Most Asian markets rise with China, US optimistic on trade

April 5, 2019: Asian markets were mostly up in holiday-thinned trade on Friday as investors took support from hopes that China and the United States will hammer out a trade deal after both sides sounded notes of optimism.

With top negotiators from the world's top two economies huddled down in Washington for three days of talks, there has been a growing sense they are close to an agreement to end a stand-off that battered global equities last year.

Donald Trump on Thursday added to the sense of hope when he said the two sides were nearing a successful conclusion.

"We will probably know over the next four weeks. It may take two weeks after that," he told reporters following a meeting with Beijing's top trade envoy and Vice Premier Liu He.

"It's looking very good."

Later Liu said they had "reached a new consensus on important issues", according to China's Xinhua. The news agency also reported that President Xi Jinping had called for the "early conclusion of negotiations".

Both camps have been cautiously optimistic for months, but the last mile is proving to be the hardest as they tussle over whether and when Washington should remove the painful tariffs it imposed on Chinese goods last year.

While the news was once again upbeat, Asian markets were unable to press ahead with the rally that has characterised the past two weeks, with Hong Kong and Shanghai closed for holidays.

(APP)