Asia report: Most markets rise on positive trade sentiment

Most markets in Asia finished in the green on Friday, taking their leads from a decent session on Wall Street overnight amid developments in the ongoing US-China trade dispute.

In Japan, the Nikkei 225 was ahead 0.35% at 22,270.38, as the yen strengthened 0.42% against the dollar to last trade at JPY 110.43.

On the mainland, the Shanghai Composite was 1.33% lower at 2,339.20, and the smaller, technology-heavy Shenzhen Composite was ahead 1.69% to 1,442.38.

South Korea’s Kospi was up 0.28% at 2,247.05, while the Hang Seng Index in Hong Kong was 0.42% higher at 27,213.41.

The generally positive sentiment in the region was on the back of an announcement on Thursday that renewed trade talks would be happening between Beijing and Washington, at Washington’s invitation.

The two countries remain in a stand-off, having slapped equally punitive tariffs on imports from each other in recent months.

“The US. won't allow this to go any further unless China sounds as if it is making sufficient concessions on the bilateral deficit, and intellectual rights,” noted ING chief economist and head of Asia-Pacific research Rob Carnell.

Oil prices were higher, with Brent crude last up 1.24% at $72.33 per barrel, and West Texas Intermediate adding 1.07% to $66.17.

In Australia, the S&P/ASX 200 rose 0.17% to 6,339.20, while across the Tasman Sea, New Zealand’s S&P/NZX 50 was up 0.6% at 9,052.77.

Both of the down under dollars were stronger on the greenback, with the Aussie last ahead 0.27% at AUD 1.3735 and the Kiwi advancing 0.34% to NZD 1.5133.