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Japan’s Nikkei rallied on Wednesday morning, recouping some of the losses over the past two days, as investor risk appetite revived on positive developments in Sino-US trade relations.
US President Donald Trump said on Tuesday that China was buying a “tremendous amount” of US soybeans and that trade talks with Beijing were already underway by telephone, with more meetings likely among US and Chinese officials.
The Nikkei share average soared 1.9 per cent to 21,546.43 by the midday break, after closing at the lowest level since March the previous day, reports Reuters.
Also boosting market sentiment was news that Huawei Technologies’ chief financial officer, Meng Wanzhou, was granted bail by a Canadian court on Tuesday.
Tech shares gained ground. Advantest Corp soared 3.1 per cent and Hitachi Ltd was up 4.1 per cent. Yamaha Motor jumped 5.0 per cent.
The broader Topix surged 2.0 per cent to 1,606.19.