And on Thursday, China's commerce ministry had said the US lifting of tariffs was a"condition" to reaching the preliminary deal - suggesting it was not imminent."Maybe, just maybe, we are finally nearing a long-awaited indication from President Trump that the protracted period of market adversity is mercifully nearing its end," said AxiTrader chief Asia market strategist Stephen Innes.
Tokyo went into the break 0.7 per cent higher, Sydney jumped 0.8 per cent, Seoul climbed one per cent and Singapore was up 0.1 per cent. Taipei, Wellington and Jakarta also posted healthy gains. Shanghai was up 0.4 per cent, boosted by the central bank's decision to pump US$29 billion into the financial system.
Hong Kong added 0.4 per cent in early trade, having shed almost five per cent over the previous four days as the city was wracked by violent protests, with police saying the rule of law was on"the brink of total collapse". The increasingly violent standoff has also fanned concerns about possible intervention by Beijing, with Xi Jinping warning on Thursday that Hong Kong's cherished"one country, two systems" principle was being threatened by the protests, which are in their sixth month.
Oil prices were also given a lift by the trade optimism, which offset data showing another pick-up in US stockpiles.
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Source: The Straits Times - 🏆 8. / 63 Read more »