoxx 600 was 0.27 percent higher with most sectors moving into positive territory. Banking stocks were the top-performing sector in early trade, up by 0.5 percent. This followed news of a management change at Deutsche Bank.
Overall, global trade war fears dissipated from last week's trading. Market players will monitor Chinese President Xi Jinping who will speak at the Boao Forum Tuesday, after President Donald Trump tweeted on Sunday that China could remove its trade barriers.
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• Asian shares crept higher on Monday as a rally in U.S. stock futures soothed sentiment even as U.S. President Donald Trump kept up his twitter war with China just a couple of days before President Xi Jinping gives a keynote speech.
MSCI’s broadest index of Asia-Pacific shares outside Japan responded by rising 0.7 percent. Japan’s Nikkei put on 0.5 percent and Hong Kong 1.1 percent.
• Japanese stocks recovered from the previous session’s drop and edged higher on Monday, lifted by defensive shares.
The Nikkei ended the day up 0.5 percent at 21,678.26, after losing 0.36 percent on Friday.
• China stocks were tepid on Monday as investors pondered the developments in the simmering China-U.S. trade spat.
At the close, the Shanghai Composite index was up 0.3 percent at 3,138.29, while the blue-chip CSI300 index was down 0.1 percent at 3,852.93.
· UBS strategists say a trade war would hurt Asian exports and prompt outflows from export-oriented equity markets such as Singapore, Malaysia and Taiwan.
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