The stock exchange in Japan ended Friday 2 November with a solid profit. Remarks by US President Donald Trump, who said he had a good conversation with his Chinese counterpart Xi Jinping, raised hopes for a speedy end to the trade conflict. That reports Business Insider.
The Nikkei index in Tokyo entered the weekend 2,6% higher, reaching 22.243,66 points. The maker of automated factory machines Keyence added 11% after an increase in the dividend. Automaker Suzuki, which recorded its lowest profit in 2 years in the past quarter, fell 2,5%.
The Hang Seng index in Hong Kong posted an interim gain of 3,6% and the Shanghai stock exchange gained 2,1%. According to insiders, during the G20 meeting at the end of November, Trump wants to a deal draw with China. The Kospi in Seoul was up 3,5% and the All Ordinaries in Sydney ended up 0,1%.
Trump seeks rapprochement with Xi
Trump wants to sign a trade deal with his Chinese counterpart Xi Jinping, Bloomberg news agency reported on the basis of insiders. Trump has reportedly employed senior officials to put conditions on paper.
The move follows his phone conversation with Xi. The president described it as "long and very good." The conversation is said to have been mainly about trade, but also about North Korea. China also said that the conversation was positive. Beijing further emphasizes that bilateral trade is in principle beneficial for both parties.
Rising tensions
The talks are the first openly reported phone call between the US and Chinese head of state in 6 months. The maintenance comes after months of rising trade tensions, in which the United States imposed tariffs on Chinese goods and the Asian country retaliated with similar measures. A proposal for a new agreement would be seen as a ceasefire.
Trump has long complained about the trade deficit that the United States has with China and wants, among other things, that the People's Republic import more American goods. He accuses China of unfair trade practices. It is not yet clear whether he is willing to compromise on a new trade deal.
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