Asia report: Stocks rise as Trump hints at deadline delay

Most markets in Asia finished higher on Wednesday, riding a wave of positive sentiment generated by comments from Donald Trump that the looming deadline for a trade deal with China could be postponed.

In Japan, the Nikkei 225 was ahead 0.6% at 21,431.49, as the yen weakened 0.17% against the dollar to last trade at JPY 110.82.

On the mainland, the Shanghai Composite was up 0.2% at 2,761.22, and the smaller, technology-heavy Shenzhen Composite advanced 0.32% to 1,448.24/

South Korea’s Kospi added 1.09% to close at 2,229.76, while the Hang Seng Index in Hong Kong improved 1.01% to 28,514.05.

Overnight, US president Donald Trump said ongoing trade discussions between Washington and Beijing were positive, describing the 1 March deadline imposed by his government as not being a “magical date”.

The Trump administration has lined up a further round of punitive tariffs on Chinese goods, to come into effect if no agreement is reached by that date.

Oil prices were lower as the region went to bed, with Brent crude last down 0.97% at $65.81 per barrel, and West Texas Intermediate losing 0.88% to $55.96.

In Australia, the S&P/ASX 200 went against the regional trend, falling 0.17% to 6,096.50.

Across the Tasman Sea, New Zealand’s S&P/NZX 50 was up 0.3% at 9,249.44, led higher by specialist dairy exporter A2 Milk, which surged 10%.

The firm reported a 55% uptick in first-half profits earlier in the day, off a 42% rise in sales.

Both of the down under dollars were weaker on the greenback, with the Aussie last off 0.09% at AUD 1.3969, and the Kiwi retreating 0.21% to NZD 1.4558.