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Asian shares have been overseen by Donald Trump, President of the United States.
The US president spoke to Xi on Thursday and later that they were "moving along nicely" ahead of face-to-face talks between the G20 summit in Argentina later this month.
Donald J. Trump
(@RealDonaldTrump)President Xi Jinping of China. We talked about many subjects, with a heavy emphasis on Trade. These discussions are moving along nicely with meetings being scheduled at the G-20 in Argentina. Also had good discussion on North Korea!
But Bloomberg later reported that the phone call – in which Trump and Xi both expressed optimism about resolving their bitter trade disputes – prompted Trump to ask officials to begin drafting potential terms.
China's foreign ministry said it was quite positive and that the pair believed they should "enhance trade relations".
The reports reads a fire under stock markets that have made the world a bigger economy.
The Nikkei was up 2.3% in Tokyo, the Hang Seng climbed 3.35% in Hong Kong and the Shanghai Composite was up 3%. There was also a strong gain of 3% for the export-oriented Kospi index in South Korea.
US stock futures rose 0.7% and the FTSE100 is set for a jump of almost 1% when it opens in London on Friday morning. it was good news for commodities as well as copper
The US and China's tit-for-tat tariffs on each other's goods have rumbled on US trumps pledges to US manufacturing jobs. The tariffs have been blamed for a weakening of China's markedly slowdown in activity.
Trump administration officials have said that it is necessary to take steps to meet the requirements of the United States of America.
China's $ 500 billion-plus exports to the United States may not be resolved.
The trade dispute has also forced the yuan to fall in value but it has also been helped by Xi's pledge on Thursday.
Tai Hui at JPMorgan Asset Management said it would stabilize the relationship between US and China and more stimulus from Beijing.
"While we are still feeling a lot about recent tensions in the medium term, the resumption of dialogue between Washington and Beijing would be good for investors for now," he told Bloomberg.
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