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CFDs are complex instruments. 70% of retail client accounts lose money when trading CFDs, with this investment provider. You can lose your money rapidly due to leverage. Please ensure you understand how this product works and whether you can afford to take the high risk of losing money.

Asian shares climb on hopes of positive US-China trade talks

Asian shares climbed to four-month highs on Friday on hopes US and China could strike a trade deal

Us & China trade talks Source: Bloomberg
United States China Donald Trump Interest Interest rate Futures contract

Asian shares climbed to four-month highs on Friday, as the US and China enter into high-level trade talks.

US president Donald Trump will soon meet with Chinese president Xi Jinping to try to finalise a comprehensive trade deal, after top US negotiators began talks in Washington on Wednesday.

It comes after top US officials reported “substantial progress” in two days of high-level talks in Washington.

Trump said on Thursday he was positive that the two economies could reach a deal, calling it “the biggest deal ever made.”

Analysts say they’re mostly sceptical that a genuine trade deal can be done in such a short time frame.

Trump has said that a deal must be reached by March 1, or failure to reach a deal would lead to an increase in US tariffs on Chinese goods.

Investors trade with optimism on positive trade deal outcome

Investors remained optimistic on Friday, with the S&P 500 ending with a 0.86% gain, while the Nasdaq climbed 1.37%, still feeding off the 11% rise in Facebook shares on Wednesday. The Dow slipped 0.06%.

Equity markets relieved after the US Federal Reserve paused interest rate hikes, with investors responding by pricing in a one-in-three chance that interest rates could be cut this year.

The US dollar fell 0.6% so far this week against the yen at $108.85, finding support around $108.50.

The dollar was a shade firmer on Friday at $95.558 resulting from a pullback in the euro to $1.1446.

Oil prices held firm, with US crude futures gaining 0.4%, to $54.01 per barrel. Australian shares also started off higher on Friday, on the back of the positive Wall Street performance.


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