Asia report: Most markets higher amid buoyant China-US sentiment

In Japan, the Nikkei 225 was up 0.38% at 21,807.50, as the yen weakened 0.04% against the dollar to last trade at JPY 111.70.

The broader Topix index was ahead 0.35% in Tokyo, to finish the day at 1,625.75.

Firms on the benchmark which rely on demand from China were well into the green, with Fanuc rising 1.21% and Hitachi Construction Machinery ahead 1.15%.

Fresh data out of Tokyo showed a weaker-than-expected improvement in household spending in Japan in February, with the measure rising 1.7% year-on-year.

According to Reuters, economists were picking an increase of 2.1%.

On the mainland, markets were closed for a public holiday, as were those in Hong Kong.

South Korea’s Kospi added 0.14% to close at 2,209.61, with chipmaker SK Hynix rising 0.77%.

Technology giant Samsung Electronics was down 0.21% in Seoul, as the firm warned that first quarter profits were set to be almost 60% lower than they were a year ago.

Sentiment was given a boost earlier in the day, after Chinese vice-premier Liu He claimed a fresh consensus had been reached with the US in ingoing trade talks in Washington.

Liu was leading a delegation in the US federal capital, after reports earlier in the week suggested the two economic superpowers were close to reaching a deal, but still had several difficult hurdles to overcome.

Oil prices were mixed as the region headed into the weekend, with Brent crude last down 0.28% at $69.21, while West Texas Intermediate rose 0.05% to $62.13.

In Australia, the S&P/ASX 200 was down 0.83% to 6,181.30, while across the Tasman Sea, New Zealand’s S&P/NZX 50 was off 0.36% at 9,857.05.

The down under dollars were a mixed bag against the greenback, with the Aussie last 0.08% stronger at AUD 1.4048, and the Kiwi weakening 0.21% to NZD 1.4838.