US-China Trade

IT majors showed some gains with Tata Consultancy Services up by 1.5 per cent at Rs 2,043 per share. Tech Mahindra added gain of 1.3 per cent while Infosys moved up by 0.7 per cent.

MSCI's broadest index of Asia Pacific shares outside Japan rose 1.1% in light trade, South Korea' Kopsi gained by 1.3 per cent and Shanghai blue chips added 1.6 per cent. Tokyo was on holiday.

Some US corporations have tariff mitigating strategies, like long-term contracts, diversified end-markets and localised production already in place. China-based and other non-US production facilities allow American companies to sell into China tariff free, helping to circumvent retaliatory actions.

Buenos Aires: The US President Donald Trump and Chinese President Xi Jinping have agreed not to impose new tariffs from...