Author: AssociatedPress / Source: MarketWatch
Asian shares were mostly higher on Friday after a report suggested that the leaders of China and the U.S. could be endorsing a trade deal in weeks.
According to Bloomberg, U.S. officials are preparing a final trade deal ahead of a summit between President Donald Trump and Chinese leader Xi Jinping, which could take place as soon as mid-March. It cited unnamed sources close to the matter.
Japan’s Nikkei 225 index NIK, +1.02% picked up 1.1% and Hong Kong’s Hang Seng HSI, +0.69% added 0.4%. The Shanghai Composite index SHCOMP, +1.80% fell back from early gains, edging just 0.1% higher and Australia’s S&P ASX/200 XJO, +0.38% gained 0.6%.
Traders hope that a tariffs battle waged by the world’s two largest economies would soon be called off if a deal is reached.
Trump and Xi agreed to a 90-day tariff cease-fire in December after raising import taxes on billions of dollars of each other’s goods. The U.S. was set to hit China with a fresh wave of tariffs once the agreement expires on Saturday.
While progress on issues…
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