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A currency trader watches the computer monitors near the screens showing the Korea Composite Stock Price Index (KOSPI), left, and the foreign exchange rate between U.S. dollar and South Korean won at the foreign exchange dealing room in Seoul, South Korea, Wednesday, May 15, 2019. Asian stocks followed Wall Street higher on Wednesday after President Donald Trump downplayed his escalating tariff war with Beijing and said a settlement is possible.(AP Photo/Lee Jin-man)
Asian stocks followed Wall Street higher Wednesday after President Donald Trump downplayed his escalating tariff war with Beijing and said a settlement is possible.
Benchmarks in Shanghai, Tokyo, Hong Kong and Sydney advanced as investors mulled the likely costs of U.S. and Chinese tariff hikes on hundreds of billions of dollars of each other's goods.
Trump said on Twitter the conflict over Beijing's technology ambitions and trade surplus was a "little squabble" between friends. He said, "When the time is right we will make a deal with China."
Despite no sign of a deal or even a date for more talks, "no escalation in tensions was good enough of a reason for investors to return to buying stocks," said Moya.
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