SYDNEY (Reuters) – Asian shares extended gains on Monday to hit a three-month high as risk assets got a fillip from hopes of a U.S.-China trade deal as soon as next month while the dollar marked time as focus shifts to a U.S. rate decision.
In early Asian trades, MSCI’s broadest index of Asia-Pacific shares outside Japan .MIAPJ0000PUS added 0.3% for its third straight day of gains to 518.29, the highest since late July.
Chinese shares were a tad firmer with the blue-chip CSI 300 .CSI300 up 0.2%. Hong Kong’s Hang Seng index .HSI jumped 0.7% while Australian shares climbed 0.1%.
Japan’s Nikkei .N225 was also upbeat, rising 0.3% to a one-year high.
The gains came after a positive session in U.S. and European markets on Friday.
U.S. and Chinese officials are “close to finalising” some parts of a trade agreement after high-level telephone discussions on Friday, the U.S. Trade Representative’s office and China’s Commerce Ministry said, with talks to continue.
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