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Asian Shares Rise On Trade Hopes

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Asian stocks rose on Tuesday after White House economic adviser Larry Kudlow said he is hopeful about trade talks with China, saying that the delegates are starting with a "clean slate, reopening the door."

"And as you know, Thursday and Friday, the principals' levels will be meeting and we are waiting for the Chinese offer. We are open, open to almost anything right now," Kudlow said.

Chinese Vice Premier Liu He is scheduled to meet U.S. Trade Representative Robert Lighthizer and Treasury Secretary Steven Mnuchin in Washington.

Chinese stocks rose as a dim services sector survey reinforced hopes that Beijing will expand stimulus to boost growth.

The benchmark Shanghai Composite Index rose 8.38 points, or 0.3 percent, to 2,913.57 as traders returned to their desks after a week-long holiday. Hong Kong's Hang Seng Index edged up 72.37 points, or 0.3 percent, to 25,893.40.

China's private sector expanded at the fastest pace in five months in September, survey data from IHS Markit showed.

The Caixin composite output index rose to 51.9 from 51.6 in August. The latest expansion was the strongest rate since April.

The services PMI fell to a seven-month low of 51.3 from 52.1 in the previous month. The reading was expected to fall marginally to 52.0.

Tokyo stocks rebounded, with chipmakers surging after South Korean tech giant Samsung Electronics posted better than expected earnings. The yen's retreat against the U.S. dollar also gave exporters a lift.

The Nikkei 225 Index rallied 212.53 points, or 1 percent, to 21,587.78, while the broader Topix closed 0.9 percent higher at 1,586.50.

Tokyo Electron rose 1.4 percent, Screen Holdings advanced 3.7 percent, Sumco jumped 3.8 percent and Advantest soared 4.4 percent.

On the economic front, a government report showed that Japan had a current account surplus of 2,157.7 billion yen in August, up 18.3 percent year-on-year. That beat expectations for a surplus of 2,100 billion yen and was up from the 1,999.9 billion yen surplus in July.

The trade balance showed a surplus of 50.9 billion yen, beating forecasts for 36.4 billion yen following the 74.5 billion yen deficit in the previous month.

Another report revealed that average household spending in Japan was up an annual 1.0 percent in August, matching expectations.

Australian markets closed higher for the third straight day as miners and energy stocks gained ground ahead of another round of U.S.-China trade talks.

The benchmark S&P/ASX 200 Index rose 29.80 points, or 0.5 percent, to 6,593.40, while the broader All Ordinaries Index ended up 27 points, or 0.4 percent, at 6,713.70.

Oil and gas producer Santos rallied 2 percent after announcing a strong oil flow at a field in Western Australia.

Mining heavyweights BHP and Rio Tinto gained 0.7 percent and 1.1 percent, respectively, as copper prices firmed up.

Gold miners Evolution and Newcrest ended on a subdued note as gold prices declined on optimism over the U.S.-China negotiations.

ANZ Banking rose 0.4 percent. The lender has announced another A$559 million in second-half provisions for customer remediation and set aside A$1.10 billion of post-tax remediation provisions over the last two years.

Ansell advanced 0.9 percent. The protective glove manufacturer said it would seek shareholder approval at its annual general meeting on November 14 for the on-market buyback of 26.4 million shares.

Seoul stocks rallied, with tech and auto stocks pacing the gainers after Samsung Electronics delivered better than anticipated third-quarter earnings, helped by a recovery in the mobile device and display sectors.

The benchmark Kospi jumped 24.52 points, or 1.2 percent, to 2,046.25, while Samsung shares spiked 2.4 percent.

New Zealand shares eked out modest gains, with consumer stocks leading the surge. The benchmark S&P/NZX 50 Index rose 40.53 points, or 0.4 percent, to 11,016.15.

The Taiwan Weighted Average advanced 0.8 percent despite the country's exports registering an unexpected contraction in September.

U.S. stocks fell modestly overnight as caution crept in ahead of trade talks in Washington later in the week.

The Dow Jones Industrial Average shed 0.4 percent, the tech-heavy Nasdaq Composite eased 0.3 percent and the S&P 500 slid half a percent.

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