Asian stocks advance after Wall St gains overnight
There are a couple of positive narratives for risk but essentially equities are gaining as trade worries are starting to ease. The headlines of China delivering on promises made after the Trump-Xi meeting is what is helping sentiment in markets over the past two days and overnight there was a report highlighting that they may revise their 'Made in China 2025' plan here and also further confirmation of US soybean purchases here.
The positive developments in the US-China trade front is what is helping risk to recover from the initial setback earlier in the week. The Nikkei is ending the session just off the highs while the positive tones is reverberating across Asian equities with the Shanghai Composite up 1.3% and the Hang Seng index up 1.0% currently.
The upbeat mood is helping to lift yen pairs on the day but overall trading ranges remain rather subdued for the most part. USD/JPY sits at 113.47 currently with the high for the day coming in at 113.50.
