Asian Markets Surge on US-China Trade Progress and Earnings Optimism

Asian markets rallied significantly following confirmation of an upcoming meeting between U.S. President Donald Trump and Chinese President Xi Jinping aimed at easing trade tensions. This development sparked investor optimism ahead of a crucial tariff deadline and the APEC summit, with major indices like Japan's Nikkei and Indonesia's Jakarta Composite Index hitting new highs. U.S. earnings reports, notably from Intel, further fueled positive sentiment in global markets, while currency movements remained modest as investors awaited key U.S. consumer price inflation data influencing Federal Reserve policy. Concurrently, oil prices declined slightly after surging due to new U.S. sanctions on major Russian oil firms, reflecting geopolitical uncertainties. Central banks in the region largely maintained steady policies despite the market rally, with some hinting at future adjustments in response to inflation and economic conditions. Overall, the prospect of diplomatic progress between the U.S. and China, alongside strong corporate earnings, has reinvigorated Asian equities and global investor confidence.