Asia stocks set to climb as China-U.S. go back to the negotiating table

© Reuters. Asian stocks were set to rise modestly on Friday, spurred by positive news on the China-U.S. trade war front and a surge in U.S. stocks overnight.

Spurred by a bunch of good news, the was poised to hit its largest one-week gain since June and was up 0.17% early in the morning.

Hong Kong’s continued to rally for the third day in a row. The city’s benchmark index was up 0.60% to 26,658 at the opening as of 9:33 PM ET (01:30 GMT). The worst performing major stock market in the world in August, Hong Kong has surged more than 5% over the past two days after Chief Executive Carrie Lam said she would formally withdraw a controversial extradition bill that has sparked 14 weeks of often violent protests and widespread social unrest.

China’s was up 0.20% early in the morning session to 2,992, and the was up 0.86% to 9,783.

U.S. markets rose to their highest levels since the end of July during the trading day on Thursday after news emerged that the U.S. and China planned to hold negotiations in October. The thaw followed a problematic weekend during which new tariffs took effect on both sides. The closed up 1.3% and the was up 1.75% at the close of trading.

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