News 18 january — 16:04

Asia stocks rise broadly on U.S.-China trade relief


Asian stocks rose across the board on Friday as a report of progress in U.S.-China trade talks stirred hopes of a deal in their tariff dispute and supported risk sentiment, Reuters reports.

Spreadbetters expected European stocks to take their cue from Asia, with Britain's FTSE .FTSE seen rising 0.45 percent, while Germany's DAX .GDAXI and France's CAC .FCHI were tipped to each gain 0.5 percent.

The Wall Street Journal reported on Thursday that U.S. Treasury Secretary Steven Mnuchin discussed lifting some or all tariffs imposed on Chinese imports and suggested offering a tariff rollback during trade discussions scheduled for Jan. 30.

U.S. stocks rallied following the report, but pared some of those gains after a Treasury spokesperson told CNBC that Mnuchin had not made any such recommendations. WSJ also reported that U.S. Trade Representative Robert Lighthizer has resisted Mnuchin’s idea. For the day, all three major U.S. indexes were up, led by a surge in industrial stocks. [.N]

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