TOKYO - Asian stocks advanced on Friday as sentiment improved on a report that U.S.-China trade talks were making progress and after UK lawmakers voted to delay a potentially chaotic exit from the European Union.
Chinese Vice Premier Liu He spoke by telephone with U.S. Treasury Secretary Steven Mnuchin and U.S. Trade Representative Robert Lighthizer, with the two sides making further substantive progress on trade talks, Xinhua news agency said on Friday. South Korea’s KOSPI was up 0.6 percent. The index had risen as much as 1.2 percent but gave up some gains following reports that North Korea is considering suspending nuclear talks with the United States.
“Initial expectations were for the trade talks to wrap up in March. So any delay causes the markets to automatically assume that the negotiations are not going well, and this is a negative factor for equities,” said Masahiro Ichikawa, senior strategist at Sumitomo Mitsui Asset Management in Tokyo. Her third chance to get the divorce deal approved came after British lawmakers voted on Thursday to seek a delay in Britain’s exit from the European Union.
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