Asian stocks are reporting gains on the final trading day of the week amid conflicting reports of US-China trade progress.
At press time, Japan’s Nikkei is up 1.07 percent. Shares in Australia, New Zealand and South Korea are solidly bid as well. Meanwhile, the Shanghai Composite and the futures on the S&P 500 are up 0.57 percent and .42 percent, respectively.
Technology companies are reportedly leading the way, following a strong US session for chipmakers.
The uptick in the Asian stocks seems to have put a bid under the AUD/JPY. The JPY cross is currently trading at 78.00, having hit a two-week low of 77.51 earlier today.
Interestingly, Asian stocks are putting on a good show despite the lack of clarity on US-China trade talks.
On Thursday, Secretary of Commerce Wilbur Ross said the world’s two biggest economies remain “miles and miles” apart on trade.
Meanwhile, White House economic adviser Lawrence Kudlow informed markets that President Trump is optimistic about trade talks and the economy has likely added significant jobs in January.
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