Asian shares rise amid optimism around US-China trade talks
Higher Chinese equities help lead markets higher as Washington and Beijing make progress in trade talks
Tokyo — Asian shares rose on Friday, led by a surge in Chinese equities, on hopes that Washington and Beijing are making progress in trade talks, while global bond yields moved higher after a prolonged slide on worries about the economic outlook. MSCI’s broadest index of Asia-Pacific shares outside Japan gained 0.5% while Japan’s Nikkei added 1%. The Shanghai Composite index climbed more than 2%. The mood in the markets was brighter after US officials said China has made proposals in trade talks with the US on a range of issues that go further than it has before, including on forced technology transfer. US Treasury Secretary Steven Mnuchin said on Friday he had a “productive working dinner” the previous night in Beijing, kicking off a day of talks aimed at resolving the bitter trade dispute between the world’s two largest economies. Gains on Wall Street also bolstered investor optimism. The S&P 500 on Thursday rose 0.36% and the Nasdaq Composite added 0.34%. Despite recent turbulenc...
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