Asian markets are advancing as China's trade comments calm the market nerve
South Korea's Kospi got 1.7%. Japan's Nikkei also rose 1.1%.
The markets in the region have wandered due to turmoil around the state of trade relations. US President Donald Trump said earlier this week that China was calling and conveying a desire to return to the negotiating table, a call that China's foreign ministry said was ignorant.
"The most important thing at the moment is to create conditions for the two sides to continue the negotiations," he added.
The positive, but light, soothing nerves in the United States ̵[ads1]1; a mood that seems to transfer to Asia.
"It doesn't sound like much," said Jeffrey Halley, senior market analyst at Asia Pacific for Oanda. But given the market's "fragility" earlier this week, he suggested that investors "probably would have continued to stream at the exit door" without the comments from China.
The US-China trade dispute "remains the only game in town" for investors worldwide, he added in a research note.
Here are some other talking points in Asia at 10:30 Hong Kong time:
- On Friday, Korea of Korea kept interest rates unchanged at 1.5%, in line with market expectations . The central bank said it would "closely monitor" the US-China trade war and other financial risks when weighing how to make monetary policy decisions in the future.
- Investors are looking for US personal income and personal expenses later Friday.
- ICBC, the world's largest bank with total assets, jumped 2.5% in Hong Kong after reporting a 4.7% increase in net profit for the first half. Its Shanghai-listed stock rose 0.2%.
