China stocks gain on trade war hopes

President Donald Trump speaks during a campaign rally in Estero Florida

U.S. President Donald Trump speaks during a campaign rally in Estero Florida U.S

"The economic teams of the two countries should strengthen contact, conduct consultations on issues of mutual concern, and push for a mutually acceptable solution to China-US economic and trade issues", Xi said.

Over the past 24 hours, the White House has sent a flurry of mixed messages about the status of trade talks with Beijingamid an ongoing tit-for-tat that started with Trump's decision to tax billions of dollars worth of Chinese imports.

U.S. President Donald Trump wants to reach an agreement with Chinese President Xi Jinping at the Group of 20 nations summit in Argentina later this month, Bloomberg reported on Friday, citing four people familiar with the matter. China has retaliated with its own tariffs on more than $110 billion of USA goods. At a campaign rally in Columbia, Missouri, on Thursday night he said, "they want to make a deal".

"At best, the parties are negotiating about negotiating and we are still miles from a deal", Boltansky said.

Xi was quoted as saying after the call with Trump that they had hoped to expand trade cooperation.

China's foreign ministry on Friday said the call, which took place on Thursday, had been "extremely positive" and that the two leaders think they should enhance economic relations.

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The member of staff , who did not want to be named, said they had heard "screaming and running and people slamming doors". Armed police rushed the building and video footage revealed the evacuation underway with emergency series on the scene.

Trump said a deal with China would also be good for Beijing.

Trump noted that significant progress has been made in resolving differences between the United States and China.

In their talks on Thursday night, Xi told Trump that the two sides had to come up with a proposal to settle the trade war, while Trump said the two men had a "long and very good conversation" on several issues, including trade and North Korea. Major European markets gained around 1% in early trading, and United States stock futures were up almost 1%.

"Positive comments from President Trump over US-China trade tension are cheering the market in the short term", said Tai Hui, chief market strategist for Asia Pacific at JP Morgan Asset Management.

Chinese state media said Trump also expressed support for a conference in Shanghai next week that Xi is using to promote the country as an import destination.

China has repeatedly questioned the US's sincerity in trade talks, wary of agreeing to something only to have Trump change his mind. -China Business Council in Beijing, said there were plenty of challenges that would require significant negotiations in advance of a meeting between Trump and Xi to ensure success. CEO Jamie Dimon said escalating trade tensions between the US and China are increasingly starting to resemble a trade war, rather than just a "skirmish".

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