Major Asian stock markets closed higher on Wednesday following a report that said the U.S. and China are closer to reaching a trade agreement.
The Nikkei 225 regained 207.9 points, or 1%, to 21,713.21, as shares of index heavyweight Fast Retailing soared 5.4%.
The Japanese yen traded at 111.52 against the U.S. dollar after seeing highs below 111 earlier in the trading week.
The Hang Seng Index leaped 361.72 points, or 1.2%, to 29,986.39. Shares of Chinese tech giant Tencent jumped 3.4% to touch highs not seen since late July last year.
Korean stocks improved substantially, as chipmaker SK Hynix saw its stock skyrocket 4.6%
Data on Wednesday showed that retail sales Down Under hit a 15-month high in February, with the country's trade surplus soaring beyond expectations to its second highest on record in the same month. Australian stocks warmed to the news.
The Australian dollar was at $0.7113 U.S. after seeing an earlier low of $0.7051.
CHINA
The CSI 300 index recouped 50.87 points, or 1.3%, to 4,022.16
The U.S. and China are set to resume trade negotiations in Washington on Wednesday, following last week's talks in Beijing. Ahead of the meeting, White House economic adviser Larry Kudlow said the two countries "expect to make more headway" in this week's talks.
Both economic powerhouses are closer to reaching a deal, according to a Wednesday report from the Financial Times.
In other markets
In Singapore, the Straits Times Index added 31.49 points, or 1%, to 3,311.27
Korea’s Kospi Index gained 26.09 points, or 1.2%, to 2,203.27
In Taiwan, the Taiex Index was positive 14.08 points, or 0.1%, to 10,704.38
In New Zealand, the NZX 50 dropped 19.08 points, or 0.2%, to 9,939.27
In Australia, the ASX 200 strengthened 42.69 points, or 0.7%, to 6,285.05
