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Asian stocks at six-week highs as trade war gloom lifts before ECB

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Asian stocks advanced to a six-week high on Thursday on hopes for a thaw in U.S....

TOKYO - Asian stocks advanced to a six-week high on Thursday on hopes for a thaw in U.S.-China trade relations and expectations that the European Central Bank would kick off another wave of monetary easing by global central banks.

Chinese stocks rose and the yuan hit a three-week high after U.S. President Donald Trump agreed to delay an additional increase in tariffs on Chinese goods by two weeks at the request of China’s Vice Premier Liu He “as a gesture of good will.” Oil prices rose in Asia, rebounding from a tumble on Wednesday, on hopes OPEC members will cut output to support prices.

The world’s two largest economies have been locked in protracted battle over Beijing’s trade practices that has raised the specter of a global recession.

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