ASIA NEAR EIGHT MONTH HIGH ON TRADE TALK.

ECONOMY

On Thursday , Asian Indices enjoying near an eight-month peak as investors positively awaited developments on trade talks between the USA & China, who appear closer to signing a deal, nudging bond yields higher globally and softening the safe-haven yen.
Risk sentiment this week was helped by media reports touting progress in Sino-U.S. trade talks. Bloomberg reported on Thursday the U.S. wanted to set a 2025 target for China to meet trade pledges.The plan would see China committing to buy more U.S. commodities, including soybeans and energy products, and allow full foreign ownership for U.S. companies operating in China as a binding pledge.
On Wednesday, Wall Street edged higher to extend a strong start to the quarter as a rally among chip maker shares provided a boost to the broader market.
The lower house of Britain’s parliament late on Wednesday also narrowly passed legislation which would force May to seek a delay to Brexit in order to prevent the risk of leaving without a deal on April 12.
Saudi Arabia’s King Salman will provide Iraq $1 billion to build a sports city, state television said on Wednesday, the start of two-day visit to Iraq by high-level Saudi officials aimed at boosting ties.
Japanese Prime Minister Shinzo Abe said on Thursday the country must proceed with a scheduled sales tax hike in October to meet the cost of a rapidly ageing population.

In Early Asia all the major currencies gained on the safe-haven yen with the risk-sensitive Australian dollar touching a five-week high.
The greenback eased against a basket of currencies to 96.64.
The euro edged up to $1.1244, as hopes of a trade deal between the United States and China bolstered risk appetite.
EURJPY hovering around a two-week top on the yen at 125.45.
Sterling gained to $1.3179 after Prime Minister Theresa May held talks with the opposition Labour party in a bid to break the Brexit deadlock that may lead to a softer departure deal with the EU.

Oil prices weathered U.S. government data that showed a surprise build in crude inventories, with futures near their highest in almost five months as OPEC-led output cuts and sanctions on Iran tightened the supply outlook.
U.S. crude eased 4 cents to $62.42 while Brent crude rose 10 cents to $69.32.
Malaysian palm oil futures rose to a two-week high during trade on Wednesday, posting a third straight day of gains, on expectations of easing stockpiles and tracking strength in soyoil on the U.S. Chicago Board of Trade.
U.S. spring wheat futures fell 1.3% to their lowest in nearly nine months on Wednesday as the latest weather forecasts eased fears about flooding in the northern U.S. Plains forcing farmers to cut back on their acreage plans for the crop.