(Adds U.S. market open, byline, dateline; previous LONDON)
* U.S. to delay some tariffs on Chinese exports
* Dollar soars against yen after U.S. makes some concessions
* Oil gains more than 3%, government debt prices rise
By Herbert Lash
NEW YORK, Aug 13 (Reuters) - U.S. and European stocks jumped, the dollar strengthened and bond prices rose on Tuesday on news U.S. and Chinese officials held a telephone call to discuss tariffs and planned another call in two weeks, easing concerns about the U.S.-Sino trade war.
The Trump administration will delay imposing a 10% tariff on certain Chinese products, including laptops and cell phones, that had been scheduled to start next month, the Office of the U.S. Trade Representative later said. debt and FX markets sharply reversed course minutes after Wall Street opened for trade on news from Hong Kong about a call Chinese Vice Premier Liu He held with U.S. officials, China's Ministry of Commerce said in a statement. spoke with U.S. Trade Representative Robert Lighthizer and U.S. Treasury Secretary Steven Mnuchin on Tuesday evening, the statement said.
"The news today is obviously it's good news. Risk appetite has improved drastically," said Candice Bangsund, a portfolio manager and global asset allocation strategist at Fiera Capital in Montreal.
"The last few weeks have been dominated by a reduced appetite in risk. Investor fragility and sentiment have been rattled by all of these macro events," she said, referring to unrest in Hong Kong, Italy and the peso crash in Argentina.
A global re-acceleration of growth should come to fruition later this year as major central banks are cutting interest rates and recent economic data has been better than where markets have been trading, Bangsund said.
The benchmark S&P 500 index .SPX rose more than 1% and the Nasdaq .IXIC more than 2% on the news. Major stock bourses in Europe also rose, with the Euro STOXX index .STOXX50E of eurozone shares rising more than 1%.
Major equity indices had tumbled roughly 5% since late July on growing concerns the U.S.-Chinese trade spat would slam global growth and fester unresolved until after U.S. presidential elections in November 2020.
Markets also had been lower, with gold earlier hitting a more than six-year high, as the ongoing unrest in Hong Kong and a rout in the Argentine peso drove investors already unnerved by the trade war into havens such as bullion, bonds and the yen.
The yen benefits in moments of geopolitical uncertainty and during economic downturns. The U.S. dollar rose 1.29% to 106.65 yen JPY= per dollar. on the benchmark U.S. 10-year Treasury notes hit session highs, while those on 30-year Treasury bonds rallied from more than three-year lows. Traders earlier were bracing for 30-year yields to sink to a record low below 2.08%. 10-year Treasury US10YT=RR fell 16/32 in price to push its yield up to 1.6949%.
Oil prices rose over 3% on the trade news.
Brent LCOc1 futures rose $1.94, or 3.6%, at $60.51 a barrel, while U.S. West Texas Intermediate (WTI) crude CLc1 rose $1.92 to $56.85 a barrel. to Tuesday's gains, Brent had traded down more than 20% since hitting its year high in April.
The Argentine peso ARS= was less volatile, trading in a tighter range, down 4.98% at 54.7545 to the dollar.
Spot gold XAU= dropped 0.6% to $1,502.71.
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