Japan’s benchmark stock index rallied to a 13-month high on Friday before paring much of those gains, as markets were buffeted by conflicting reports on how much progress has been made in U.S.-China trade negotiations.
Earnings at Japan Inc. also swayed sentiment, with the Nikkei average up 0.1% at 23,352.10, after climbing to as high as 23,591.09 - the highest point since Oct. 10 of last year. For the week, the index was on track to log a 2.2% gain for what would be its fifth consecutive weekly rise.
The broader Topix advanced 0.15% to 1,700.68, its highest in more than a year.
The Chinese commerce ministry said on Thursday that the two countries had agreed to cancel the tariffs in phases, which was confirmed by a U.S. official, who spoke on condition of anonymity.
Source : Reuters