Most major Asian markets closed higher on Friday afternoon, as hopes rise on reported progress in trade negotiations between Washington and Beijing this week.
The Nikkei 225 recovered 172.05 points, or 0.8%, to 21,205.81, as shares of index heavyweight Softbank Group jumped 1.9%.
The Japanese yen, widely viewed as a safe-haven currency, traded at 110.56 against the U.S. dollar after touching an earlier low of 110.92 — from highs below 110 earlier in the week.
In Hong Kong, the Hang Seng Index advanced 276.15 points, or 1%, to 29,051.36
In Korea, shares of chipmaker SK Hynix pared earlier gains to finish 2.6% higher.
The Australian dollar was at $0.7098 U.S. after weakening from the $0.71 handle in the previous session.
CHINA
The CSI 300 index surged 143.94 points, or 3.9%, to 3,872.34
The favorable stock figures sprang from reports that Chinese officials made unprecedented offers regarding forced technology transfers as well as other major sticking points, as U.S. Trade Representative Robert Lighthizer and Treasury Secretary Steven Mnuchin arrived in Beijing for further negotiations.
The trade standoff between the two economic powerhouses has been closely watched by investors, amid rising concerns of an economic slowdown as the bond market flashed signals that a recession could come soon.
In other markets
In Singapore, the Straits Times Index gained 9.3 points, or 0.3%, to 3,212.88
Korea’s Kospi Index regained 12.57 points, or 0.6%, to 2,140.67
In Taiwan, the Taiex Index climbed 104.78 points, or 1%, to 10,641.04
In New Zealand, the NZX 50 hiked 78.77 points, or 0.8%, to 9,844.95
In Australia, the ASX 200 added 4.65 points, or 0.1%, to 6,180.73
