Asian stocks jump as an initial US-China trade deal moves closer toward reality

Hong Kong/Washington Stocks in Asia popped on news that US and Chinese negotiators have agreed in principle to an initial"phase one" trade deal, cooling tensions somewhat between the world's top two economies.

Japan's Nikkei 225 jumped more than 2% after the market opened Friday. Hong Kong's Hang Seng Index also advanced 2%, poised for the biggest daily gain in three months. South Korea's Kospi was up 1.4%. China's Shanghai Composite opened 0.8% higher. US futures all improved during Asian trading hours, too. The deal has yet to be formally announced.

'Agreed in principle'. What does that mean in the real world?

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