Asian shares jump on ‘very good’ trade talks, pound edges up
Asian shares jumped on Friday after U.S. President Donald Trump said he would meet with China’s top trade negotiator, stirring hopes for an agreement, while sterling resumed its climb amid optimism over a possible Brexit deal.
- MSCI’s broadest index of Asia-Pacific shares outside Japan advanced 1.3% on Friday afternoon in Asia.
- S&P e-mini futures added 0.45%.
- Australian shares climbed 0.9%, while Japan’s Nikkei stock index gained 1.1%.
- Chinese blue-chips were up nearly 1% after a slow start.
- The Dow Jones Industrial Average added 0.57%.
- The S&P 500 gained 0.64% and the Nasdaq Composite rose 0.6%.
- The dollar index (DXY), which tracks the greenback against a basket of six major rivals, was down at 98.636.
- The dollar was little changed against the yen at 107.98.
- The euro gained 0.1% to buy $1.1017.
- The pound, which had earlier given up some of the previous day’s gains, turned higher, adding 0.1% to $1.2455.
In commodity markets, oil prices extended gains on news of an explosion on an Iranian tanker in the Red Sea.
- Global benchmark Brent crude (LCOc1) was up around 2% at $60.29 per barrel.
- Gold, which had found its appeal tarnished by rising risk appetite, recovered some ground, with spot gold trading up 0.1% at $1,495.63 per ounce.