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Chinese markets edged higher ahead of continued trade war talks Monday. “I think good things are going to happen” on a trade deal, US President Donald Trump told reporters on Sunday. The People's Bank of China (PBOC) slashed its reserve requirement ratio (RRR) Friday by 1% as it seeks to remedy ongoing concerns about the Chinese economy. Chinese markets rallied on Monday on hopes that the resumption of trade war talks with the US would help end a brutal period for equities. Trade officials will begin two days of talks with their counterparts on Monday in Beijing. “I think good things are going to happen” on a trade deal, US President Donald Trump told reporters on Sunday, according to the New York Times. Speaking after the Labor Department published nonfarm payroll figures Friday — which beat expectations to add 312,000 jobs to the US economy - Trump raised the stakes on China once again: "China’s not doing very well now. It puts us in a very strong position. We are doing very well," he told reporters at the White House following the report's release.  Also lifting sentiment: eased monetary policy from China's central bank. The PBOC made substantial efforts to ease lending conditions Friday with a 1% cut in bank's reserve requirements ratios (the first of four possible cuts in 2019).  "The start of trade talks between the US and China is helping to lift sentiment, as is a move by the PBoC to ease monetary policy," said Jasper Lawler, head of research at London Capital Group. "Easing trade tensions in addition to Beijing proving that it is ready to step in where necessary is tonic to the markets amid fears of a global economic slowdown."  Here's the roundup:  In Asia, the Shanghai Composite closed up 0.7% while the Nikkei bounced back from Friday's losses to finish 2.4% higher. South Korea's KOSPI closed 1.3% up.  European markets opened flat before falling amid weak German manufacturing data showed contracts for goods "Made in Germany" fell by 1% in November. The FTSE 100 us down 0.4% while Germany's DAX is down 0.3% as of 9.40 a.m in London (4.40 a.m EST). US Futures are flat with the Nasdaq down 0.2%.  Brent Crude oil prices rose 2.1% on US-China trade war hopes, while gold is also up 0.5%.  It's a sign that the trade war could be swinging in the US's favor with the strain of $250 billion in tariffs knocking the Chinese economy. Though current trade talks are expected to be mid-level, there is optimism that further compromise can be reached ahead of the reintroduction of tariffs on March 2. US markets have also been buoyed by the Federal Reserve's comments about patience and flexibility on interest rates on Friday. SEE ALSO: Global stocks are enjoying their first good day of 2019 after China and the US agree to fresh trade talks Join the conversation about this story » NOW WATCH: Bernie Madoff was arrested 10 years ago today — here's what his life is like in prison