[HONG KONG] Asian equities and currencies rallied on Thursday, building on the previous day's advance as investors were cheered by a number of positive developments on trade, Hong Kong and Europe.
Then on Thursday morning, China announced it would resume trade talks with the United States in Washington next month.Chinese Vice Premier Liu He spoke to US Trade Representative Robert Lighthizer and Treasury Secretary Steven Mnuchin by phone Thursday morning, the commerce ministry statement said, and agreed to"work together and take practical actions to create favourable conditions for consultations".
Tokyo went into the break more than two percent higher and Shanghai jumped 1.6 per cent, with Sydney one per cent up. On currency markets, high-yielding, riskier assets were up across the board against the dollar, led by the Australian dollar and South Korean won.The sterling continued its recovery, having slumped to its weakest level since 1985 except for a 2016"flash crash".
The euro was also supported by developments in Italy, where the new coalition will be sworn in Thursday, drawing a line under a months-long crisis sparked by the far right.
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