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The Chinese news outlet, the Global Times, is out with the latest headlines, citing that “China and the US may be deadlocked in a trade war, but dialogue is ongoing. The 11th US-China Political Leaders Dialogue kicked off in Beijing on Monday. How to defuse trade and political tensions is top of the agenda.”

The market is seeing a return of risk appetite in Asia on expectations of some positive on the US-China trade front, as the Dialogue gets underway. Meanwhile, the PBOC’s attempt to prop up the slowing economy by announcing a minor cut to its seven-day Reverse Repos also offers some support to the Asian equity markets.