The stock exchange in Japan closed on Friday with a strong profit. Investors responded to the reports about a possible interim deal in the trade dispute between the United States and China. In addition, the markets processed the new support measures from the European Central Bank (ECB), which lowered the deposit rate and again buys bonds to stimulate the weakening economy.
The leading Nikkei in Tokyo entered the weekend 1.1 percent higher at 21,988.29 points and reached the highest level since the first week of May. The main index gained 3.7 percent this week. That is the largest weekly gain in eight months. Telecom concern SoftBank and retailer Fast Retailing, two heavyweights in the index, climbed 3.2 and 0.6 percent.
Yahoo Japan won 4.9 percent. The internet company announced on Thursday to take over online clothing retailer Zozo for 3.7 billion dollars in order to better compete with online retailer Amazon. So 0.5 percent fell. The day before, the share rose by more than 13 percent.
In Hong Kong, the Hang Seng index was 0.5 percent higher in the meantime. US President Donald Trump advisers have talked about an interim trade deal between the US and China. In addition, import tariffs on Chinese goods could be postponed and in some cases even reversed. The All Ordinaries in Sydney climbed a fraction. Investors had a day off in China and South Korea.
