Stocks cheered by trade deal hopes but caution prevails

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Asian stocks jumped on Friday, lifted by White House comments that suggested the...

SHANGHAI - Asian stocks jumped on Friday, lifted by White House comments that suggested the possibility of an imminent trade deal between Washington and Beijing, which revived hopes that their tariff war may be nearing an end.

U.S. S&P 500 e-mini stock futures also rose, adding 0.35% to 3,107.8 after the S&P 500 index finished at a record closing high on Thursday. In Hong Kong, where anti-government protesters paralyzed parts of the financial hub for a fifth day on Friday, the Hang Seng index gained 0.15%, but was on track for its worst weekly performance in nearly four months.

The safe-haven yen weakened, with the dollar rising 0.17% to buy 108.57 yen. The euro was barely changed at $1.1023 and the dollar index, which tracks the greenback against a basket of six major rivals was off just 0.02% at 98.143. Global sentiment has been buffeted in recent weeks by conflicting assessments of progress in talks between the United States and China aimed at ending their 16-month-long trade war.

 

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