Markets in Asia edged up on Friday as hopes rise on a potential trade deal between China and the U.S.
The Nikkei 225 gained 82.55 points, or 0.4%, to go into the weekend at 21,807.50, as shares of companies which are dependent on Chinese demand saw gains: Fanuc and Hitachi Construction Machinery advanced 1.2% each.
The moves in Tokyo came after data showed that Japanese household spending rose less than expected in February, rising 1.7% in February as compared to the year before, as compared to a median estimate for a 2.1% annual increase.
The Japanese yen, widely seen as a safe-haven currency, traded at 111.64 against the U.S. dollar after seeing an earlier low of 111.79.
The Australian dollar changed hands at $0.7126 U.S. following a prior low of $0.7105 during the session.
Over in South Korea, shares of industry heavyweight Samsung Electronics slipped 0.21% after the company warned that its first-quarter profits likely dropped almost 60% as compared to a year ago.
Chinese Vice Premier Liu He said a new consensus had been reached between Beijing and Washington on U.S.-China trade, Chinese official state media Xinhua reported on Friday. Liu led a delegation to Washington this week to meet with U.S. officials for another round of high-level negotiations as the two sides seek to end a potentially devastating trade conflict.
Experts doubt, however, whether the deal would be as comprehensive as U.S. President Trump would like.
In other markets
Markets in Taiwan, Shanghai and Hong Kong were shuttered for holiday
In Singapore, the Straits Times Index picked up 6.43points, or 0.2%, to 3,322.64
Korea’s Kospi Index improved 3.08 points, or 0.1%, to 2,209.61
In New Zealand, the NZX 50 dropped 35.55 points, or 0.4%, to 9,857.05
In Australia, the ASX 200 swooned 51.49 points, or 0.8%, to 6,181.26
