Chinese stocks posted gains of 4 per cent on Friday, with Hong Kong-listed companies on track to record their biggest weekly jump in three and a half years, after a conversation between the US and Chinese leaders and reports of draft terms in the offing assuaged concerns over the rumbling trade impasse.
US President Donald Trump said on Thursday that he had “a long and very good conversation” with his Chinese counterpart, Xi Jinping, providing the market with signs of a potential thaw in the trade dispute between the countries.
Mr Trump subsequently asked his officials to draft terms of an agreement on trade with China, according to a Bloomberg report on Friday with anonymous sourcing.
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