Asian stocks joined the global rally and the U.S. dollar held on to most of its gains on Tuesday as investors heaved a sigh of relief after a temporary halt in the trade war between the U.S. and China eased worries of a global recession.

Officials from the U.S. and China concluded the weekend’s high-stakes trade talks, with Washington touting progress toward a deal.

The return of risk appetite came as trade negotiators from the world’s two biggest economies announced Monday a massive de-escalation in tariffs.