By Marketwatch and Associated Press
Asian markets advanced in early trading Friday after White House economic adviser Larry Kudlow said a U.S.-China trade deal was close.
Speaking Thursday at the Council on Foreign Relations, Kudlow said there has been “very good progress,” and that an agreement was near, but while President Donald Trump “likes what he sees, he’s not ready to make a commitment.”
Earlier in the day, Chinese officials said rolling back tariffs was crucial to an agreement, while U.S. officials said China had not yet agreed to enough concessions to grant tariff relief.
Japan’s Nikkei /zigman2/quotes/210597971/delayed JP:NIK +2.55% rose 0.8% and Hong Kong’s Hang Seng Index /zigman2/quotes/210598030/delayed HK:HSI +2.57% rose 0.4% as pro-democracy protests continued to grip the city. The Shanghai Composite /zigman2/quotes/210598127/delayed CN:SHCOMP +1.78% was about flat while the Shenzhen Composite /zigman2/quotes/210598015/delayed CN:399106 +1.48% retreated 0.2%. South Korea’s Kospi /zigman2/quotes/210598069/delayed KR:180721 +1.54% gained 0.9%, while benchmark indexes in Taiwan /zigman2/quotes/210597977/delayed TW:Y9999 +0.77% , Singapore /zigman2/quotes/210597985/delayed SG:STI +0.61% , Malaysia /zigman2/quotes/210598052/delayed MY:FBMKLCI +0.24% and Indonesia /zigman2/quotes/210597981/delayed ID:JAKIDX +0.94% were mixed. Australia’s S&P/ASX 200 /zigman2/quotes/210598100/delayed AU:XJO +0.46% rose 0.8%.
Among individual stocks, Rakuten /zigman2/quotes/201861450/delayed JP:4755 +0.21% gained in Tokyo trading, while oil producer Inpex /zigman2/quotes/206689846/delayed JP:1605 +1.95% and Yahoo Japan parent Z Holdings /zigman2/quotes/207641152/delayed JP:4689 +3.62% , which surged Thursday, fell. In Hong Kong, AAC /zigman2/quotes/201441510/delayed HK:2018 +0.68% , AIA Group /zigman2/quotes/203565558/delayed HK:1299 +3.64% and New World Development /zigman2/quotes/202357413/delayed HK:17 +1.92% rose. Samsung /zigman2/quotes/209800866/delayed KR:005930 +2.63% and SK Hynix /zigman2/quotes/206420319/delayed KR:000660 +5.40% advanced in South Korea while BHP /zigman2/quotes/201448516/delayed AU:BHP +1.94% and Commonwealth Bank /zigman2/quotes/200638713/delayed AU:CBA +0.43% gained in Australia.