Japanese stocks rose, with the Topix heading for a 12-day rally, on optimism trade tensions between the U.S. and China may begin to deescalate after two days of talks over the weekend.
The benchmark index climbed 0.3% to 2,740.91 as of 9:04 a.m. Tokyo time, set to complete its longest advance since October 2017. The Nikkei 225 Stock Average rose 0.4% to 37,646.88. Out of 1,689 stocks in the broader Topix, 1,115 rose and 411 fell, while 163 were unchanged.
The U.S. and China both reported “substantial progress” after talks in Switzerland aimed at deescalating a trade war, though neither side announced specific measures. Chinese Vice Premier He Lifeng said the world’s two biggest economies agreed to create a mechanism for further talks.
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