Asia stocks rise despite trade war uncertainties – Financial Times


Asia-Pacific stock markets climbed on Friday despite lingering investor uncertainty over US-China trade negotiations.

Japan’s Topix rose by 1.1 per cent in afternoon trading, while the yen held steady against the dollar. In China, the CSI 300 index was up 1.7 per cent, while Hong Kong’s Hang Seng was up 0.9 per cent. 

The moves came as Chinese state media on Friday reported “substantive progress” on trade talks and Beijing passed a new foreign investment law designed to smooth the way to a new trade deal with the US.

A planned summit between US president Donald Trump and Chinese president Xi Jinping for March has already been pushed back into April with the US warning this week that major issues still needed to be worked through.

“Probably one way or the other we’re going to know over the next three or four weeks,” Mr Trump said at a White House event on Thursday, according to a Reuters report.

Overnight on Wall Street, the S&P 500 had ended a three-day winning streak to close down 0.2 per cent.

The pound was steady at $1.3242 following a choppy session as the UK parliament voted to seek a Brexit delay.

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Markets Briefing is a concise look at global markets, updated throughout the trading day by Financial Times journalists in Hong Kong, New York and London. Feedback? Write in the comments below or send us an email.



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