Asian stocks at three-and-a-half-week high
Equities climb, supported by growing optimism that the US and China can strike a trade deal to avoid an all-out confrontation
Tokyo — Asian shares climbed to a three-and-a-half-week high on Wednesday, supported by growing optimism that the US and China can strike a trade deal to avoid an all-out confrontation that would severely disrupt the global economy. MSCI’s broadest index of Asia-Pacific shares outside Japan climbed 1.5% to its highest level since December 14. Japan’s Nikkei rose 1.3%, while China’s benchmark Shanghai Composite and the blue-chip CSI 300 rebounded 1.5% and 1.8%, respectively. US stock futures also firmed. Wall Street’s S&P 500 gained nearly 1% on Tuesday, extending its rebound from 20-month lows touched around Christmas to more than 9%. The US and China agreed to extend trade talks in Beijing for an unscheduled third day on Wednesday, amid signs of progress on issues including purchases of US farm and energy commodities and increased access to China’s markets. But sources said the two sides were still far apart from US demands for structural reforms in China. President Donald Trump wr...
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