In This Article:
* MSCI Asia ex-Japan up 0.5%, highest since Aug 1
* Europe set for higher open; ECB easing encourages markets
* Trump wants full deal with Beijing after goodwill gestures
* Asian stock markets: https://tmsnrt.rs/2zpUAr4
By Hideyuki Sano and Noah Sin
TOKYO/HONG KONG, Sept 13 (Reuters) - Asian stocks climbed to their highest in six weeks on Friday, as signs of progress in U.S.-China trade talks and aggressive stimulus from the European Central Bank helped to calm fears of a global economic slowdown.
MSCI's broadest index of Asia-Pacific shares outside Japan edged up 0.5% to their highest since Aug. 1, while Japan's Nikkei rose more than 1.0% to four-month highs. Markets in mainland China and South Korea were closed for public holidays.
European stocks are set to track Asia's firmer tone, with pan-region Euro Stoxx 50 futures up 0.1%, Germany's DAX futures up 0.1% and London's FTSE futures higher by 0.2%.
"Risk assets should find further support from accommodative policies, which are set to remain in vogue for some time, and not just in Europe as seen in the global easing trend," said Esty Dwek, head of global market strategy at Natixis in Geneva, Switzerland.
"Nonetheless, we believe that trade uncertainty and growth concerns will not vanish, so any reprieve on either subject will be welcome. We also believe that some earnings growth will be needed for equities to grind higher," she said.
The United States on Thursday welcomed China's renewed purchases of U.S. farm goods while maintaining the threat of U.S. tariff hikes as the world's two largest economies prepared for talks aimed at breaking their trade war impasse.
Trump said he preferred a comprehensive trade deal with China but did not rule out the possibility of an interim pact, even as he said an "easy" agreement would not be possible.
Investors bet optimism will prevail in the near future though most economists in a Reuters poll believed the trade dispute will worsen or at best stay the same over the coming year.
The U.S. S&P 500 closed within striking distance of its all-time closing high, rising 0.29% to 3,009.57, near a record closing high of 3,024.50 marked in late July.
The Philadelphia semiconductor share index hit an all-time high while MSCI ACWI also came near this year's peak after seven straight days of gains by Thursday.
Sentiment found modest support from Trump's planned tax overhaul aimed at middle-income households next year.
CENTRAL BANKS
On Thursday, the European Central Bank delivered bigger-than-expected stimulus, cutting interest rates by 0.10 percentage point to minus 0.50%, promising that rates would stay low for longer and restarting bond purchases of 20 billion euros a month from November.