U.S. President Donald Trump's decision to extend a deadline to escalate tariffs on Chinese imports raised cautious optimism in China on Monday and sent shares soaring. Trump said, "I will be delaying the U.S. increase in tariffs now scheduled for March 1." He also said that if negotiations progress, he will meet with Chinese President Xi Jinping at his Florida resort to finalize an agreement. The trade war has been rattling financial markets and news of a reprieve on another increase in U.S. tariffs sent shares moderately higher across Asia. But shares already had risen in recent weeks, anticipating that Trump would postpone the tariff hike.

Source: CBC News February 25, 2019 06:56 UTC