Asian shares were mostly higher after the US said it would hold off on tariffs of Chinese imports of mobile phones, toys and several other items typically on holiday shopping lists
Pedestrians cross a street in front of a stock indicator board displaying share prices of the Tokyo Stock Exchange in Tokyo on January 7, 2019.
Japan's Nikkei 225 added 1.2 percent in early trading to 20,691.10, while Australia's S&P/ASX 200 rose 0.5 percent to 6,598.50. The benchmark S&P 500 snapped a two-day losing streak and rose 42.57 points, or 1.5 percent, to 2,926.32. It had been up as much as 2.1percent. The markets have been in the spin cycle since President Donald Trump announced on August 1 that he would impose 10 percent tariffs on about $300 billion in Chinese imports, which would be on top of 25 percent tariffs already in place on $250 billion of imports.
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