Japanese stocks extend rally on U.S.-China trade deal hopes [Reuters]
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Source: Reuters
Japanese stocks extend rally on U.S.-China trade deal hopes - Reuters 2 Min Read TOKYO, Oct 29 (Reuters) - Japan’s Nikkei index rose to the highest in more than a year on Tuesday as optimism that the United States and China can scale back their bruising trade war buoyed hopes for higher corporate earnings. By 0145 GMT, the Nikkei benchmark share average was up 0.48% at 22,977.95. It earlier rose to 23,008.43, the highest since Oct. 11, 2018. So far it is up 14.25% for the year. Investors flocked to riskier assets after U.S. President Donald Trump said on Monday he expected to sign a significant part of the trade deal with China ahead of schedule but did not elaborate on the timing. Leaders of the world’s two biggest economies are working to agree on the text for a “Phase 1” trade agreement announced by Trump on Oct. 11. Trump has said he hopes to sign the deal with China’s President Xi Jinping next month at a summit in Chile. Japanese stocks rose for a seventh consecutive trading sess
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