S&P/ ASX200 / All ORDINARIES jump on US / China trade talk plans

The S&P/ ASX200 (ASX: XJO) got a boost from reports about the US / China tariff war.

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The S&P/ ASX200 (ASX: XJO) lifted 0.7% in afternoon trade today after news broke during this morning’s trading session that the US and China have agreed to hold further trade talks in Washington DC in early October. Even the slightest hint that the tariff war between the two economic superpowers may de-escalate pleases investors.

Elsewhere the ALL ORDINARIES Index (ASX: XAO) that consists of the 500 largest companies in Australia is also up 0.8% to 6,708 points. 

Two other pieces of geopolitical news have also led global markets higher over the past 24 hours.

First, up is news that Hong Kong’s governor Carrie Lam plans to scrap the island city’s proposed forcible extradition laws that caused months of violent protests against China.

While news that part of the UK parliament is once again trying to stop Brexit has also encouraged investors to go bargain hunting for beaten-down stocks.

Leading the S&P/ASX200 higher today are waste management giant Bingo Industries Ltd (ASX: BIN) and buildings material materials group CSR Ltd (ASX: CSR), which are up 6.3% and 5.7% respectively.

Other top performers within the benchmark index include mid-cap growth favourites Nanosonics Ltd (ASX: NAN) and Nearmap Ltd (ASX: NEA).

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Motley Fool contributor Tom Richardson owns shares of Nearmap Ltd. The Motley Fool Australia owns shares of and has recommended Nanosonics Limited and Nearmap Ltd. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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