Asian markets advance after Wall St gains, US Postal Service U-turn [Video]

Asian markets rose Thursday, tracking gains on Wall Street and following the US Postal Service’s U-turn on a ban on parcels from China and Hong Kong, though trade war fears continue to keep sentiment at bay.

Global equites and currencies have been hit by volatility this week after US President Donald Trump announced hefty tariffs on China, Canada and Mexico, sparking tit-for-tat responses.

But while he reached deals with the United States’ neighbours to delay implementation of the measures, there was no such agreement with Beijing.

That was followed Tuesday by news the USPS had scrapped a duty-free exemption for low-value packages from China and Hong Kong — dealing a heavy blow to Chinese ecommerce giants.

But it rowed back on Wednesday, saying it would “continue accepting all international inbound mail and packages”.

The news provided traders with some positive mood music to start the day.

Markets across Asia were …