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Asian Shares Rise On Trade Deal Hopes


Asian stocks remained broadly higher on Monday as strong Chinese exports data released last week helped ease investor worries over slowing global growth.

There is also optimism on the trade front after U.S. Treasury Secretary Steven Mnuchin said on Saturday a U.S.-China trade agreement would go "way beyond" previous efforts to open China's markets to U.S. companies.

Mnuchin told the media on the sidelines of the spring meetings of the International Monetary Fund and World BanK that he believed Washington and Beijing are getting close to the final round of concluding issues.

The dollar eased on improved risk appetite while oil edged lower after hitting a fresh five-month high in the previous session.

Chinese and Hong Kong shares opened on a positive note amid optimism over the tariffs talks between Beijing and Washington.

China's Shanghai Composite index was rallying 1.3 percent while Hong Kong's Hang Seng index was up nearly 0.9 percent.

Japan's Nikkei index was up 1.5 percent to hit its highest level since early December. Exporters surged as the safe-haven yen struggled near a 1-1/2-month low against the dollar.

Japan Display rose 1.3 percent after it signed a deal to receive an ¥80 billion ($715 million) capital injection from a group of Chinese and Taiwanese firms.

South Korea's Kospi average was rising 0.7 percent. Asiana Airlines jumped as much as 30 percent on reports that Kumho Asiana Group will submit a fresh revamp plan soon.

Australian markets were slightly lower, dragged down by energy stocks. New Zealand's benchmark NZX-50 index was gaining 0.6 percent.

U.S. stocks rose on Friday as investors cheered upbeat earnings news from JPMorgan Chase as well as the launch of Walt Disney's new family-friendly streaming service called Disney+.

The Dow rallied 1 percent, while the S&P 500 gained 0.7 percent and the tech-heavy Nasdaq Composite added half a percent to reach their best closing levels in over six months.

European markets ended slightly higher on Friday on relief over Brexit and optimism over U.S.-China trade deal.

The pan European Stoxx 600 inched up 0.2 percent. The German DAX rose half a percent, while France's CAC 40 index and the U.K.'s FTSE 100 both gained around 0.3 percent.

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