News 15 may — 16:14

Asian stocks follow Wall Street higher

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 Asian stocks followed Wall Street higher Wednesday after President Donald Trump downplayed his escalating tariff war with Beijing and said a settlement is possible, Associated press reports.

Benchmarks in Shanghai, Tokyo, Hong Kong and Sydney advanced as investors mulled the likely costs of U.S. and Chinese tariff hikes on hundreds of billions of dollars of each other’s goods.

Trump said on Twitter the conflict over Beijing’s technology ambitions and trade surplus was a “little squabble” between friends. He said, “When the time is right we will make a deal with China.”

Global equities rallied on that “positive tone,” said Edward Moya of OANDA in a report.

Despite no sign of a deal or even a date for more talks, “no escalation in tensions was good enough of a reason for investors to return to buying stocks,” said Moya.

The Shanghai Composite Index rose 1.1% to 2,915.28 and Tokyo’s Nikkei 225 added 0.2% to 21,118.72.

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