By Andrew Galbraith
SHANGHAI (Reuters) - Asian shares and U.S. stock futures rose on Friday after U.S. President Donald Trump said he would meet with China's top trade negotiator, while sterling retreated after rallying on revived hopes of a possible Brexit deal.
Investors' renewed appetite for riskier assets weighed on the safe-haven yen
In early Asian trade, MSCI's broadest index of Asia-Pacific shares outside Japan <.MIAPJ0000PUS> rose 0.5%, following on from gains on Wall Street. S&P e-mini futures
Australian shares <.AXJO> climbed 0.8%, while Japan's Nikkei stock index <.N225> gained 0.9%.
The more bullish market mood came after a first day of trade talks between top U.S. and Chinese negotiators that Trump characterised as "very, very good."
A White House official said the talks had gone "probably better than expected" and a U.S. Chamber of Commerce official briefed by both sides raised the possibility of a currency agreement this week.
"Freezing tariffs at current levels are unlikely to reverse the current trade driven slowdown in economic growth, and the uncertainty around unresolved structural issues such as IP theft and subsidies to state own enterprises are likely to remain deterrents for a pick-up in much needed capital expenditure," analysts at National Australia Bank said in a morning note.
"On this score details on a potential currency pact will be important," they said.
The dollar rose 0.1% against the yen to 108.07
The dollar index <.DXY>, which tracks the greenback against a basket of six major rivals, was down at 98.663 after posting its biggest daily drop in five weeks on waning safe-haven demand for the currency.
The British pound jumped nearly 2% on Thursday, its biggest daily gain since March, after Irish Prime Minister Leo Varadkar said a Brexit deal could be clinched by the end of October after what he called a very positive meeting with his British counterpart, Boris Johnson.
The move away from safe havens also lifted the yield on benchmark 10-year Treasury notes
In commodity markets, oil prices remained higher after the head of OPEC said the organisation could take action to balance oil markets, including a deeper cut in oil supplies.
Rising risk appetite tarnished gold's appeal, pushing spot gold
(Editing by Jacqueline Wong)
This story has not been edited by Firstpost staff and is generated by auto-feed.
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Updated Date: Oct 11, 2019 07:07:10 IST