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Soothing talk on trade lifts global stocks

Credit: Reuters Studio
Published on August 30, 2019 - Duration: 01:27s

Soothing talk on trade lifts global stocks

Stocks in Asia and Europe were largely on the up Friday after Washington and Beijing both talked of progress on trade talks.

Julian Satterthwaite reports.

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Soothing talk on trade lifts global stocks

Trade hopes, trade fears... Stock moves these days ever more dependent on which sentiment has the upper hand.

Asian equities were largely on the up Friday (August 30) amid soothing talk from Washington and Beijing.

Japan's Nikkei closed 1.2 percent higher.

Korea's Kospi up by nearer 2 percent.

That after Donald Trump said some trade talks were under way, with more scheduled.

But there was caution as well.

Chinese jitters were stirred by the detention of pro-democracy activists in Hong Kong.

Stocks there and in Shanghai ended the day hovering around zero.

China's yuan also resumed its decline, on track for its worst month against the dollar since 1994.

Grounds for caution in economic data too.

Over the weekend investors will watch for China's official manufacturing survey - seen as a guide to the impact of the trade war.

Meanwhile, new numbers Friday showed German retail sales down more sharply than expected in July.

That adds to signs of a slowdown in Europe's economic powerhouse.

But right now it all comes back to trade, and on Friday the mood was positive.

European stocks took their cue from Asia.

Key indexes all rose from the open, with gains approaching one percent in early moves.

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